ISLAMABAD: The Punjab government has expressed reservations about the proposed incentives in Pakistan’s LPG Policy 2024, citing potential impacts on its share of federal tax revenues. Sources revealed that Punjab has requested a detailed report from the federal government on the financial implications of the proposed tax incentives within the new LPG policy. The Shehbaz Sharif-led administration has revived efforts…
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ISLAMABAD: SkyElectric, a local firm, has successfully completed the initial phase of the Japan Electrical Safety and Environment Technology Laboratories (JET) testing programme, positioning itself as the first Pakistani company ready to enter the Japanese solar market. Co-founder and CEO Amin Sukhera hailed the accomplishment as a significant testament to SkyElectric’s technical excellence and dedication to meeting global standards. “The…
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ISLAMABAD: Pakistan has decided to revive the stalled 1,124MW Kohala Hydropower Project (KHPP) after a three-year delay, following an agreement with Chinese stakeholders, as confirmed by sources within the Planning Commission. The project had been on hold due to China Export and Credit Insurance Corporation (Sinosure) withholding insurance coverage, citing unpaid dues of over Rs550 billion owed by Pakistani power…
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ISLAMABAD: The privatization process for three major electricity distribution companies (Discos) officially commenced on Tuesday following a pivotal meeting co-chaired by Privatization Minister Abdul Aleem Khan and Power Minister Sardar Awais Ahmad Khan Leghari. The Privatisation Commission has called for technical and financial proposals to appoint financial advisers for the privatization of Islamabad Electric Supply Company (Iesco), Gujranwala Electric Power…
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KARACHI: K-Electric has received the lowest tariff bid for its 150-megawatt solar energy project in Balochistan, set to commence in the fourth quarter of FY25. Following the bid evaluation, K-Electric will submit a report to the National Electricity Power Regulatory Authority (NEPRA) before announcing the successful bidder. This 150MW project is part of K-Electric’s broader plan to introduce 1,300MW of…
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ISLAMABAD: The Senate Functional Committee on Devolution unanimously agreed on Monday to recommend the abolition of the Ministries of Industries and Production and Energy (Petroleum Division), proposing that their responsibilities be devolved to the provinces. Chaired by Senator Zarqa Suharwardy, the committee suggested that further recommendations regarding the distribution of these responsibilities to provinces or the Council of Common Interests…
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ISLAMABAD: The Senate Standing Committee on Energy has directed the Power Division to submit original agreements with Independent Power Producers (IPPs) and a detailed comparative analysis of similar contracts in other countries. This follows a commitment made by the Power Division last week to share these agreements and provide a comprehensive briefing. The committee, chaired by Mohsin Aziz, is set…
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ISLAMABAD: Amid rising tax pressures on the general public, it has been revealed that Independent Power Producers (IPPs) have benefited from substantial tax exemptions amounting to Rs1.217 trillion from the mid-1990s through the 2023-24 fiscal year, according to official sources. These tax breaks, in addition to capacity payments estimated to reach Rs2.091 trillion this fiscal year, have sparked debate. The…
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KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while referring to recent relief of Rs14 per unit announced for Punjab province only, urged the government to give a similar relief to Sindh also as the public and business community here are also going through the toughest time of their lives due to unbearably high and extremely…
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ISLAMABAD: The government is preparing to redefine electricity load-shedding by amending the Nepra Act and Performance Standards, aiming to legalize revenue-based load-shedding across the country under the guise of Aggregate Technical and Commercial (AT&C) losses. This move, long sought by the Power Division, risks depriving the poorest citizens of their fundamental right to electricity. The Power Division has cited increasing…
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