You are here

Month: May 2024

Power Distribution Companies Seek Nepra’s Approval for Rs51.88 Billion Recovery

Admin
KE’S- 7-YEAR- INVESTMENT-ROADMAP

State-owned power distribution companies (Discos) have formally requested the National Electric Power Regulatory Authority (Nepra) to approve the recovery of Rs51.88 billion from consumers. This recovery is attributed to various adjustments for the third quarter of fiscal year 2023-24, spanning from January to March 2024. A significant portion of this amount, constituting 60.4% or Rs31.35 billion, comprises capacity charges from…

Read More

E&P Companies Push for Depletion Allowance Amidst Regulatory Challenges

Admin
oil-discovery

In a bid to bolster hydrocarbon exploration and production (E&P) in Pakistan, companies are urging the government to grant a 15% depletion allowance on ageing fields, advocating for a waiver on the additional 15% wellhead value. This plea comes amidst discussions to ease the windfall levy on gas and condensate, emphasizing the need for incentives to optimize operations in mature…

Read More

Empowering Communities: Battery Storage Revolutionizes Renewable Energy in Pakistan

Admin
Solar-wind

A recent study unveils the transformative potential of Battery Energy Storage Systems (BESS) when integrated with solar and wind power, promising a substantial drop in electricity costs to as low as 6-8 cents per unit. Released under the title “Integrating Battery Storage with Renewables: A Techno-economic Analysis,” this study is a collaborative effort between Renewables First and the Policy Research…

Read More

Grid vs rooftop: the energy debate

Admin
solar-panel

Pakistan’s total electricity consumption, as measured in terms of sales, has decreased to 112.9 TWh in FY2023 from 124.6 TWh in FY2022 The recent hype and chaos around net-metering and the roof-top solar taxation fiasco has brought the power sector of Pakistan to the brink of another planning conundrum. Pakistan’s total electricity consumption, as measured in terms of sales, has…

Read More

World Bank’s Ongoing Support for Energy Sector Reforms Applauded by Pakistani Ministers

Admin

Federal Minister for Petroleum Dr. Musadik Malik and Federal Minister for Power Awais Leghari recently met with Martin Raiser, South Asia Regional Vice President of the World Bank, to discuss ongoing reforms and support in the energy sector, as per a press release. During the meeting, both sides exchanged ideas on the reform agenda and highlighted the technical assistance provided…

Read More

Saudi Manara Minerals Team Continues Talks on Reko Diq Mine Stake in Pakistan

Admin
Pakistan-Reko-Diq-mine

A delegation from Saudi Arabian mining company Manara Minerals is currently in Islamabad for ongoing discussions regarding acquiring a stake in Pakistan’s Reko Diq gold and copper mine, according to a Pakistan government document. The Reko Diq mine, located in Balochistan province, is recognized as one of the largest underdeveloped copper-gold areas globally, jointly owned by global mining company Barrick…

Read More

Gas Crisis Hits Karachi’s Diplomatic Community

Admin
gas-project-katlang

The gas supply crisis in Karachi is impacting every segment of society, including the city’s diplomatic community. Iran’s Consul General in Karachi, Hassan Nourian, recently shared his experiences of facing gas challenges, highlighting the difficulty of cooking meals on some nights. Nourian discussed the energy needs of Pakistan and the long-delayed gas pipeline project between Iran and Pakistan during the…

Read More

Power Division Urgently Seeks Rs130 Billion for Subsidies and Grants

Admin
power-sector

The Power Division has urgently requested the disbursement of approximately Rs130 billion to cover subsidy payments for K-Electric and Azad Jammu & Kashmir (AJK). This request, along with other supplementary grants from various ministries, is set for approval by the Economic Coordination Committee (ECC) of the Cabinet, to be chaired by Finance Minister Muhammad Aurangzeb. The Power Division’s foremost request…

Read More

Pakistan Business Council Advises SIFC to Focus on Investment Climate Transformation

Admin
business-community

The Pakistan Business Council (PBC) has directed the Special Investment Facilitation Council (SIFC) to prioritize the transformation of Pakistan’s investment climate, especially to attract foreign direct investment (FDI). In a letter, Ehsan Malik, CEO of PBC, urged SIFC to address fragmentation within key ministries and promote long-term policy predictability. Malik emphasized the importance of learning from existing investors’ experiences, highlighting…

Read More

Engro and Dawood Hercules Corporation Agree on Restructuring Plan

Admin

In a significant development, Engro Corporation Ltd (Engro Corp) and Dawood Hercules Corporation Ltd (DH Corp) have given initial approval to a restructuring plan aimed at optimizing investment opportunities within the enterprise. The proposal, subject to final board and shareholder approvals, has been formally communicated to the PSX on Monday. This strategic restructuring aims to synergize investment efforts between Engro…

Read More