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Day: September 7, 2024

Task Force Proposes Shift to Take-and-Pay Model for IPPs to Ease Consumer Burden

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power-subsidy

ISLAMABAD: A task force, formed by the prime minister to address capacity payments to Independent Power Producers (IPPs), has proposed transitioning from the current capacity-based payment model to a take-and-pay system. This change aims to relieve electricity consumers from paying for non-operating power plants, sources revealed on Friday. According to insiders, capacity payments currently make up 70% of the total…

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NEPRA Approves Rs1.75 per Unit Tariff Hike for DISCOs, K-Electric

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NEPRA-KE

ISLAMABAD – The National Electric Power Regulatory Authority (NEPRA) has approved an additional charge of Rs1.75 per unit for state-owned distribution companies (DISCOs) and K-Electric, effective over the next three months, to recover Rs43.23 billion through quarterly tariff adjustments. This increase, set for the fourth quarter of FY 2023-24 (April-June 2024), comes after a public hearing on August 26, presided…

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Govt Imposes Strict Austerity Measures: Ban on Vehicle Purchases, Overseas Medical Treatment

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Vehicle-Purchases

ISLAMABAD – In a significant move aimed at curbing public expenditure, the federal government has imposed a comprehensive ban on specific spending, including the purchase of new vehicles and state-funded medical treatment abroad. This follows a Finance Division notification issued this week, as the government grapples with economic pressures and criticism over its fiscal policies. The austerity measures are part…

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Petrol, Diesel Prices Set for Fourth Consecutive Cut: Rs10 per Litre Drop Expected

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Petroleum-prices

ISLAMABAD – For the fourth consecutive fortnight, petrol and high-speed diesel (HSD) prices are expected to decrease by approximately Rs10 per litre starting from September 15, thanks to a recent drop in international oil prices. However, the final reduction could be smaller if the government increases the petroleum levy to offset revenue shortfalls. Informed sources report that international petrol and…

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Major Oil and Gas Reserves Found in Pakistani Waters: A Game Changer for the Energy Sector

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Oil-Gas

KARACHI – In a potentially transformative development for Pakistan’s energy sector, significant oil and gas reserves have been discovered in the country’s territorial waters. A senior security official revealed that a three-year survey conducted in collaboration with a “friendly country” confirmed the presence of these substantial deposits. The discovery, hailed as a potential game-changer for the nation’s economy, could reduce…

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