January 30, 2025 -

“Pakistan’s Solar Boom: 22 GW Imported in 18 Months, 10% Drop in Grid Demand”

January 30, 2025January 30, 2025 Admin

Islamabad: Pakistan is witnessing an unprecedented solar revolution as communities and businesses take charge of their energy needs, outpacing government policies and traditional infrastructure. With a staggering 22 GW of solar panels imported in just 18 months, the country is undergoing a massive shift towards decentralized solar solutions. However, sustaining this momentum requires urgent policy reforms, infrastructure upgrades, and market…

Textile Industry Calls for Swift CTBCM Implementation with Low Wheeling Charges

January 30, 2025January 30, 2025 Admin

ISLAMABAD: The textile industry has urged the government to expedite the implementation of the Competitive Trading Bilateral Contract Market (CTBCM), ensuring a multi-seller, multi-buyer model with minimal wheeling charges of 1-1.5 cents per unit to boost industrial productivity. In a letter to Secretary Petroleum Momin Agha, the All Pakistan Textile Mills Association (APTMA) stressed that the CTBCM framework must exclude…

Govt Moves to End Free Electricity for Power Sector Employees

January 30, 2025January 30, 2025 Admin

ISLAMABAD: The government is set to end free electricity perks for employees in the Power Division, including those in distribution and generation companies, as part of broader reforms to ease financial strain on the energy sector, Federal Energy Minister Owais Leghari announced on Wednesday. Currently, power sector employees receive free electricity worth an average of Rs6,000 per month, adding a…

Pakistan eyes $100bn investment for ‘green energy revolution’

January 30, 2025January 30, 2025 Admin

Pakistan Targets $100 Billion Investment for Green Energy Revolution ISLAMABAD: Pakistan is set to attract $100 billion in investments to drive its ambitious green energy transition, aiming to expand renewable energy, cut carbon emissions, and build a sustainable energy future. Federal Minister for Power Awais Ahmad Khan Leghari, while briefing the Senate Standing Committee on Climate Change, outlined a roadmap…

Energy Update Extends Warm Wishes to China and Solar Industry on Lunar New Year

January 30, 2025January 30, 2025 Admin

KARACHI: On the joyous occasion of the Chinese Spring Festival and the Year of the Snake, Energy Update extends its heartfelt greetings to the people of China, President Xi Jinping, and the global solar industry, especially Chinese solar companies and partners who have been instrumental in driving the renewable energy revolution worldwide. China’s remarkable leadership in clean energy and solar…

Pakistan Faces Rs5 Trillion Annual Loss in Maritime Sector Due to Underutilization and Malpractices

January 30, 2025January 30, 2025 Admin

ISLAMABAD: Pakistan’s maritime sector suffers an annual loss of nearly Rs5 trillion ($18 billion) due to underutilized ports, tax evasion, fraudulent practices, and inefficiencies in trade and value addition, according to a high-level task force report. The report, presented to the prime minister, highlights that: Underutilized ports account for a staggering Rs3.19 trillion loss.Tax evasion in the maritime sector costs…

Minister Warns of Gas Price Misuse, Calls for Transparent Mechanism

January 30, 2025January 30, 2025 Admin

ISLAMABAD: A key cabinet minister has raised concerns over the potential misuse of cheaper industrial gas for power generation, cautioning that captive power plant (CPP) owners might exploit loopholes or seek legal stay orders to avoid the recent price hike. Minister of State for Finance, Ali Pervaiz Malik, has urged the government to introduce a transparent mechanism to prevent industries…

Govt Eyes Rs55bn Windfall from Gas Tariff Hike for CPPs

January 30, 2025January 30, 2025 Admin

ISLAMABAD: The government is set to collect over Rs55 billion in prior year adjustments (PYA) during FY25, following a Rs500/MMBtu increase in gas tariffs for captive power plants (CPPs), aligning with IMF-mandated reforms. The tariff hike from Rs3,000/MMBtu to Rs3,500/MMBtu has pushed the weighted average gas tariff to Rs1,722/MMBtu, with an expected annual average of Rs1,689/MMBtu, according to Hamdan Ahmed,…

Petroleum Prices Likely to Rise Again Amid Global Market Trends

January 30, 2025January 30, 2025 Admin

ISLAMABAD: Petrol, high-speed diesel (HSD), and kerosene prices are expected to increase by up to Rs6 per litre on February 1, driven by rising international oil prices. According to sources, petrol prices could see a Rs2-3 per litre hike, while HSD and kerosene may rise by around Rs6 per litre based on the latest calculations. The increase follows a $2…