Month: August 2024

Pakistan Considers Importing Coal from Kyrgyzstan to Bolster Energy Supply

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coal-project

ISLAMABAD: Pakistan is exploring the possibility of importing coal from Kyrgyzstan for power generation, a temporary measure until power plants can transition to Thar coal, according to sources from Business Recorder. The Ambassador of Pakistan to Kyrgyz Republic recently met with Talaibek Baigaziev, Kyrgyz Deputy Minister of Energy, to discuss potential energy cooperation between the two countries. During the meeting, Baigaziev expressed satisfaction with the resumption of the CASA-1000 project, anticipating its completion by the end of 2026. He also mentioned the Kyrgyz Energy Minister’s interest in a phone call…

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CCOP Approves Sale of Six Loss-Making Power Firms; Consumers to Bear Rs200 Billion Burden

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Power-Projects

ISLAMABAD: The Cabinet Committee on Privatisation (CCOP) has approved the sale of six of the highest loss-making power distribution companies and four power generation companies, which collectively incur annual losses exceeding Rs200 billion. This decision, aimed at reducing the financial strain on the power sector, indicates that consumers will continue to face high electricity bills to cover these losses. The CCOP, led by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, reiterated its commitment to privatizing 24 state-owned enterprises (SOEs) over the next five years. Despite this decision,…

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Karachi Residents Face New Municipal Utility Charges in Electricity Bills

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Your-Bill

KARACHI: In a move that adds to the financial burden of Karachi’s residents, the Karachi Metropolitan Corporation (KMC) has formally notified the collection of the controversial Municipal Utility Charges and Tax (MUCT) through K-Electric (KE) bills. This new charge will cost residents up to Rs400 extra in their electricity bills for the current month. Officials from both KMC and KE have confirmed the implementation of MUCT, which is expected to generate over four billion rupees annually for the city’s municipal administration. A KMC official stated that KE consumers will see…

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PM Shehbaz Focuses on Reducing Electricity Prices to Boost Economy

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Shahbaz-Sharif

Emphasizes the need for affordable electricity for agriculture and industry growth.Criticizes politicization of electricity pricing, citing inefficiencies and corruption in the FBR and energy sector.Requests China to reprofile Pakistan’s debt to secure IMF bailout. ISLAMABAD: In response to Jamaat-i-Islami’s (JI) 48-hour ultimatum to reduce electricity prices, Prime Minister Shehbaz Sharif announced on Friday that the government is committed to providing relief to energy consumers. He urged against politicizing the issue, stating that doing so disrespects the public. During a cabinet meeting, the Prime Minister highlighted that reducing electricity prices is…

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High Capacity Payments Threaten Economy: APTMA

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Nepra-Price

High Capacity Payments Threaten Economy: APTMA August 2, 2024 KARACHI: The All Pakistan Textile Mills Association (APTMA) has blamed Independent Power Producers (IPPs) for the country’s high electricity tariffs, stating that exorbitant capacity payments to IPPs have jeopardized Pakistan’s economy. Addressing a press conference at the APTMA house in Karachi, Zahid Mazhar, Chairman of APTMA Southern Zone, criticized measures in the Federal Budget FY25 as being anti-exports, which he warned could lead to deindustrialization and a significant drop in exports. Mazhar highlighted that the textile sector, which contributes 55% to…

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Private Sector Profits from Cheap Russian Oil, Public Left Out: Petroleum Minister

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Musadik-Malik

ISLAMABAD: Minister for Petroleum, Dr. Musadik Masood Malik, has accused the private sector of reaping substantial profits from the import of discounted Russian oil without passing the benefits to the general public. This claim was made during a recent meeting led by Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, to finalize the agenda for an upcoming high-level meeting in Moscow. Dr. Malik noted that the December 2022 visit significantly strengthened bilateral relations, focusing on energy cooperation. However, he expressed concerns that the cheaper Russian oil, intended to benefit…

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Visa-Free Entry for Chinese Citizens from August 14: PM

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Visa-Chines

ISLAMABAD: Prime Minister Shehbaz Sharif announced that from August 14, 2024, Chinese citizens will be granted visa-free entry to Pakistan. He highlighted the mutual benefits of relocating Chinese industries to Pakistan through joint projects during a meeting with a high-level 12-member Chinese delegation led by Minister Wang Fukang. Prime Minister Sharif emphasized the significance of joint projects for both nations, expressing confidence in the positive outcomes of the delegation’s visit. He noted that recent meetings with Chinese leadership have spurred high-level delegations to Pakistan, enhancing cooperation in industry, agriculture, special…

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OMCs Allowed to Import to Address Deficit

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oil and gas

ISLAMABAD: Pakistan, being a net importer of crude oil and refined products, lacks sufficient feedstock to fully utilize its refining capacity, necessitating the import of crude oil, according to industry experts. This response comes amidst news that Pakistan State Oil (PSO) has lost 5% of its market share to Gas & Oil Pakistan Limited (GO). Experts explained that the country’s refineries cannot produce enough gasoline and diesel to meet national demand, prompting oil marketing companies (OMCs) to import refined products. To manage this, the Oil and Gas Regulatory Authority (OGRA)…

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Millions Face Inflated Electricity Bills in April-June: NEPRA Investigation

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power-sector

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has uncovered that millions of consumers across Pakistan were subjected to inflated electricity bills between April and June. This occurred as they lost access to subsidized rates and slab benefits, a direct result of extended pro rata billing practices. A report by the Power Information Technology Company (PITC) revealed that power companies, including Karachi Electric (KE), expanded pro rata billing beyond its intended scope. Initially designed to adjust bills for periods exceeding 30 days, it was instead applied to periods under 30…

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Consultative workshop for the wind-solar hybrid project under a B2B arrangement

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Consultative workshop for the wind-solar hybrid project under a B2B arrangement August 1, 2024 The Government of Sindh for the very first time held an interactive session, participated by the relevant stakeholders, to showcase the massive potential of the province to produce clean electricity by combining wind and solar renewable sources that are abundantly available in the provincial territory. The Sindh government’s Energy Department teamed up with the Energy Update to present to the concerned stakeholders its proposed plan for the wind-solar hybrid project under a B2B arrangement with greater…

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