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Day: May 22, 2024

Leading Experts Convene in Islamabad for OICCI and Shell Pakistan’s Energy Symposium

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Islamabad, May 22, 2024: Overseas Investors Chamber of Commerce and Industry (OICCI), and Shell Pakistan Limited jointly hosted the Pakistan Energy Symposium. This significant event was produced by the Nutshell Group and took place at a local hotel. The Pakistan Energy Symposium – ‘Powering the Future’ brought together public stakeholders, policymakers, thought leaders, and industry specialists, to chart out a course…

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Poland-Pakistan trade volume more than US$920 million: Ambassador

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Poland-Pakistan

KARACHI: The Ambassador of Republic of Poland Maciej Pisarski has informed that the overall trade volume between Poland and Pakistan has reached to more than US$920 million, of which Pakistan exported goods worth US$800 million due to GSP Plus arrangement which gives duty free access of Pakistani goods to Polish Market whereas Poland’s exports to Pakistan stood at US$128 million…

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LONGi Successfully hosts its Renewable Energy Forum in Karachi

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Longi-event

Karachi, Pakistan – May 21, 2024 – LONGi, the global pioneer in green power and green hydrogen solutions, proudly hosted ‘LONGi’s Renewable Energy Forum’ on May 20, 2024 in Karachi. The event brought together key industry leaders, government officials, and visionaries in the field of renewable energy. The event kicked off with a warm welcome session, followed by an inspiring…

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Electricity Generation Drops 13.87% to 8,639 GWh in April

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Power Tariff Reduction

KARACHI: Pakistan’s electricity generation decreased by 13.87 percent to 8,639 GWh (11,612 MW) in April 2024, compared to the same month last year, driven by reductions in generation from RLNG, gas, local coal, and wind, according to data released on Tuesday. In April, the country produced 2,157 GWh of electricity from RLNG, 2,070 GWh from hydel, 2,043 GWh from nuclear,…

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Power Sector Debt Surges 14% to Rs2.635 Trillion in 7 Months

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power-sector

ISLAMABAD: The power sector debt surged to Rs2.635 trillion between July 2023 and January 2024, marking a 14 percent increase from the previous year, according to data from the Power Division. At the end of the fiscal year 2022-23 in June, the sector’s total debt stock stood at Rs2.31 trillion. Despite government efforts to retire some debt of Independent Power…

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PRL Engages Chinese Firms for $1.5 Billion Refinery Upgrade Project

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PRL-Project

KARACHI: Pakistan Refinery Limited (PRL) is advancing its $1.5 billion Refinery Expansion & Upgrade Project (REUP) by engaging Chinese engineering, procurement, and construction (EPC) contractors and financial institutions. The initiative aims to double the refinery’s production capacity and enhance its refining capabilities. Senior management from PRL recently visited China to meet with EPC contractors and financial institutions, laying the groundwork…

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OGRA Cuts Gas Prices: 10% Reduction for SNGPL and 4% for SSGC, Effective July 1

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OGRA-GAS

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has announced a reduction in average gas prices for Sui Northern Gas Pipelines Limited (SNGPL) by 10% and Sui Southern Gas Company (SSGC) by 4%, effective from July 1, 2024. After holding hearings on the petitions of these gas utilities, OGRA assessed their estimated revenue requirements (ERRs) and identified surpluses, necessitating a…

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IMF Briefed on Likely Solar Policy Changes

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Solar-Policy

ISLAMABAD: The Power Division informed the visiting IMF mission that electric power consumers pay an annual Rs800 billion in taxes through electricity bills, leading to an Rs8 per unit increase. Removing these taxes could reduce the tariff by Rs8 per unit. Consumers also pay electricity duty, PTV fees, and surcharges. Officials suggested reducing the taxation burden by Rs100-200 billion annually,…

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Govt to Replace Independent Directors in Power Distribution Companies

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power-project

ISLAMABAD: The federal government has deemed the performance of independent directors in power distribution companies (Discos) unsatisfactory and has decided to replace them. The federal cabinet will soon approve these changes. Prime Minister Shehbaz Sharif has approved the summary for appointing new board members for nine out of eleven government electricity distribution companies, excluding Sepco and Hesco. The new appointments…

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