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Month: March 2024

PM Orders Forensic Analysis of Gas Companies’ Revenue Requirements

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Prime Minister Initiates Third-Party Analysis of Sui Gas Companies’ Revenue Needs In a recent development, Prime Minister Shehbaz Sharif has instructed a third-party forensic analysis of the revenue requirements for Sui gas companies, as determined by the Oil and Gas Regulatory Authority (Ogra). This directive came during a presentation on the petroleum sector, highlighting the government’s commitment to ensuring transparency…

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Industrialists Urge Government Action on Energy Amid IMF Concerns

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IMF-board

Karachi’s Industrial Sector Calls for Energy Cost Reductions and Policy Reforms Amid concerns over the International Monetary Fund’s (IMF) Staff-Level Agreement (SLA) and its impact on energy policies, Karachi’s industrialists are urging the newly-elected government to take decisive action to reduce energy costs and implement comprehensive economic reforms. The industrial sector faces potential shutdowns if critical infrastructure deficiencies are not…

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Pakistan Urges Climate Financing at UN Meeting

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Pakistan Advocates for Concessional Climate Financing at UN Session During a United Nations meeting focused on sustainable energy goals, Pakistan emphasized the urgent need for concessional climate financing to aid developing countries in transitioning away from fossil fuels. Ambassador Munir Akram highlighted that without such financing, achieving set targets would be challenging for developing nations. In his remarks at the…

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RLNG Prices Increase After Two Monthly Reductions

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New-RLNG

Ogra Raises RLNG Prices Due to Higher International Rates The Oil and Gas Regulatory Authority (Ogra) has announced an increase in the sale price of Regasified Liquified Natural Gas (RLNG) for Sui gas companies SSGCL and SNGPL, citing higher international prices. This hike comes after two consecutive monthly price cuts of 9% in February and 8% in January. For March,…

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Solis Embarks on a Sustainable Venture with AE Power with 300MW Distribution Deal to Transform Pakistan’s Energy Sector

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In an innovative endeavor to reshape the energy sector, Solis, the world’s third-largest PV inverter manufacturer, has entered into a pioneering partnership with AE Power, showcasing a significant inverter distribution agreement that promises to invigorate the shift towards renewable energy in Pakistan. Valued at an impressive 300MW and spanning from 2024 to 2025, this alliance marks a key milestone in…

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OGRA DETERMINES RLNG PRICE

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OGRA

Islamabad. The Oil and Gas Regulatory Authority (OGRA) in accordance with the Policy Guidelines of the Federal Government has determined the Regasified Liquified Natural Gas (RLNG) prices for sui companies with effective from March 1st, 2024 as under: The increase in RLNG prices is due to increase due to increase in the cost of supply.  The RLNG price notification for…

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Unequal Taxation Hits Electricity Consumers in Pakistan

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power-e-unit

Islamabad (Tanveer Hashmi): The revelation of unequal and unfair taxation on electricity consumers in electricity bills has come to light. Electricity duty is imposed on consumers in electricity bills without any legal basis, as revealed in the inquiry by federal tax authorities. It has been found that consumers, especially low-income individuals, are bearing the burden of income tax and sales…

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Government Faces Challenges in Formulating Strategy to Address Electricity Crisis

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power-sector

The federal government is grappling with the task of devising a strategy to tackle the ongoing power sector crises, with conflicting signals emerging from the Prime Minister’s Office (PMO) regarding the future of Distribution Companies (Discos). Under Prime Minister Shahbaz Sharif’s leadership, the government appears undecided between two proposals: outsourcing Discos to the private sector through long-term concessional agreements or…

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IMF and Pakistan Reach Staff-Level Agreement on Final Bailout Review

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IMF-board

The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan regarding the final review of a $3 billion bailout. This agreement paves the way for Pakistan to receive $1.1 billion upon approval from the Fund’s Executive Board. The agreement, recognizing Pakistan’s strong program implementation and ongoing reform efforts, aims to transition the country towards a sustainable economic recovery.…

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COP28 Goal of Tripling Renewables Feasible Only with Urgent Global Course Correction

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COP28-Goal

Despite a record renewable growth in 2023, the energy transition remains off track due to persistent structural barriers and a notable shortfall in investment. Abu Dhabi, United Arab Emirates/Berlin, Germany, – Achieving the global target set at COP28 to triple renewable power capacity by 2030 relies heavily on establishing conducive conditions for such growth. Tripling renewable power capacity by 2030…

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