May 2024 -

FPCCI urges govt to take full advantage of 12 wind power plants to ensure uninterrupted electricity at cheapest rates

May 31, 2024May 31, 2024 Admin

Karachi The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has called upon the government to immediately take full advantage of 12 operational clean energy projects in the Jhimpir-Gharo wind corridor in Sindh so that end-consumers of electricity get uninterrupted power supply at the cheapest rates in peak summer.In a statement issued to the media, FPCCI President Atif Ikram…

Aramco completes acquisition of 40% stake in Gas & Oil Pakistan

May 31, 2024May 31, 2024 Admin

• Investment signals further progress in Aramco’s global retail expansion• Strategic partnership aims to unlock new opportunities for value creation and growth DHAHRAN|MAY 31, 2024 Aramco, one of the world’s leading integrated energy and chemicals companies, has made further progress in its global retail expansion by completing the acquisition of a 40% equity stake in Gas & Oil Pakistan Ltd.…

Govt May Maintain Gas Sale Prices from July 1

May 31, 2024May 31, 2024 Admin

ISLAMABAD: The government is considering maintaining the natural gas sale price from July 1, 2024, contrary to the 10% reduction in system gas prices recommended by the Oil and Gas Regulatory Authority (OGRA). This move aims to reduce the prior years’ shortfall, which has reached Rs1,500 billion, by Rs100 billion in a staggered manner. Maintaining the gas prices is also…

Poor Rating Mars $3.5B Debt Plan for Basha Dam

May 31, 2024May 31, 2024 Admin

ISLAMABAD: Pakistan’s junk credit rating has become a major obstacle in securing $3.5 billion in debt for the Diamer Basha dam project. In response, the government is simultaneously trying to sell its stake in another power project and persuade Beijing to include the Diamer Basha dam in the China-Pakistan Economic Corridor (CPEC). The Water and Power Development Authority (WAPDA), the…

Dewan Plans Electric Vehicle Rollout in August

May 31, 2024May 31, 2024 Admin

KARACHI: Despite uncertain economic conditions, Dewan Farooque Motors Ltd (DFML) has announced plans to start rolling out electric vehicles (EVs) in August. The company has entered into a toll manufacturing agreement with ECO-Green Motors Ltd (EGML) for the production of EGML’s Honri-VE, offering ranges of 200km and 300km.

Discos Seek Rs3.5 More for April Amid Demand Slump

May 31, 2024May 31, 2024 Admin

ISLAMABAD: The Central Power Purchasing Agency (CPPA) is seeking an additional Fuel Cost Adjustment (FCA) of Rs3.49 per unit in June’s bills, admitting that “consumers don’t want electricity from the system” as evidenced by a 14-17% drop in consumption in April.

KE Overbilled Sindh Government by Over Rs20 Billion in Last Decade: Minister

May 30, 2024May 30, 2024 Admin

KARACHI: Sindh Energy Minister Syed Nasir Hussain Shah revealed on Wednesday that K-Electric (KE) has overcharged the Sindh government by more than Rs20 billion for electricity supply to its departments over the past decade. In a meeting with energy reporters, Minister Shah disclosed that the provincial government will soon settle Rs9 billion in outstanding dues with KE. An audit conducted…

OCAC Urges Karachi Authorities to Repair Keamari Oil Installation Area Before Monsoon

May 30, 2024May 30, 2024 Admin

KARACHI: The Oil Companies Advisory Council (OCAC) has raised serious concerns about the deteriorating condition of the Keamari Oil Installation Area (KOIA) ahead of the predicted heavy monsoon rains. In a letter addressed to the chairperson of the Karachi Port Trust (KPT) and Karachi’s mayor, the OCAC highlighted the urgent need for infrastructure repairs to prevent potential disruptions in the…

Maritime Milestone for Pakistan as Largest Container Vessel Docks at KPT

May 30, 2024May 30, 2024 Admin

KARACHI: In a historic event, the MSC Anna, the largest container vessel ever to dock in Pakistan, arrived at South Asia Pakistan Terminals (SAPT) on Wednesday. The vessel, with an impressive overall length of 400 meters and a capacity of 19,368 TEUs, marks a significant milestone in Pakistan’s maritime history, announced by Karachi Port Trust (KPT). The docking of MSC…

NEPRA Names K-Electric Top Performer in Electricity Provision

May 30, 2024May 30, 2024 Admin

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has recognized K-Electric as the top performer in its “HSE Performance Evaluation Report 2024.” This annual assessment evaluates health, safety, and environmental (HSE) standards within the electricity sector, ensuring adherence to strict safety protocols and continuous improvements. K-Electric has shown significant advancements across all areas, from power generation to distribution, consistently meeting…