Year: 2023

Lenders seek transparency as Pakistan pitches for environment funding

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SIFC-sparks

ISLAMABAD: Amid struggling project implementation and calls for more transparency by multilateral and bilateral lenders, the caretaker government on Tuesday made a pitch for additional international financial support, particularly those relating to ‘debt for nature and debt for social development swaps’ to help Pakistan meet climate finance targets. The appeal for additional financial support was made by Caretaker Finance Minister Dr Shamshad Akhtar at back-to-back engagements with lenders and development partners ahead of upcoming UN Climate Change Conference (COP-28) convened by UN Framework Convention on Climate Change (UNFCCC) from Nov…

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Govt appealed to bring gas tariff down to Rs1350 per MMBtu as per cost determined by OGRA

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Industries ready to pay 100 pc gas cost only, not subsidies: KCCI, Industrial Town Associations KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) along with all seven Industrial Town Associations and Value-Added Textile Associations have fervently appealed the government to bring down gas tariff to Rs1350 per MMBtu which has been determined as 100 percent cost of gas by OGRA and the industries were ready to pay the same but not the subsidies.Addressing a press conference here on Tuesday which was chaired by President KCCI Iftikhar Ahmed Sheikh, representatives…

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FCA for Oct 2023: Discos seek Nepra nod for Rs3.5/unit additional charges in December bills

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KE’S- 7-YEAR- INVESTMENT-ROADMAP

ISLAMABAD: The ex-Wapda distribution companies (XWDiscos) have formally sought an approval from the National Electric Power Regulatory Authority (Nepra) to impose additional charges of Rs3.5339 per unit on consumers in December. The petition, related to the monthly fuel charges adjustment (FCA) for October 2023, raises eyebrows as approximately 84 percent of the claims pertain to the recovery of previous adjustments totaling a substantial Rs28.325 billion (or Rs2.9592/unit). A parallel concern arises as the Central Power Purchasing Agency (CPPA), representing Discos, discloses nearly identical per unit costs for local and imported…

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Unilever CEO inspires SSGC

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SSGC

KARACHI: Amir Paracha, chairman and CEO of Unilever Pakistan Limited, spoke about his professional journey and the challenges he faced as one of the youngest CEOs in the country at a speakers’ session organised by Sui Southern Gas Company (SSGC), a statement said on Monday. The session, titled “Hitting the Bulls’ Eye”, was part of SSGC’s Synergy-Talks series, aimed at providing a platform for learning and inspiration for its employees and executives. The event was held at SSGC’s head office auditorium and was attended by a large number of SSGC’s…

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Growatt Introduces SPH 10000TL-HU: Advanced Storage Inverter for the Pakistani Market

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Growatt-Introduces

Growatt, a leading global provider of cutting-edge solar inverters and energy storage solutions, introduces the SPH 10000TL-HU energy storage inverter in a strategic move to cater to the dynamic Pakistani solar and energy storage market. The inverter features optimal electricity generation, enhanced safety, scalability, easy maintenance and more.Featuring three maximum power point trackers (MPPTs), this innovative energy storage inverter efficiently accommodates high-power solar modules with a maximum input current of 22A. Further, it enables optimal electricity generation with a high efficiency up to 97.5% and a 1.5 DC/AC ratio that…

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Govt to address refineries’ concerns over upgradation agreements

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KARACHI: The government is finalising a proposal to address the concerns of four oil refineries that have not signed upgradation agreements with the energy regulator, sources told The News on Monday. The refineries have raised issues over taxation, arbitration, force majeure and import incentives, which they say are not in line with the Brownfield Refinery Policy announced in August, the sources said. “A summary is being finalised for the consideration of the Cabinet Committee on Energy (CCoE) to address the concerns of the refineries,” a source said. Only one refinery,…

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Fuel cost adjustment of Rs3.5 more per unit to further inflate bills

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Petroleum-prices

ISLAMABAD: The Cen­tral Power Purchasing Agency (CPPA) on Mon­day sought a massive Rs3.55 per unit as fuel cost adjustment (FCA) for ex-Wapda distribution comp­anies (Discos) to raise another Rs33bn from consumers in Dece­mber, des­pite a healthy 76 per cent ele­ctricity generation from cheaper domestic fuels. This comes on top of about 26pc increase in the annual base tariff and around 18pc hike under the currently implemented quarterly tariff adjustment (QTA). This means that consumers would benefit little from low consumption in December, as they would be charged such a big…

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PPL-operated joint venture discovers gas & condensate in Sindh

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Karachi, November 20, 2023: Pakistan Petroleum Limited, operator of Shah Bandar Block (2467-16) (63 percent working interest (WI)) along with joint venture partners Mari Petroleum Company Limited (32 percent WI), Sindh Energy Holding Company Limited and Government Holdings (Private) Limited (2.5 percent WI each) has made a gas and condensate discovery at exploration well Jhim East X-1 in District Sujawal, Sindh. This is the second discovery in Shah Bandar Block. Jhim East X-1 was spud on October 8, 2023 and drilled to a depth of 2,545 m to test the…

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Navigating Pakistan’s Economic Landscape: Elections, Economic Trends, and the Path to Stability”

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Introduction: As Pakistan gears up for general elections scheduled for February 8, there are signs of optimism regarding the resolution of the country’s economic and political challenges. The announcement of a firm election date, following consultations between the Election Commission of Pakistan and the president, has put an end to speculation and controversy. Despite concerns raised by major political parties about the fairness of the upcoming elections, the focus is shifting towards forging alliances and preparing for the crucial polls. Political Dynamics: The political scenario is marked by the imprisonment…

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