Month: July 2024

NEPRA Instructs K-Electric to Minimize Load-Shedding Amid Heat Wave

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power-breakdowns

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has issued directives to K-Electric (KE) to take immediate measures to mitigate load-shedding in Karachi, following numerous public complaints and the ongoing heat wave. In a letter to KE’s CEO, NEPRA referenced a communication dated June 26, 2024, concerning heat wave-related casualties and load-shedding issues. It also mentioned a public hearing on June 27, 2024, regarding a multiyear tariff petition filed by KE. The regulator highlighted that consumer complaints have surged due to prolonged load-shedding in Karachi, particularly during the current heat…

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SSGC to Suspend Gas Supply to Half of Karachi on Sunday

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gas-loadshading

KARACHI: The Sui Southern Gas Company (SSGC) has announced a 24-hour suspension of gas supply to nearly half of Karachi, starting Sunday morning, to facilitate the installation of a new pipeline in the city’s western region. In a statement issued on Friday, the gas utility detailed the undertaking of hook-ups for a 24-inch diameter, 31-kilometer pipeline from SMS ACPL to DMS Surjani in Karachi. “To carry out this vital task, gas will be temporarily shut down from Sunday, July 28, 2024, 5 am, till Monday, July 29, 2024, 5 am,”…

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Petrol and Diesel Prices Expected to Drop on August 1

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Petroleum-prices

ISLAMABAD: Following two consecutive price hikes, the prices of petrol and high-speed diesel (HSD) are anticipated to decrease by approximately Rs3 and Rs8.50 per litre, respectively, from August 1. This expected drop is due to a decline in international market prices and import premiums. According to sources, the international market prices for petrol and HSD have fallen by about $2 and $3 per barrel over the last fortnight. With final calculations and current tax rates, petrol prices are projected to decrease by Rs2.90 per litre and HSD by Rs8.50 per…

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SITE industrialists laud MD SSGC for laying dedicated gas pipeline

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MD-SSGC

KARACHI: Members of SITE Association of Industry have highly appreciated laying of dedicated 24 inch dia, 31-KM long high pressure gas pipeline for industrial consumers of SITE area, Karachi. In a reception hosted in honour of SSGC Managing Director Muhammad Imran Maniar at SITE Association of Industry, members very much praised the dedicated efforts of MD SSGC made during past three years for resolving the long pending issue of low gas pressure or zero gas pressure in SITE area, which ultimately proved fruitful. On this occasion, an standing ovation was…

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PPIB Seeks Forex Allocation for International Arbitration Expenses with SHPL

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PPIB-Zorlu

ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has requested foreign exchange to cover outstanding expenses related to international arbitration with M/s Star Hydropower Limited (SHPL). The Government of Pakistan is currently facing significant litigation challenges in this matter. PPIB Managing Director Shahjahan Mirza stated that SHPL initiated arbitration against NTDC at the London Court of International Arbitration (LCIA), resulting in a May 18, 2022, award against NTDC. The verdict required NTDC to pay Rs2,019,318,458 for delayed invoices plus interest (KIBOR plus 4.5%), $16,452,807 as damages, $2,272,240 in legal costs,…

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