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Month: August 2024

Timely Action by OGRA, Provincial Government of Sindh, and Law Enforcement Agencies Prevents Catastrophe in Panu Aqil

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Oil-Gas

August 5th, 2024: The Oil and Gas Regulatory Authority (OGRA), in collaboration with the Government of Sindh, the District Government, and law enforcement agencies, has successfully halted the illegal mixing of CO2 gas with LPG in and around Panu Aqil, Sukkur. A decisive action has been taken against those violating the law, with FIRs registered and court proceedings initiated. This…

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Maritime Minister to leave for Denmark this month to ink MoU for US$2bln investment by Maersk

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New-Project

KARACHI: Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh, while appreciating Karachi Chamber for organizing 19th My Karachi Exhibition in a lively manner, informed that he will be leaving for Denmark this month to sign a Memorandum of Understanding (MoU) with Maersk, a renowned European shipping giant, which intends to invest US$2 billion.“After inking MoU, Maersk will start investing from…

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President Zardari Calls for Consensus on IPP Issue

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Asif-Zardari

FAISALABAD: President Asif Ali Zardari has emphasized the need to resolve the Independent Power Producers (IPP) issue through consensus among all stakeholders. During a meeting with the business community of Pakistan, President Zardari proposed forming a committee of business leaders to critically analyze the situation and submit workable recommendations. He assured that his office would fully cooperate with this committee…

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FPCCI Criticizes Discos for Issuing Inflated Power Bills

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fpcci-afghanistan

LAHORE: The Federation of Pakistan Chambers of Commerce & Industry’s (FPCCI) Businessmen Panel (BMP) has strongly criticized power distribution companies (Discos) for issuing highly inflated power bills to the trade and industry in the second quarter (April-June) of the current fiscal year 2024-25. Mian Anjum Nisar, BMP Chairman and former FPCCI president, warned that the high energy costs would severely…

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SNGPL Urges PPL to Ensure Continuous RLNG Supply to KE Amid Excess Gas Concerns

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Pakistan-LNG

ISLAMABAD: The Sui Northern Gas Pipeline Company (SNGPL) has raised alarms over the financial and operational implications of excess Re-gasified Liquefied Natural Gas (RLNG) in its system due to insufficient retention by Sui Southern Gas Pipeline Company Limited (SSGC). In response, SNGPL has urged Pakistan LNG Limited (PLL) to explore the possibility of maintaining a continuous supply of 150 MMCFD…

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Senate Committee Demands IPP Agreement Copies Amid Power Sector Crisis

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Power-sector

ISLAMABAD: The Senate Standing Committee on Power, led by Senator Mohsin Aziz, has requested copies of all Independent Power Producers (IPPs) agreements since 1994, alongside details of sponsors, amendments, heat rates, and comparative regional pricing. This move is part of a broader effort to address the critical issues affecting Pakistan’s power sector, which Senator Aziz described as a matter of…

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PM Forms Task Force for Power Sector Reform

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Shahbaz-Sharif

ISLAMABAD: In a decisive move to tackle the enduring financial and operational issues plaguing Pakistan’s power sector, the Prime Minister has established a high-level task force focused on implementing structural reforms. This initiative aims to alleviate the “financial burden on the federal government” and create an “efficient, liquid, and self-sustaining competitive power market,” according to a notification issued on Sunday.…

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Sindh govt set to distribute 2lac solar kits among low-income families in 30 distts: Murad ShahAgreement signed for distribution of SHS kits

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murad-ali-shah

KARACHI (Aug 3): “Sindh Chief Minister Syed Murad Ali Shah, speaking at the signing ceremony of framework agreements for solar systems, said that 200,000 Solar Home Systems (SHS) would be provided to low-income households selected through the Benazir Income Support Program (BISP) data in all districts of the province.” He said that by the end of October first batch of…

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Pakistan to Draft Dam Safety Act Inspired by Regional Legislation

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Mangi-Dam

ISLAMABAD: The Ministry of Water Resources has initiated the process of drafting a Dam Safety Act, modeled after similar laws enacted in Bangladesh and India. This update was shared with the Senate Standing Committee on Water Resources, chaired by Senator Shahadat Awan, following directives from the committee’s previous meeting. In the last meeting, the committee instructed the Ministry to create…

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NEPRA Approves Rs6.69 Billion Negative Adjustment for K-Electric for Apr-Jun 2023 Quarter

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KE’S- 7-YEAR- INVESTMENT-ROADMAP

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved a negative adjustment of Rs6.69 billion for K-Electric (KE) for the April-June 2023 quarter under the Quarterly Tariff Adjustment (QTA) mechanism. This adjustment will be incorporated into the new Multi-Year Tariff (MYT) for the period 2023-24 to FY 2029-30. The authority conducted a hearing regarding KE’s quarterly adjustment request on…

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