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Month: March 2024

The Government of the Islamic Republic of Pakistan Welcomes the Resumption of CASA-1000 Activities in Afghanistan by the World Bank

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world-bank

The Government of the Islamic Republic of Pakistan welcomes the recent announcement by the World Bank that, amongst other initiatives in support of the people of Afghanistan related to its “Approach 3.0”, the Central Asia-South Asia Electricity Transmission and Trade Project (“CASA-1000”) in Afghanistan will be resumed as had been requested in December by all three neighbouring countries participating in…

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Mercedes has realized the fraud of EVs. That is why they are once again betting on combustion cars

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New-Project

Mercedes-Benz delayed its electrification goal by five years last week, assuring investors that it would continue to work on combustion cars. Mercedes, among other well-known automakers, has raised concerns about the lower-than-expected demand for battery-powered cars. Five years after releasing a prediction in 2021 that stated it would reach the 50% milestone by 2025 with predominantly all-electric cars, the company now…

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Progress on Land Acquisition for Dams Reviewed by Implementation Committee

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Bhasha-Dam

An implementation committee overseeing the Diamer Bhasha and Mohmand Dams, as directed by the Supreme Court of Pakistan, convened to assess advancements in land acquisition and resettlement efforts for locals residing in project areas. Chaired by Water and Power Development Authority (WAPDA) Chairman Lt Gen (Retd) Sajjad Ghani, the meeting focused on the sub-committee’s progress regarding land acquisition and resettlement…

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Sindh Government and World Bank to Invest $100m in Renewable Energy Projects

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Renewable-energy

The Sindh government has partnered with the World Bank to initiate renewable energy ventures, aiming to generate approximately 300MW of electricity through solar and wind projects. Mehfooz Qazi, Director of Alternative Energy for the Sindh Government, announced the $100 million investment during a seminar titled ‘Significance of Renewable Energy for Karachi & Export Industry: Cost of Inaction.’ These projects, including…

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Caretaker Finance Minister Urges IMF Agreement Amid High Inflation

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IMF-board

Dr. Shamshad Akhtar, the outgoing Caretaker Finance Minister, is advising the incoming government to maintain fiscal prudence and swiftly negotiate a new agreement with the International Monetary Fund (IMF) to implement vital reforms, as inflation stands at approximately 29 percent. In her departure note included in the Ministry of Finance’s Monthly Economic Update & Outlook for February 2024, Akhtar stressed…

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NEPRA Receives K-Electric’s Fuel Charges Adjustment Request for January 2024

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Nepra-tariff

The National Electric Power Regulatory Authority (NEPRA) has received a Fuel Charges Adjustment (FCA) request from K-Electric for January 2024 on a provisional basis, offering three potential scenarios for adjustment, according to sources familiar with the matter. The proposed adjustments range from Rs 3.34 per unit to Rs 8.78 per unit. Caretaker Prime Minister Anwar ul-Haq Kakar recently instructed NEPRA…

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PSO Seeks Power Division’s Help in Recovering Rs30.8bn from Hubco

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pso

Pakistan State Oil (PSO) has reached out to the Power Division seeking assistance in recovering a long-pending amount of Rs30.8 billion from Hub Power Company (Hubco), according to reliable sources. The outstanding amount pertains to Residual Fuel Oil (RFO) supplies made by PSO to Hubco over a considerable period. As of February 26, 2024, the total outstanding amount, including Late…

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Gas Shutdown in Sindh

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SSGC

In an official statement released on Thursday, the Sui Southern Gas Company (SSGC) declared a temporary cessation of gas supplies to industries and compressed natural gas (CNG) stations across Sindh for a 48-hour period, commencing from Saturday morning. The decision, attributed to low pressure and shortages within the gas system, aligns with the approved gas sales agreement for industrial clients,…

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Study Finds K-Electric Misses $250 Million Savings Due to Neglecting Renewables

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circular-debt-K-electric-ceo

A recent study conducted by Renewables First and the Policy Research Institute for Equitable Development has revealed that K-Electric Ltd., Pakistan’s sole vertically integrated power utility, could have saved approximately $250 million over the past two years if it had prioritized investment in renewable energy sources instead of extending contracts for aging and inefficient thermal power plants. Despite operating in…

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