KP Awaits Rs38.9 Billion Net Hydel Profit Payment, Minister Confirms

Khyber-Pakhtunkhwa

ISLAMABAD: Minister for Water Resources Musadik Masood Malik informed the National Assembly that Rs38.925 billion remains outstanding as the Net Hydel Profit (NHP) share owed to the Khyber-Pakhtunkhwa (KP) government as of October 3, 2024. Responding to a question from Sahibzada Sibghatullah, Malik said the Central Power Purchasing Agency (CPPA-G) has raised its payments to WAPDA, enabling monthly disbursements of…

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Senate Panel Raises Alarm Over Alleged Unlicensed Gas Sale in Badin-IV South Block

Gas-Sale

ISLAMABAD: The Senate Standing Committee on Petroleum voiced serious concerns on Friday regarding the alleged sale of gas from the Badin-IV South Block in Sindh through an unlicensed third-party company. Chaired by Senator Umer Farooq, the committee convened at Parliament House and requested a comprehensive report on the matter in the next session. The Petroleum Division’s representatives shared that an…

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Punjab Embraces Green Growth with Local Solar Panel Manufacturing Deal

Solar-Panel

LAHORE: Punjab’s push for green industrial expansion took a significant step as Provincial Minister for Industries, Commerce, and Investment Chaudhry Shafay Hussain announced a finalized agreement with a Chinese company to establish solar panel manufacturing in the province. Addressing the Lahore Chamber of Commerce and Industry (LCCI), Hussain emphasized Punjab’s focus on alternative energy to reduce production costs and support…

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Govt Proposes New Payment Model for IPPs to Curb ‘Excessive Profits’

Govt-Proposes

The government has introduced a new financial framework aimed at restructuring payments to 18 independent power producers (IPPs) by cutting down their capacity costs and recovering what it considers “excessive profits” accumulated over past years. This initiative involves renegotiating power purchase agreements with IPPs established under the 1994 and 2002 policies. The negotiations, expected to conclude shortly, are part of…

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Ministry of Energy and Water Signs Agreement with Chinese Company

The Ministry of Energy and Water announces the signing of an agreement with a Chinese company to invest in energy production projects from domestic resources in Afghanistan. Abdul Latif Mansoor, acting Minister of Energy and Water, urged the company not only to invest in energy production but also to support projects for energy transmission lines and the strengthening of distribution…

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Conversion of power plants to coal: NEA of China seeks to set up working group for talks

ISLAMABAD: The National Energy Administration (NEA) of China is said to have shown willingness, in principal, to establish an ad hoc working group to facilitate discussion on conversion of three imported coal-fired power plants to local coal, well-informed sources in the PPIB told Business Recorder. This update was shared with the Power Division which is finalizing sectoral plan to support Government…

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NEPRA reveals a ‘net increase’ in November energy bills. What does this mean for consumers?

NEPRA

Rising fuel cost adjustments and limited energy diversification put Pakistani consumers at risk of escalating electricity bills. Here’s how the total tariff works and what to expect moving forward. In a recent NEPRA hearing for September’s fuel cost adjustments (FCA), a case officer revealed a potential increase of ‘15 paisa per unit’ in the energy tariffs for XW-Wapda Distribution Companies…

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Pakistan’s Solar Boom: $2.1 Billion in Solar Panels Imported Amid 155% Power Tariff Hike

Solar-Panels

ISLAMABAD: Pakistan imported approximately 15 GW of solar panels worth $2.1 billion from China last fiscal year, driven by surging electricity costs—up 155% in three years—according to a recent study, The Great Solar Rush in Pakistan. This shift has led to a 10.4% decrease in grid electricity demand, with further reductions projected, underscoring the need for grid modernization and revised…

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Weak Oversight in Oil and Gas Sector Sparks Concerns Over CSR Fund Misuse

CSR-Funds

ISLAMABAD: The Standing Committee on Energy (Petroleum Division) has raised concerns over inadequate regulatory oversight, leading to the misuse of Corporate Social Responsibility (CSR) funds and uncollected Production Bonus and Training Funds intended for capacity-building by exploration and production (E&P) companies. Chaired by Syed Mustafa Mehmood, the committee convened to examine the allocation, utilization, and transparency of CSR funds within…

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ADB Warns Climate Change Could Slash Pakistan’s GDP by 21.1% by 2070

Climate-Change

ISLAMABAD: Pakistan’s gross domestic product (GDP) could shrink by 21.1% by 2070 under a high-emission climate scenario, according to the Asian Development Bank’s (ADB) latest “Asia-Pacific Climate Report 2024: Catalyzing Finance and Policy Solutions.” The report highlights that climate change impacts could lead to a 17% GDP loss across Asia and the Pacific by 2070, with the region’s GDP losses…

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