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Day: September 13, 2024

PPIB Facilitates Landmark Achievement: USD 1.7 Billion Suki Kinari Hydropower Project Completes Reliability Run Test

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The Private Power & Infrastructure Board (PPIB), as a one-window facilitator for private investment in the power sector on behalf of the Government of Pakistan, is thrilled to announce the successful commissioning of the 884 MW Suki Kinari Hydropower Project under the China Pakistan Economic Corridor – CPEC (CPEC). This milestone achievement represents a significant investment of USD 1.7 Billion.on…

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Inauguration Ceremony of IEEEP Fair 2024

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IEEEP-2024

The Inauguration Ceremony of IEEEP Fair 2024, organized by Badr Expo, was held on September 10, with great fanfare. Minister Energy, Planning, and Development, Syed Nasir Hussain Shah graced the occasion with his presence.The event witnessed excellent participation from both local and foreign entities, fostering great collaborations. The insightful conference and enlightening exhibition aimed to promote Pakistan’s growth in the…

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Tarbela Dam Celebrates 50 Years of Vital Contributions to Pakistan’s Agriculture and Clean Energy

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dam-tarbela

ISLAMABAD: Tarbela Dam celebrates its 50th anniversary this year, commemorating five decades of crucial contributions to Pakistan’s agriculture, flood control, and clean energy generation. Completed in 1974, the dam has significantly bolstered the national economy by releasing 406 million acre-feet (MAF) of water for irrigation and generating over 590 billion units of eco-friendly electricity for the grid. As the world’s…

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DISCOs Suffer 16% Power Losses Amid Widespread Electricity Theft in FY 2023-24

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power-gride

ISLAMABAD: The National Assembly was informed on Thursday that Distribution Companies (DISCOs) across Pakistan recorded 16% electricity losses during the fiscal year 2023-24, amidst 84,362 reported incidents of power theft nationwide. Authorities arrested 291 individuals and dismissed 47 DISCO employees for their involvement in facilitating the theft. According to a written response presented during the Question Hour, DISCOs registered 7,068…

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Pakistan Secures IMF Deal for $7 Billion Loan, Plans Stricter Tax Measures on Existing Filers

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pak-imf

ISLAMABAD: Pakistan announced on Thursday that it has resolved all outstanding issues with the International Monetary Fund (IMF), paving the way for a $7 billion loan approval later this month. Finance Minister Muhammad Aurangzeb confirmed that the IMF board is set to finalize the deal by September 25, 2024, marking the start of a 37-month program aimed at stabilizing the…

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NEPRA Fines K-Electric Rs10 Million for Safety Lapse

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circular-debt-K-electric-ceo

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has fined K-Electric (KE) Rs10 million for a safety lapse that led to the death of a person within its service area during the fiscal year 2022-23. NEPRA also directed KE to pay Rs3.5 million in compensation to the victim’s family and provide a job to the next of kin. KE was…

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Major Cut in Fuel Prices: Rs47.54 per Litre Decrease Since May

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Petrol-price

Minister for Petroleum Division, Musadik Masood Malik, informed the National Assembly that since May, petroleum prices in Pakistan have dropped by Rs47.54 per litre. Malik explained that while Pakistan purchases fuel at international market rates, it benefits from discounts on the premium, particularly under an agreement with Kuwait for diesel. Malik also highlighted that friendly nations sometimes offer extended payment…

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