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…
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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…
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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…
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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…
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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…
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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,…
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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…
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Sindh Energy and Planning and Development Minister, Syed Nasir Hussain Shah, has said the provincial government will extend maximum assistance to the private sector willing to invest in the country to introduce electric vehicles and EV charging stations to curtail the fossil fuel consumption in the transport sector. The Sindh Energy Minister stated this on Wednesday while talking to the…
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KARACHI: K-Electric hosted an awareness march as part of its Hum Qadam facilitation camp in Liaquatabad FC Area to address customer needs, including new connections, bill payments, meter installations, and other related issues. The facilitation camp aims to provide residents with convenient solutions to their electricity-related concerns while enhancing interaction between power utility and customers. KE organises over 40 ‘Customer…
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PARIS: European Union soft wheat exports since the start of the 2024/25 season in July reached 12.18 million metric tons by Jan. 26, up compared to 11.74 million the previous week, but down 37% from a year earlier, European Commission data showed on Tuesday. However, the Commission said export data for Italy has been incomplete for the past seven weeks.…
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