Monthly Energy Update September Magazine
Author: Admin
President Zardari seeks to resolve ‘outstanding issues’ with Shanghai Electric after K-Electric deal collapse
SHANGHAI: President Asif Ali Zardari has invited the Shanghai Electric Power Company to reinvest in Pakistan, assuring that any “outstanding issues” will be resolved amicably and in a spirit of mutual cooperation. The outreach follows Shanghai Electric’s decision to terminate its long-pending offer to acquire a majority stake in K-Electric, citing unfavorable changes in Pakistan’s business environment and the seller’s failure to meet closing conditions.The President’s assurance came during a meeting with Shanghai Electric Chairman Wu Lei in Shanghai, where he also encouraged the company to explore further investments in…
Read MorePetrol price steady as diesel costs rise by Rs2.78
ISLAMABAD: The federal government has increased the price of high-speed diesel (HSD) by Rs2.78 per litre for the next fortnight, while keeping the price of petrol unchanged. A notification from the Finance Division announced the new HSD rate is Rs272.77 per litre, with petrol remaining at Rs264.61 per litre.The decision means that while middle- and lower-middle-income groups using smaller vehicles will be unaffected, the cost of goods for the general public is expected to rise. The transport and agricultural sectors rely heavily on HSD, with price hikes typically leading to…
Read MoreHyderabad Electric Supply fined Rs100m for repeat offense
ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has imposed a Rs100 million fine on the Hyderabad Electric Supply Company (Hesco) for continuing excessive loadshedding on commercial grounds, violating regulations.This latest penalty follows a Rs50 million fine levied in April 2024 for the same offense: loadshedding based on Aggregate Technical and Commercial (ATC) losses, despite a lack of power generation shortfall. Hesco had previously failed to pay the initial fine or halt the practice, choosing instead to appeal the decision.After issuing a show-cause notice and holding legal proceedings, Nepra determined…
Read MoreFPCCI President Atif Ikram Sheikh Condemns State Bank’s Decision to Maintain Policy Interest Rate at 11%
Karachi: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has strongly condemned the State Bank of Pakistan’s recent decision to keep the policy interest rate at 11%, calling it “incomprehensible” given the current economic landscape. Sheikh expressed deep concern about the detrimental effects this stubborn stance will have on the business environment and the broader economy. Sheikh urged the central bank to reduce the policy rate to 6-7%, aligning it with prevailing inflation rates and economic realities to stimulate growth. He pointed out…
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