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…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
