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Month: July 2024

Government Seeks World Bank Support for Private Sector Participation in DISCOs’ Privatization

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Power-Project

ISLAMABAD: The government has approached the World Bank for Non-Lending Technical Assistance (NLTA) to facilitate private sector involvement in the privatization of power Distribution Companies (DISCOs), sources informed Business Recorder. In a letter to the World Bank’s Country Director, the Economic Affairs Division (EAD) stated that the Ministry of Energy (Power Division) seeks the World Bank’s support under NLTA for…

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Serious Design Flaws Identified in 969MW Neelum Jhelum Hydropower Project

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Neelum-Jhelum

ISLAMABAD: Significant design flaws have been identified in the 969MW Neelum Jhelum Hydropower Project in Azad Jammu and Kashmir (AJ&K). The Pakistani government has urged the Chinese company responsible for the project to rectify these issues promptly, sources informed Business Recorder. Built at a cost of over Rs 500 billion, the project has experienced numerous delays and periodic shutdowns, with…

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ECC Approves Petroleum Division’s Natural Gas Sale Pricing Proposals

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gas-meter

ISLAMABAD: The Economic Coordination Committee (ECC), led by Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb, approved the natural gas sale pricing proposals presented by the Petroleum Division. The meeting, held at the Finance Division on Sunday, included key attendees such as Petroleum Minister Musadik Masood Malik, Power Minister Sardar Awais Ahmad Khan Leghari, Minister of State for Finance…

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Gas Rates Hiked for Industrial Captive Power Units to Meet IMF DemandKey Points:

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Gas-Prices

9% Gas Rate Increase for Industrial Captive Power Units Rs133 Billion Relief Blocked for Other ConsumersISLAMABAD: In response to the International Monetary Fund’s (IMF) demands, the government announced a 9% increase in gas rates for industrial captive power units starting July 1. Additionally, it blocked a 15% (Rs133 billion) relief in average gas rates for other consumers despite lower international…

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