An Evening of Reflection, Recognition, and Resilience Karachi, Pakistan – December 2, 2023 – Dynamic Engineering and Automation (DEA) Group of Companies is thrilled to announce the overwhelming success of its 15th-anniversary celebration, held on December 1, 2023. The event was a heartwarming testament to DEA’s journey of excellence and innovation over the past 15 years. Highlights of the Celebratory…
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ISLAMABAD: The circular debt owed by Independent Power Producers (IPPs) of Chinese companies has crossed the Rs400 billion mark, making it hard for the Chinese to continue other power sector projects vigorously. The circular debt for the overall power sector had escalated and crossed the Rs2.6 trillion mark by the end of October 2023. “There is no possibility to restrict…
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ISLAMABAD: The accumulated receivable of state-owned Pakistan State Oil (PSO) has reached Rs27.512 billion including late payment charges against Pakistan International Airlines (PIA) till December 7, 2023. Recently, the PSO suspended fuel supplies to the PIA over a dispute regarding unpaid dues. As a result of this standoff, the PIA was compelled to cancel domestic and international flights leading to…
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ISLAMABAD: Infrastructure Growth Capital Fund LP (IGCF) SPV 21 claims to own 53.8 per cent shares of KES Power Limited and in that capacity has approached Special Investment Facilitation Council (SIFC) and caretaker Minister for Privatisation, Fawad Hassan Fawad for asserting its position with respect to K-Electric (KE). In a letter to Minister for Privatisation, a copy of which has…
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ISLAMABAD: China Power Hub Generation Company Limited (CPHGCL) has urged Central Power Purchasing Agency–Guaranteed (CPPA-G) to make payment of Rs 25.4 billion to clear liabilities and other debt servicing. In a letter to Chief Executive Officer (CEO), CPPA-G, the Chinese company’s Chief Financial Officer, has cited the reference of previous correspondences and meetings, in which the company has noted that…
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