ISLAMABAD: Sui Southern Gas Company Ltd (SSGC) has disconnected gas supply to Pakistan Steel Mills (PSM) due to chronic payment defaults amounting to Rs98 billion, including Rs75 billion in interest and late payment surcharges. The Karachi-based gas utility stated that PSM began partially defaulting on monthly gas bill payments in November 2008 and ceased all payments after March 2015. Despite…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) announced an additional Rs3.33 per unit fuel cost adjustment (FCA) for May consumption, allowing ex-Wapda distribution companies (Discos) to collect an additional Rs41 billion in July. In contrast, K-Electric (KE) consumers will see a Rs1.67 per unit reduction in FCA based on April consumption, amounting to an overall financial impact of around…
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KARACHI/PESHAWAR: Despite the postponement of a planned strike by petroleum dealers on Friday evening, many consumers in Karachi faced difficulties obtaining petrol and diesel earlier in the day as several fuel pumps were either closed or out of stock. The strike was a protest against the government’s imposition of a 0.5% advance turnover tax, which the dealers argue would add…
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KARACHI – The Oil & Gas Regulatory Authority (Ogra) has formally protested against the publication of its communications with the refining sector in print media. In a letter addressed to the country’s five refineries on Thursday, Ogra criticized what it termed as “highly unprofessional” reporting that undermines collaborative efforts. Expressing dismay over the dissemination of news reports related to regulatory…
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SINGAPORE – India’s solar power generation expanded at its slowest pace in six years during the first half of 2024, according to analysis of data from the federal grid regulator. The growth in solar electricity production was overshadowed by a stronger reliance on coal to meet escalating power demands. Data from Grid-India revealed that electricity generated from coal increased by…
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ISLAMABAD – The Cabinet Committee on State-Owned Enterprises has approved the winding up of ENAR Petrotech Services Limited (ESPL). The committee, chaired by Federal Minister for Finance & Revenue Muhammad Aurangzeb, also decided on restructuring and preparing two power distribution companies, Tesco and Qesco, for privatization. During a meeting at the Finance Division on Thursday, the committee reviewed summaries from…
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ISLAMABAD – Energy Minister Awais Leghari acknowledged in the Senate on Thursday that electricity prices are currently high but assured that through reforms, the government aims to provide cheaper electricity to consumers within the next 18 months. During the question-answer session, Minister Leghari addressed circulating news about a federal cabinet decision to increase electricity rates. He clarified that the regulator…
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ISLAMABAD – The Power Division has announced the implementation of new electricity tariffs starting from July 2024. Most consumers will see a slight increase in their monthly bills due to the updated tariffs, with the government providing a substantial subsidy of Rs440 billion to mitigate the impact. In a statement, the Power Division detailed that for the 16.8 million (58%)…
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ISLAMABAD – The ongoing dispute among petroleum dealers has intensified, with factions within the Pakistan Petroleum Dealers Association (PPDA) divided over a nationwide strike. The government has hinted at raising dealer commissions to mitigate the impact of turnover tax, while oil marketing companies (OMCs) are seeking a 60% increase in their profit margins. Strike Call and Division Abdul Sami Khan,…
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ISLAMABAD – The National Electric Power Regulatory Authority (Nepra) has announced a public hearing on July 8 to discuss the proposed increase in electricity tariffs, which could pass an additional Rs700 billion burden onto consumers in the current fiscal year. This increase, set to take effect on July 1, 2024, will see the average national tariff rise by around Rs5.72…
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