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Day: June 21, 2024

Ginlong (Solis) Technologies and TÜV Rheinland Announce Strategic Partnership during Intersolar 2024

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01-Project

Ginlong (Solis) Technologies, the world’s third-largest PV inverter manufacturer, has announced a strategic working agreement with TÜV Rheinland (Shanghai) Co., Ltd., the industry-leading research and testing body. This partnership brings together two leaders in technology and innovation, united by their vision for dedicated excellence in testing and certification. Strategic Alliance to Drive Continuous Improvement in Technology The partnership will see…

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Nepra Imposes Fixed Monthly Charges on Domestic Consumers Starting July 1

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ISLAMABAD: Starting July 1, 2024, the National Electric Power Regulatory Authority (Nepra) will implement a new electricity tariff structure, introducing fixed monthly charges ranging from Rs200 to Rs1,000 for domestic consumers. This adjustment, aimed at bolstering DISCOs’ revenue, will affect five residential consumer categories based on monthly unit consumption. Domestic consumers using 301-400 units per month will incur a fixed…

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Government Sacks DISCO Boards Amid Massive Losses; Seaports Declared Strategic Assets

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power-subsidy

ISLAMABAD: The government has once again sacked the boards of nine power distribution companies (DISCOs) in light of their significant fiscal losses, amounting to Rs589 billion this year. This marks the second time within a month that the Cabinet Committee on State-Owned Enterprises (CCoSOEs) has taken this action, following previous decisions thwarted by political pressure. Additionally, the government has designated…

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Power Production Sees First Increase in 7 Months; Fuel Costs Drop

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Power-Project

KARACHI: In May 2024, Pakistan’s power sector recorded its first increase in electricity production in seven months, rising by 3% year-on-year to 12,617 gigawatt hours (GWh). This growth was accompanied by a notable 10% reduction in fuel costs, largely due to a surge in hydel generation, which has zero fuel cost. Despite the reduction in fuel costs, electricity distribution companies…

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PBC Raises Concerns Over Budget Proposals

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PBC-Budget

KARACHI: The Pakistan Business Council (PBC) has expressed serious concerns over certain budget proposals, fearing they will negatively impact the formal, tax-paying sector of the economy. The PBC criticized the government’s focus on significantly increasing the tax-to-GDP ratio without a corresponding reduction in government expenditure, arguing that it places an unfair burden on existing taxpayers. In a statement released on…

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