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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,…

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

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Power-Project

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…

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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…

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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…

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High Capacity Payments Threaten Economy: APTMA

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Nepra-Price

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…

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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…

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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,…

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OMCs Allowed to Import to Address Deficit

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oil-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…

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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,…

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

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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…

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