You are here

Month: May 2024

Government Reviews K-Electric Model for DISCOs Privatization

Admin
circular-debt-K-electric-ceo

ISLAMABAD: The federal government is examining the K-Electric (KE) privatization model while considering various options for the privatization of other power distribution companies (DISCOs). A committee formed by the prime minister recently held extensive deliberations to determine the most suitable model for the power sector, focusing on privatization and concession models. The discussion aimed to address critical issues and identify…

Read More

Government Seeks to Shift Cost of Defaulters’ Bills to Paying Consumers

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

ISLAMABAD: Struggling to recover over Rs1.3 trillion in outstanding dues from chronic private defaulters, the government has proposed an immediate additional cost of Rs1.45 per unit to be charged to paying power consumers for three months, aiming to raise an additional Rs52 billion. At a public hearing led by National Electric Power Regulatory Authority (Nepra) Chairman Waseem Mukhtar, the Power…

Read More

WAPDA Chairman Visits Diamer-Bhasha Dam Site

Admin
Bhasha-Dam

GILGIT: WAPDA Chairman, retired Lt Gen Sajjad Ghani, visited the Diamer-Bhasha Dam site on Friday to review the ongoing construction activities and assess the progress of the work. During the visit, Mr. Ghani was informed that work is actively underway at 14 key sites of the project, which is located across the Indus River, 40 km downstream of Chilas town…

Read More

Karachi German Consul General Assured to Prioritize Visas to Businessmen Atif Ikram Sheikh

Admin

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has said that the German Consul General in Karachi, H. E. Rüdiger Lotz, has apprised the business, industry and trade community from the apex platform of FPCCI that the business visas will be given priority in the visa issuance to Pakistani citizens as economic relations top the agenda. It is pertinent to note…

Read More

OGDCL ANNOUNCES PRODUCTION ENHANCEMENTAT NASHPA WELL-10 IN DISTRICT KARAK

Admin
New-OGDCL

ISLAMABAD, May 17, 2024: Oil and Gas Development Company Limited (OGDCL) has announced a significant production enhancement at Nashpa Well-10, located in the Karak District of the Khyber Pakhtunkhwa as part of its production enhancement campaign. Through a production enhancement strategy, OGDCL has implemented rigless intervention techniques in various formations, resulting in a significant increase in hydrocarbon production. With the…

Read More

Korean Firm Wins Arbitration Case Against NTDC Over Patrind Hydropower Project

Admin
dam-hydro

ISLAMABAD: In a significant legal setback for the Government of Pakistan, the Korean firm Star Hydro Power Limited (SHPL) has triumphed in its case against the National Transmission and Despatch Company (NTDC) in the London Court of International Arbitration (LCIA). The dispute centered on the inclusion of escalated costs in the true-up tariff and NTDC’s failure to evacuate electricity from…

Read More

Pakistan Seeks Extension on $15.36bn Chinese IPPs Debt Amid IMF Review

Admin
china-pak

ISLAMABAD: As an IMF team arrives to assess Pakistan’s debt repayment capabilities, the country is considering a 5-year extension on the $15.36 billion debt owed to Chinese Independent Power Producers (IPPs). This move requires approval from the Chinese government and its IPPs, necessitating extensive negotiations. A top official confirmed to The News that reducing consumer tariffs by Rs1.1 from 2024-2029…

Read More

OGRA Endorses PSO’s Exchange Rate Adjustment Claim

Admin
OGRA

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has validated Pakistan State Oil’s (PSO) claim for an exchange rate adjustment of Rs1.43 per litre on high-speed diesel (HSD) and 32 paisa per litre on petrol. This adjustment will be incorporated in the petroleum price review for May 16-31. During the first half of May, PSO’s exchange rate adjustment was negative…

Read More

Govt Plans Conversion of Imported Coal-Run Power Plants to Thar Coal

Admin
Power-Plants

ISLAMABAD: The government intends to convert three power plants currently running on imported coal to utilize Thar coal, in collaboration with the Chinese government, according to sources from Business Recorder. Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, who recently visited China, has been tasked with engaging the National Development and Reform Commission of China (NDRC) to facilitate the…

Read More

Government Proposes Carbon Tax on Fuel to Secure IMF Support

Admin
New-IMF

Insiders say move will facilitate green bonds, cheaper loans from multilateral institutions Withholding tax on bank transactions for non-filers likely to be hiked; carrot-and-stick approach to broaden tax baseFiscal adjustment of Rs1.6 trillion likely through additional revenue measures, privatisation ISLAMABAD: In a bid to secure continued support from the International Monetary Fund (IMF), the government is considering introducing a carbon…

Read More