ISLAMABAD: The power sector regulator, National Electric Power Regulatory Authority (Nepra) has expressed total dissatisfaction over the performance of Lahore Electric Company Limited (Lesco) and stated that its losses are significantly higher against the allowed losses by Nepra. During a public hearing on a petition filed by the Lesco for allowing multi-years’ tariff from the fiscal year 2023-24 to 2027-28…
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August 9, 2023: Subsequent to completion of restoration works in the tail race tunnel, Neelum Jhelum Hydropower Project has resumed electricity generation. Federal Minister for Water Resources Syed Khursheed Ahmed Shah visited Neelum Jhelum Hydropower Project and resumed the electricity generation by pressing the button. He also unveiled a plaque to mark resumption of electricity generation from the project. At…
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World leaders gathering in Dubai for COP-28 this year to fully support Pakistan due to its serious climate risk: UAE Consul General Karachi: The concerned world community assembling at the United Nations Climate Change Conference-2023 (COP-28) to be held in Dubai later this year is sure to provide special financial assistance to Pakistan keeping in view its serious vulnerability due…
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ISLAMABAD: The pledge for the Cabinet to approve an updated Circular Debt Management Plan (CDMP) by end-July 2023 as stipulated in the Memorandum of Economic and Financial Policies section of the Stand-by Arrangement (SBA) documents uploaded on the International Monetary Fund website on 12 July 2023 has yet to be met. The updated CDMP envisaged clearance of circular debt stock…
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Prime Minister Shehbaz Sharif on Tuesday confirmed that the term of the National Assembly would be cut short prematurely on August 9 (today), paving the way for a caretaker setup to take up the reins after consultations with the opposition leader. PM Shehbaz Sharif will formally recommend to President Arif Alvi the dissolution of the 15th National Assembly once the…
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Pakistan on Tuesday approved issuing $3 billion worth sovereign guarantees against a Chinese loan for a nuclear power plant and also stamped an operator-favoured State Support Agreement for the outsourcing of the Islamabad International Airport. The Economic Coordination Committee (ECC) of the outgoing cabinet took these decisions but left a decision for the import of at least one million metric…
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TORONTO: Barrick Gold Corp is open to bringing in Saudi Arabia’s wealth fund as one of its partners in Pakistan’s Reko Diq gold and copper mine, Barrick CEO Mark Bristow told Reuters in an interview on Tuesday. He also dismissed a June media report that Barrick was in talks with fellow Canadian miner First Quantum Minerals on a possible acquisition as a…
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In a world where energy security stands as a linchpin of progress and prosperity, Pakistan’s decision to halt the ambitious Iran-Pakistan Gas Pipeline Project has ignited a discourse that intertwines economic aspirations, diplomatic maneuvers, and strategic intricacies. The complexities inherent in this choice reverberate beyond mere energy dynamics, encompassing a plethora of benefits and challenges that must be meticulously weighed.…
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ISLAMABAD: At last, after one year and one month, the 969 MW Neelum-Jhelum hydropower project that became non-operational on July 6, 2022, due to a blockage in the 3.5 km Tail Race Tunnel (TRT) has been connected to the national grid by making one unit of 242.25 MW operational. Out of the remaining three units, two units would be made…
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ISLAMABAD: Before leaving office, the PMLN-led coalition government on Monday approved the merger of quarterly tariff increases for K-Electric with other distribution companies (Discos) seeking more than Rs4 per unit additional cost worth Rs145 billion for recovery in July-September billing, besides clearing amendments to the power transmission policy for speedy investments from Gulf Cooperation Council (GCC) through negotiations on government-to-government…
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