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Day: November 27, 2024

October FCA: CPPA-G Proposes Rs2.6 Billion Refund for Power Consumers

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Power-sector

ISLAMABAD – The Central Power Purchasing Agency-Guaranteed (CPPA-G) has proposed refunding Rs 2.6 billion to power Distribution Companies (Discos) consumers for October 2024 under the monthly Fuel Charges Adjustment (FCA) mechanism. During a public hearing chaired by NEPRA Chairman Waseem Mukhtar, CPPA-G representative Naveed Qaisar revealed that the FCA variation for October was recorded at Rs 9.2583 per unit, compared…

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2,300 Chinese Companies Driving Investment in Pakistan: PCJCCI Vice President

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New-PCJCCI

LAHORE – Zafar Iqbal, Vice President of the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI), revealed during a meeting with the executive body that approximately 2,300 Chinese companies are actively operating in Pakistan. These companies, ranging from small to large-scale enterprises, are investing across diverse sectors, including the China-Pakistan Economic Corridor (CPEC). Expanding Investment HorizonsIqbal highlighted Chinese interest…

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Karachi Business Leaders Announce Launch of ‘Air Karachi’ Airline

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Air-Karachi

KARACHI – In a significant move, Karachi’s business community has unveiled plans to launch Air Karachi, a new airline aimed at boosting the city’s connectivity and economy. The announcement, led by prominent businessman Hanif Gohar at the Karachi Press Club, highlighted an initial investment of Rs 5 billion. Details of the Initiative:Registered with the Securities and Exchange Commission of Pakistan…

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Adani’s Renewable Energy Dream Faces Turmoil Amid US Bribery Allegations

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clean-energy-1

NEW DELHI – Gautam Adani’s ambitious renewable energy project, a cornerstone of India’s clean energy goals, is under scrutiny following a US indictment accusing Adani and key executives of paying $265 million in bribes to secure power supply contracts in India. The Vision:Adani Green’s energy park in Gujarat, set to be five times the size of Paris, aims to produce…

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Business Seeks Clarity Amid Mixed Messages from COP29 on Climate Goals

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Cop-29

BAKU – The COP29 climate summit in Azerbaijan concluded with agreements on climate finance and carbon market frameworks, but lingering uncertainties leave businesses seeking more concrete details. While the summit pledged $300 billion annually in climate finance by 2035 and advanced rules for carbon offset trading, the outcomes remain insufficient for many developing nations and private sector stakeholders. Key Outcomes…

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Criticism Mounts Over Exclusion of Net-Metering from Winter Electricity Package

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NEPRA-KE

ISLAMABAD – Business and industry groups have criticized the government’s decision to exclude solar net-metered consumers from its winter electricity package, urging the authorities to ensure K-Electric passes the benefits to Karachi’s residents. During a public hearing by the National Electric Power Regulatory Authority (Nepra), stakeholders raised concerns about delayed implementation, with nearly 20 days of the three-month package already…

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Power Tariff to Rise by 26 Paise Per Unit in December: Nepra

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NEPRA

ISLAMABAD – The National Electric Power Regulatory Authority (Nepra) announced on Tuesday that the negative fuel cost adjustment (FCA) requested by ex-Wapda distribution companies (Discos) would result in an effective tariff increase of 26 paise per unit in December. During a public hearing, Nepra revealed that while the Central Power Purchasing Agency (CPPA) proposed a reduction of Rs1.02 per unit…

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Celebrate Eid Al Etihad 53 in Dubai with Spectacular Experiences

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Eid-Al-Etihad

Dubai, UAE – Dubai is set to dazzle this Eid Al Etihad 53 with an exciting lineup of experiences, ensuring an unforgettable long weekend from November 28 to December 3. Visitors and residents can immerse themselves in the festive spirit with: Breathtaking Fireworks: Witness stunning displays illuminating Dubai’s skies on December 1, 2, and 3 across iconic city locations.Vibrant Cultural…

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