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…
Read More
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…
Read More
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…
Read More
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,…
Read More
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…
Read More
The Renewable Energy Association of Pakistan (REAP) has requested the federal government to consult it as a key stakeholder in the clean power sector to obtain expert input before finalizing the revision of net-metering terms and conditions in the country. The Chairman of REAP, Nasir Latif, recently sent a letter to the Federal Energy Minister, Awais Ahmad Khan Leghari, emphasizing…
Read More
Islamabad, May 20, 2024: The Oil and Gas Regulatory Authority (OGRA) determines the revenue requirements of sui companies for F.Y 2024-25. The average prescribed price per MMBTU of gas is recommended as Rs. 1635.90 and the decrease in price per MMBTU is Rs. 179.17 with decrease percentage of 10% for SNGPL. The financial impact of previous years’ shortfall of Rs.…
Read More
HARIPUR: The foreign consultancy firm overseeing the Tarbela 5th hydropower project (T5 HPP) has announced the suspension of its services due to a payment dispute with the Water and Power Development Authority (WAPDA), sources report. Tarbela 5th Extension Project Consultants (T5C), a consortium of Mott MacDonald England and MM Pakistan, issued a termination notice to WAPDA, citing several unpaid invoices.…
Read More
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved K-Electric’s seven-year Power Acquisition Plan (PAP 2024-30), allowing the utility to increase its generation capacity by approximately 3,200MW, primarily through renewable energy sources. The plan includes a significant expansion of power received from the national grid, expected to nearly double from 1,100MW to 2,050MW, resulting in a projected 9% reduction…
Read More
QUETTA: Members of the Balochistan Assembly have called on the federal government to initiate the installation of LPG gas plants to address the gas shortage in the province. During the session, MPA Asad Baloch presented a resolution advocating for the establishment of LPG gas facilities in remote areas. The resolution highlights the urgent need for reliable energy sources in underserved…
Read More
