Author: Admin

IESCO Declared Rs1 Billion Rent Defaulter for Using Municipal Properties in Rawalpindi

Admin
power-transmission

RAWALPINDI: In an unprecedented move involving a federal utility, the District Rent Assessment Committee (DRAC) and the Rawalpindi Municipal Corporation (RMC) have declared the Islamabad Electric Supply Company (IESCO) a defaulter, determining that it owes nearly Rs1 billion in unpaid rent for the use of municipal properties in Rawalpindi. On the directives of the Rawalpindi commissioner and administrator, IESCO has been served a notice to clear the outstanding dues within 15 days for its continued occupation of 11 commercial properties owned by the municipal corporation over the past 65 years.…

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OGRA Plans to End Fixed Asset-Based Returns in Gas Pricing Reform

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OGRA-GAS

ISLAMABAD: In line with the government’s plan to restructure state-owned gas utilities, the Oil and Gas Regulatory Authority (OGRA) has initiated a review of the existing gas pricing mechanism that allows guaranteed returns on fixed assets, citing evolving gas sector dynamics and ongoing market liberalisation. The federal government had directed OGRA to restructure the two public gas utilities—Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC)—by phasing out the asset-based return model. To this end, OGRA engaged consultancy firm KPMG to evaluate the current pricing formula, and…

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KCCI Rejects Gas Tariff Freeze, Demands Substantial Price Cuts for Industry

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KCCI-Project

KARACHI: The leadership of the Karachi Chamber of Commerce and Industry (KCCI) has expressed strong dissatisfaction over the government’s decision to freeze gas tariffs for six months, terming it an inadequate and cosmetic relief that fails to address the core challenges faced by industry. In a joint statement issued on Thursday, Businessmen Group (BMG) Chairman Zubair Motiwala and KCCI President Rehan Hanif said the business community had repeatedly urged the government to announce a meaningful reduction in gas tariffs to lower the cost of doing business and improve industrial competitiveness.…

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Nepra Approves 93-Paisa per Unit Fuel Cost Refund for January Bills

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved a fuel cost adjustment (FCA) relief of 93 paise per unit for electricity consumers across the country, including K-Electric. The refund will be passed on in electricity bills for January 2026 against power consumption in November 2025. In its notification issued on Thursday, Nepra said it had determined a negative FCA of Rs0.9326 per kilowatt-hour (kWh) for November. The relief will apply to all consumer categories of distribution companies, including K-Electric, except lifeline consumers, protected consumers, electric vehicle charging stations…

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PSO Rejects Fotco’s Unilateral Flow-Rate Penalties on Oil Cargoes

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PSO-Head

Karachi: Pakistan State Oil (PSO) has strongly opposed the unilateral imposition of flow-rate penalties by Fauji Terminal and Distribution Company Limited (Fotco) on the import and export of oil cargoes, stating it will not accept the proposed charges. In a letter addressed to Fotco’s chief operating officer, PSO said that, in line with the oil industry’s collective stance, it categorically rejects draft agreements and penalties that lack any “logical, contractual, legal or regulatory basis”. As the largest throughputter at Fotco, PSO warned that the proposed measures would place an unfair…

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