ISLAMABAD: Prime Minister Shehbaz Sharif has appointed Rashid Mahmood Langrial, a BS-21 officer of the Pakistan Administrative Services, as the new chairman of the Federal Board of Revenue (FBR). This move aims to quell speculations and address the need for end-to-end digitization of the tax process. The FBR chief position became vacant last month after Zubair Tiwana sought early retirement.…
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ISLAMABAD: The Senate Standing Committee on Power has called on the government to conduct a comparative analysis of electricity tariffs in neighboring and regional countries, highlighting the unaffordability of current power bills for the average Pakistani. Committee chairman Senator Mohsin Aziz emphasized the urgent need to address issues with independent power producers (IPPs), which have become a significant financial burden.…
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French oil major TotalEnergies has announced the sale of its 50% stake in Total Parco Pakistan Limited (TPPL) to global commodities trader Gunvor Group. This joint venture between TotalEnergies and Pak-Arab Refinery Limited (Parco) operates over 800 service stations in Pakistan and is involved in fuel logistics and lubricants. TotalEnergies stated that the transaction, pending regulatory approvals, aligns with its…
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LAHORE: The Power Division and ex-WAPDA Distribution Companies (DISCOs) are at odds over the implementation of the Rs73 billion “Asset Performance Monitoring System” (APMS) project, with differing opinions on its effectiveness. In a directive, the Power Division instructed DISCOs to submit the PC-1 of the APMS project, aimed at 100KVA general duty distribution transformers, for board approval by August 9.…
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KARACHI: In a significant development for Pakistan’s energy sector, new oil and gas deposits have been discovered in the Kohat district of Khyber-Pakhtunkhwa (K-P). The well, operated jointly by Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Pakistan Oilfields Limited (POL), marks a critical step towards enhancing the country’s energy security. Additionally, PPL has revamped gas…
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ISLAMABAD: The federal government has announced plans to retire costly power plants in a bid to reduce electricity prices nationwide. This decision was conveyed by senior officials from the Power Division during a meeting with a delegation from Muttahida Qaumi Movement (Pakistan) on Monday. The discussions focused on electricity issues in Karachi and Hyderabad, and the capacity payments to Independent…
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ISLAMABAD: The Chamber of Commerce and Industry has filed a constitutional petition in the Supreme Court against independent power producers (IPPs), seeking to nullify the 1994, 2002, and 2015 policies that allowed state largesse disposal without competitive bidding. Filed by Advocate Faisal Naqvi, the petition urges the Supreme Court to declare that the government and its agencies cannot profit from…
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ISLAMABAD: Amid mounting criticism of independent power producers (IPPs), Prime Minister Shehbaz Sharif has established a task force to engage international firms in reviewing IPP agreements and proposing measures to reduce capacity payments. Currently, electricity consumers are burdened with over Rs2.2 trillion in capacity charges, including payments to non-operational IPPs. Consumers pay Rs9 per unit to active plants but a…
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ISLAMABAD: In response to growing concerns over unaffordable energy tariffs, the government is planning to reduce the return on equity (ROE) for its power plants and offer improved prices to attract more investments in hydrocarbon exploration and development. Sources informed Dawn that the government has decided to scale down the ROE for public sector power projects, including hydropower. With many…
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Karachi – The National Forum for Environment and Health (NFEH) is set to host a significant conference focusing on the nexus between climate change and food security at a local hotel on August 7th. The event will feature prominent figures including Minister for Environment, Climate Change and Coastal Development Dost Muhammad Rahimoon, and Sindh Energy and Planning & Development Minister…
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