ISLAMABAD: The National Assembly was informed on Thursday that a total of Rs296 billion has been paid to Khyber-Pakhtunkhwa, Punjab, and Azad Jammu and Kashmir (AJK) in net hydel profit over the last decade. Responding during the question hour, Minister for Water Resources Musadik Malik detailed that Rs216 billion had been paid to Khyber-Pakhtunkhwa, Rs73.45 billion to Punjab, and Rs6.4…
Read MoreDay: September 6, 2024
China Resists Renegotiation of Capacity Tariff for IPPs Amid Pakistan’s $1 Billion Payment Delay
KARACHI: China has shown reluctance to renegotiate the capacity tariff agreements for Chinese Independent Power Producers (IPPs) operating under the China-Pakistan Economic Corridor (CPEC), citing delayed payments from Pakistan. Speaking at an event hosted by the All Pakistan Newspapers Society (APNS), Chinese Ambassador to Pakistan Jiang Zaidong emphasized that the capacity tariff was part of a universal arrangement made by…
Read MoreChinese Lenders Agree to Transition IPPs to Daily SOFR, Reject Term SOFR
ISLAMABAD: In ongoing discussions regarding the transition from the London Inter-bank Offered Rate (LIBOR) to the Secured Overnight Financing Rate (SOFR), Chinese lenders financing Independent Power Producers (IPPs) under the China-Pakistan Economic Corridor (CPEC) have agreed to adopt daily SOFR but rejected the Term SOFR option. During a suo motu hearing by the National Electric Power Regulatory Authority (NEPRA), it…
Read MoreFalling Oil Prices to Ease Pakistan’s Import Bill and Strengthen Forex Reserves
KARACHI: Pakistan’s external economy is benefiting from a 20% drop in global crude oil prices, as the reduced cost helps lower the import bill, build foreign reserves, and enhance the country’s debt repayment capacity. A report by JS Global titled “Oil Price Downturn – A Familiar Safety Net” highlights that global crude prices have fallen by $17 per barrel since…
Read MoreGovt Orders FIRs Against Grid Station Takeovers in KP
ISLAMABAD: After months of cautious restraint, the federal government has decided to initiate legal action against the forced takeovers of grid stations in Khyber Pakhtunkhwa (KP), involving the deployment of Frontier Constabulary (FC) personnel to safeguard power infrastructure. Tensions between the federal PML-N government and KP’s PTI-led administration have escalated since the general election, with the issue being a major…
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