Author: Admin

PAC Grills Power Division Over Soaring Costs, Load shedding, and Sector Mismanagement

Admin
Power-sector

ISLAMABAD, 23 July 2025 — The Public Accounts Committee (PAC) launched a scathing critique of the Ministry of Energy during a detailed review of audit objections, highlighting skyrocketing electricity costs, unchecked growth in capacity payments to independent power producers (IPPs), prolonged load-shedding, and stalled development projects. Chaired by MNA Junaid Akbar Khan, the PAC questioned officials from the Central Power Purchasing Agency (CPPA-G) on the exponential rise in IPP capacity—from 9,765MW in 2015 to 25,642MW in 2024—and the corresponding surge in annual capacity payments from Rs141 billion to Rs1.4 trillion.…

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91% of New Renewable Projects in 2024 Outcompeted Fossil Fuels on Cost: IRENA

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Solar-wind

IRENA Report Confirms Renewables’ Global Cost Leadership Amid Grid, Financing Challenges Abu Dhabi, 23 July 2025 — The International Renewable Energy Agency (IRENA) has confirmed that 91% of new renewable energy projects commissioned in 2024 were cheaper than the most affordable fossil fuel alternatives. In its latest Renewable Power Generation Costs in 2024 report, IRENA highlights that renewables are now the world’s most cost-effective power sources—delivering economic, environmental, and security benefits globally. Onshore wind emerged as the most economical technology at USD 0.034/kWh, while solar PV followed at USD 0.043/kWh—making…

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President FPCCI Meets Field Marshal Syed Asim Munir NI (M) Along With Trade & Industry’s Delegation

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asim munir

Karachi: Atif Ikram Sheikh, President FPCCI; President ECO-CCI and VP CACCI, has said that FPCCI extends its deepest and most heartfelt gratitude to Field Marshal Syed Asim Munir, NI (M), for graciously meeting with the trade and industry delegation led by Dr. Gohar Ejaz, a prominent business man and former federal caretaker minister & SM Tanveer We salute the Field Marshal’s exemplary commitment to engagement with the business community – demonstrating both patience and concern for economic issues faced by the businesses and the people of Pakistan, he added. During…

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Audit Exposes Rs244 Billion Power Billing Scam Involving Eight DISCOs

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Power-sector

ISLAMABAD: A shocking audit by the Auditor General of Pakistan has uncovered a massive electricity overbilling scandal involving eight power distribution companies (DISCOs), defrauding consumers of Rs244 billion during the 2023–24 fiscal year. The report reveals that Islamabad Electric Supply Company (Iesco), Lahore (Lesco), Hyderabad (Hesco), Multan (Mepco), Peshawar (Pesco), Quetta (Qesco), Sukkur (Sepco), and Tribal Areas Electric Supply Company (Tesco) overbilled consumers to conceal line losses, electricity theft, and operational inefficiencies. In a single month, five of the companies overcharged 278,649 consumers by Rs47.81 billion. Over 900 million extra…

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OGRA initiated Comprehensive Digitisation of Oil Supply Chain to Ensure Transparency, Curb Pilferage, and Strengthen National Energy Security

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New-Project11

Islamabad, July 22, 2025 — The Oil & Gas Regulatory Authority (OGRA) has conducted a semniar at OGRA Headquarters to formally initiated a comprehensive digital platform to fully digitise Pakistan’s oil supply chain and is at highly advanced stage of the development. The digitisation will cover the import terminals to the fuel dispensing stations, in a move aimed at eliminating inefficiencies, curbing pilferage, and restoring public trust in the energy sector. In a decisive statement, the Chairman OGRA Masroor Khan affirmed: “Pakistan’s oil sector must embrace digitisation — fully and…

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