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Day: October 24, 2024

KCCI appeals Govt to notify six working days to uplift economy, facilitate trade & industry

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KCCI-Import

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani has appealed the government to immediately reinstate six working days for federal and provincial governments and all their relevant authorities, institutions, and departments to uplift the economy and facilitate trade and industry.In a letter sent to Prime Minister Shehbaz Sharif, President KCCI stated that since 2011, the business…

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KP Government to Host Roadshows for Energy Sector Investment

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energy-sector

PESHAWAR: The Khyber Pakhtunkhwa (KP) government is set to organize a series of roadshows in major cities across Pakistan—Karachi, Lahore, Islamabad, and Peshawar—to attract investment in the province’s energy sector. According to Muzzammil Aslam, Adviser to the Chief Minister for Finance, the roadshows aim to highlight investment opportunities and provide key data to potential investors. A technical committee has been…

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Government Plans to Apply Disco Tariffs for Special Economic Zones

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European-electricity

ISLAMABAD: The government is considering a proposal to provide electricity to Special Economic Zones (SEZs) at the same rates applicable to power Distribution Companies (Discos) and K-Electric (KE), sources told Business Recorder. This move, however, would conflict with the government’s commitment to the International Monetary Fund (IMF) to eliminate concessional tariffs for industries and refrain from granting new fiscal incentives…

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Finance Ministry Opposes Legalisation of Revenue-Based Load Shedding

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Load-shedding

ISLAMABAD: The Ministry of Finance (MoF) has expressed reservations over the Power Division’s proposal to legalise revenue-based load shedding, arguing that the plan lacks sufficient data to justify its economic benefits, according to sources cited by Business Recorder. Currently, power Distribution Companies (Discos) and K-Electric (KE) enforce economic load shedding as per the Power Division’s policy, which lacks legal backing…

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Power Generation Drops 6.4% as Energy Mix Shifts and Demand Slows

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Power-Project

KARACHI: Power generation in Pakistan dropped by 6.4% to 12,487 gigawatt-hours (GWh) in September, compared to the same month last year. The decline was driven by rising energy costs, an increase in off-grid solar power production, and weakening demand from struggling industrial sectors. This reduction in demand for national grid power is expected to raise the capacity payment burden on…

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OGDCL Wins Corporate Excellence Award 2024

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OGDCL-Awards

The Oil and Gas Development Company Limited (OGDCL) has secured the prestigious Corporate Excellence Award 2024 in the Oil and Gas Exploration category. The accolade, organized by the Management Association of Pakistan (MAP), highlights OGDCL’s outstanding management practices and unwavering commitment to operational excellence in the energy sector. Mr. Javed Raza Soomro, General Manager (Production) at OGDCL, received the award…

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