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Month: December 2023

Adoption of modern technology will improve Pakistan’s economic indicators and significantly increase GDP

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GDP

Islamabad, December 21, 2023: “Pakistan can achieve higher GDP growth and improve economic indicators, by adopting technology at government and private level,” this was stated by Saquib Ahmad, Managing Director of SAP Pakistan, Iraq, and Afghanistan, while talking to media representatives at SAP’s Islamabad Office. He emphasized the significance of embracing innovative technological solutions to drive sustainability both locally and…

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Power tariffs for all raised by Rs1.15

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power-subsidy

• Karachi residents to pay Rs1.72 extra under quarterly tariff adjustment• Discos to rake in Rs22.3bn; lifeline consumers exempted from hike ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday approved an additional across-the-board charge of Rs1.15 per unit for electricity consumers throughout the country, including K-Electric, and also concluded the process of imposing another Rs1.72 per unit on…

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ECC okays Rs320bn for power firms

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Finance-Minister

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved payment of Rs320 billion to public sector power plants and K-Electric within a few days through supplementary grants and started phasing out export finance scheme to meet a condition of the International Monetary Fund (IMF). A meeting of the committee, presided over by caretaker Finance Minister Dr Shamshad…

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Power generation hits 33-month low

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power-sector

Reaches 7547GWh, declining 21% compared to month of October 2023 KARACHI: Power generation in Pakistan plummeted to a 33-month low, reaching 7,547 Gigawatt-hours (GWh) in November 2023. This decline was attributed partly to the onset of the winter season and, more significantly, to the overall economic slowdown in the country. The dip in power generation has intensified the burden of…

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Attock refinery resumes operations of two plants after OGRA intervention

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oil-refinery

ISLAMABAD: Attock Refinery Limited (ARL) has restarted its two crude distillation plants that were shut earlier this month due to low demand for its products, its managing director said on Wednesday. The plants, which process local crude oil from the Khyber Pakhtunkhwa (KPK) and Potohar regions, were closed on Dec. 11 as the refinery faced a glut of petrol and…

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Ginlong (Solis) Technologies: Pioneering Excellence in PV Inverter Brands with BNEF Tier 1 Recognition

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New-Solis

In the vibrant city of Ningbo, China, Ginlong (Solis) Technologies, recognized as one of the foremost and largest inverter manufacturers globally, proudly declares its inclusion in the esteemed BloombergNEF Tier 1 PV Inverter Manufacturers list for the fourth quarter of 2023. This noteworthy acknowledgment signifies a momentous achievement for Solis, highlighting the company’s unwavering dedication to excellence, innovation, and a…

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Speakers for removing bottleneck in harnessing hydropower, RE potential in country

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hydro-power

Islamabad: Speakers at 3rd International Hydropower Conference while terming the hydropower and renewable energy (RE) crucial for sustainable future of the country on Wednesday stressed the need to remove bottleneck in harnessing the hydropower and RE potential for provision of affordable electricity to the people and industry.The third International Hydropower conference themed “Hydropower: A Renewable Energy Source for a Sustainable…

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Circular debt: Ministry seeks Rs319bn subsidy for KE, govt power plants

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K-Electric

ISLAMABAD: In the wake of escalating monster of circular debt and keeping the cash-bleeding power sector afloat, the Ministry of Power has sent out an SOS to the government and requested approval of a whopping subsidy amount of Rs319 billion for K-E and Government Owned Power Plants (GPPs). The Economic Coordination Committee (ECC) of the Cabinet is all set to…

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FIPPA law to shield Turkmenistan investment in $10 billion TAPI project

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TAPI-gas

ISLAMABAD: The government has decided to extend the Foreign Investment Promotion and Protection Act (FIPPA), a special legislative cover, to the investment of Turkmenistan in the TAPI gas pipeline project, a senior energy ministry official said on Tuesday. The move is aimed at increasing the bankability of the project in the eyes of the international lenders, which is estimated to…

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Nepra rejects power division’s criticism of overbilling report

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Nepra-KE-1

• Power regulator disapproves of premium on urgent connections• Hints at allowing 14pc interest on bill instalments ISLAMABAD: The power regulator Nepra on Tuesday rejected objections raised by the power division over its overbilling investigation report finding massive irregularities to consumers and made it clear to take the regulatory process to the logical conclusion. The National Electric Power Regulatory Authority also appeared…

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