2024 - Page 28 of 199 -

Govt Revises Agreements with 8 Bagasse-Fired IPPs, Securing Billions in Savings

October 23, 2024October 23, 2024 Admin

ISLAMABAD: The government has successfully renegotiated agreements with eight bagasse-fired Independent Power Producers (IPPs), achieving substantial financial savings estimated between Rs 85-100 billion. These revisions include a reduction of Rs 8 billion from the Rs 22 billion recently approved for upward tariff adjustments. Among the sugar mills signing the revised Power Purchase Agreements (PPAs) are Hamza Sugar Mills, Chiniot Sugar…

Centre and AJK Struggle to Finalise Power Tariff and Water Usage Charges

October 23, 2024October 23, 2024 Admin

ISLAMABAD: The federal government and the Azad Jammu and Kashmir (AJK) government have been unable to agree on electricity tariffs and Water Usage Charges (WUC), with significant differences emerging between federal entities and the AJK authorities. In a recent meeting chaired by Advisor to the Prime Minister on Inter-Provincial Coordination, Rana Sanaullah Khan, it was noted that multiple discussions had…

Discos Seek Rs8.5bn Refund for September Fuel Overcharges

October 23, 2024October 23, 2024 Admin

ISLAMABAD: Public sector power distribution companies (Discos) have requested a refund of approximately Rs8.5 billion, proposing a 70-paise per unit negative fuel cost adjustment (FCA) in upcoming bills for electricity consumed in September. This marks the third consecutive month of negative FCAs, largely attributed to increased fuel allowances following a 20% rise in base tariffs, effective from July 1, 2023,…

Nepra Grants 14% Dollar-Based Return to K-Electric in Divisive Decision

October 23, 2024October 23, 2024 Admin

ISLAMABAD: In a split decision, the National Electric Power Regulatory Authority (Nepra) has approved a 14% dollar-indexed return on equity (ROE) for K-Electric (KE) generation plants under a multi-year tariff extending to 2030. This decision, which faced strong opposition from Nepra’s member tariff, is tied to KE’s power plants operating on fuels like high-speed diesel (HSD) and liquefied natural gas…

Sindh Chief Minister Launches Solar Energy Initiative at Karachi Central Jail

October 22, 2024October 22, 2024 Admin

Karachi – Sindh Chief Minister Syed Murad Ali Shah, alongside Minister of Energy Sindh, inaugurated the solarization of Central Jail Karachi, a pioneering project aimed at reducing energy costs and promoting sustainable energy solutions within the correctional facility. The project has a total installed capacity of 614.8 KW, exceeding the building’s energy demand of 549.5 KW. Implemented under the Sindh…

Sindh Chief Minister Inaugurates Solar Power Project at DUHS Hospital, Karachi

October 22, 2024October 22, 2024 Admin

Karachi – Sindh Chief Minister Syed Murad Ali Shah, along with provincial ministers Sharjeel Memon, Nasir Hussain Shah, Saeed Ghani, Ali Hassan Zardari, and Waqar Mehdi, inaugurated a significant solar power project at the Dow University of Health Sciences (DUHS) Ojha Campus Hospital. This initiative, launched under the Sindh Solar Energy Project (SSEP) with support from the World Bank, is…

Oil prices dip as Blinken arrives in Israel for talks, China demand weighs

October 22, 2024October 22, 2024 Admin

TOKYO/SINGAPORE: Oil prices eased on Tuesday as the top US diplomat renewed efforts to push for a ceasefire in the Middle East and as slowing demand growth in China, the world’s top oil importer, continued to weigh on the market. Brent crude futures for December delivery were down 60 cents, or 0.8%, at $73.69 a barrel at 0717 GMT. US…

Going green: Lucky Cement completes 28.8MW wind power project

October 22, 2024October 22, 2024 Admin

Lucky Cement, one of Pakistan’s largest cement manufacturers, completed and commissioned the 28.8MW captive wind power project at its Karachi plant. The company announced the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday. “We are pleased to announce the successful completion and commissioning of our 28.8 MW captive wind power project at the company’s Karachi plant,…

Israel-Hezbollah War Live Updates: Lebanon says 13 killed in Israeli strike near south Beirut hospital

October 22, 2024October 22, 2024 Admin

Israel Hezbollah War Live Updates: The Israeli military issued an apology on Monday for a strike that mistakenly killed three Lebanese soldiers in southern Lebanon, explaining that it had not intended to target Lebanon’s military. According to the military, its forces believed they were aiming at a vehicle connected to the Hezbollah militant group. Hezbollah recently declared that it has…

India Set to Launch Coal Exchange to Stabilize Prices and Improve Supply

October 22, 2024October 22, 2024 Admin

NEW DELHI: India is preparing to launch a coal exchange aimed at stabilizing coal prices and enhancing the fuel’s availability, according to Coal Minister G. Kishan Reddy. Speaking at an industry event on Monday, the minister revealed that discussions on establishing the exchange took place last week, though the exact launch date was not disclosed.