ISLAMABAD – Consumers paid an extra Rs167.787 billion (equivalent to Re. 0.7551 per unit) for expensive power generation due to the unavailability of the 969 MW Neelum Jhelum Hydropower Project (NJHP) from FY 2022-23 to FY 2024-25, a high-level committee chaired by the Federal Minister for Power revealed. According to sources close to the Chairman WAPDA, the tariff for NJHP…
Read More
ISLAMABAD – In a significant move to revitalize Pakistan’s energy sector, the Special Investment Facilitation Council (SIFC) has opened the gas market to private players. This reform is projected to slash circular debt by Rs71 billion annually and generate Rs13 billion in government revenue through sales tax. Ghiyas Abdullah Paracha, CEO of Universal Gas Distribution Company and a member of…
Read More
ISLAMABAD – The International Monetary Fund (IMF) has turned down Pakistan’s proposal to reduce industrial electricity prices by Rs2.70 per unit, citing concerns over cross-subsidies and the need for comprehensive power sector reforms. The Ministry of Energy had suggested eliminating cross-subsidies provided by the industrial sector to low-end residential consumers, offering Rs37 billion in relief for February to June and…
Read More
ISLAMABAD – A Senate subcommittee has mandated a fresh audit of solar panel imports since 2018, expressing dissatisfaction with the handling of a staggering Rs70 billion under- and over-invoicing scandal involving two importers and commercial banks. During the meeting chaired by Senator Mohsin Aziz, the Senate Standing Committee on Finance and Revenue unveiled alarming revelations of massive financial irregularities. Two…
Read More
Islamabad – A major reshuffle in Pakistan’s energy leadership appears to be on the horizon, as reports suggest Prime Minister Shehbaz Sharif is set to remove Dr. Musadik Malik from his position as Federal Minister for Petroleum. The revelation comes from senior journalist Sohail Iqbal Bhatti, who shared the details during a recent podcast episode. According to Bhatti, discontent within…
Read More
HBL (Habib Bank Limited) reaffirms its dedication to sustainability and positive social change through its 2023 Impact Report, which reflects the bank’s commitment to addressing climate change, promoting financial inclusion, and combating poverty. Embracing the values of the Aga Khan Development Network (AKDN), HBL believes that true impact extends far beyond charitable contributions. With ambitious goals, HBL is targeting Net…
Read More
ISLAMABAD: Wang Shengjie, China’s political secretary to Pakistan, has expressed grave concerns about the future of the $62 billion China-Pakistan Economic Corridor (CPEC), citing Pakistan’s “false rhetoric” and inadequate security measures. In an interview with The Guardian, Wang highlighted growing tensions over unmet expectations and security risks jeopardizing China’s flagship Belt and Road Initiative project. “Without improved security, who would…
Read More
ISLAMABAD: Pakistan has called for enhanced global policies and concessional financing to help developing countries, struggling with limited fiscal space, transition to clean energy. This appeal was made during an event co-hosted by Islamabad to mark the ‘International Day of Clean Energy’ at the United Nations (UN) headquarters in New York, as reported by state media on Sunday. Observed annually…
Read More
BEIJING: The National Energy Administration (NEA) has issued the final Administrative Measures for the Development and Construction of Distributed Solar Power Generation, replacing the interim regulations from 2013. These comprehensive rules outline standards for all stages of distributed solar projects, including definitions, oversight, project filing, construction management, grid integration, and operations. Effective May 1, 2025, the new framework will apply…
Read More
KARACHI: Solar Citizen, a prominent solar solutions provider, organized the Solar Circle event at Bagh Ibne Qasim, Clifton, uniting community leaders, environmentalists, and families in a mission to advance renewable energy and sustainability. As part of their ambitious ‘A Tree for Every Kilowatt’ initiative, Solar Citizen aims to plant one tree for every kilowatt of solar energy installed across Pakistan,…
Read More
