Author: Admin

NA Panel Seeks Original CSR Agreements Between KPT and Gas Firms

Admin
New-Project92

ISLAMABAD: A National Assembly standing committee on Tuesday expressed concern over the utilisation of Corporate Social Responsibility (CSR) funds and directed the Karachi Port Trust (KPT) to submit original agreements signed with two gas transport companies—Karachi Gas Transport Ltd (KGTL) and Karachi Gas Terminal Maintenance Ltd (KGTML)—to ensure transparency. The Standing Committee on Maritime Affairs, chaired by Abdul Qadir Patel, stressed that access to the original contracts was essential for proper oversight. While acknowledging some progress, the committee decided to seek additional documentation and convene a follow-up meeting to ensure…

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Azerbaijan Signals Willingness to Invest Up to $2bn in Pakistan

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Muhammad-Aurangzeb

ISLAMABAD: Pakistan and Azerbaijan are moving to convert their strong diplomatic ties into concrete economic cooperation, with Baku showing readiness to invest nearly $2 billion in Pakistan, particularly in the energy and extractive sectors, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said on Tuesday. In an interview, the finance minister noted that bilateral relations—especially with Azerbaijan—have strengthened since the current government took office, supported by frequent high-level engagements. These include visits by Prime Minister Muhammad Shehbaz Sharif and Pakistan’s participation in international engagements around the COP29 timeframe in…

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EU Sanctions Pakistani-Canadian Trader Over Russian Oil Dealings

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Russian-oil

BRUSSELS: The European Union has imposed sanctions on a little-known Pakistani-Canadian businessman for allegedly facilitating the trade of sanctioned Russian oil and helping sustain Moscow’s war economy. The latest measures, adopted by the EU on Monday, target individuals and entities accused of assisting Russia in bypassing Western restrictions on crude oil exports. The new sanctions bar EU citizens and companies from conducting business with those listed and restrict their access to shipping, insurance and other critical services. To date, the EU has sanctioned more than 2,600 individuals and companies linked…

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Power Utilities Seek Rs5.6bn Refund for November Through Negative Fuel Adjustment

Admin
Your-Bill

ISLAMABAD: Power distribution companies have moved to pass on a relief of about Rs5.6 billion to electricity consumers by seeking a 72 paisa per unit negative fuel cost adjustment (FCA) for November’s power consumption, to be reflected in January electricity bills, despite heavy reliance on cheaper domestic energy sources. The Central Power Purchasing Agency (CPPA) has filed a petition with the National Electric Power Regulatory Authority (Nepra), which has scheduled a public hearing on December 31 to review the request. If approved, the refund will apply to consumers of ex-Wapda…

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Proposed Net-Metering Overhaul Targets Prosumers to Shore Up Power Utilities

Admin

ISLAMABAD: In a move likely to alarm solar consumers, the National Electric Power Regulatory Authority (Nepra), on government directions, has proposed sweeping changes to Pakistan’s net-metering regime that would significantly reduce incentives for solar prosumers. The draft Prosumer Regulations, 2025, released for public consultation, aim to replace the existing Alternative and Renewable Energy Distributed Generation and Net Metering Regulations, 2015. Under the proposed framework, prosumers would no longer be allowed to install solar capacity beyond their sanctioned load, effectively cutting the permissible system size by around 50 percent. Currently, consumers…

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