Author: Admin

AGL Tariff Revision Deal Under Scrutiny: DG Audit Seeks Full Record of Agreement

Admin
New-ARL

ISLAMABAD: The Director General Audit (Power) has requested the complete documentation related to the negotiated agreement between Attock Gen Limited (AGL) and the Government of Pakistan, sources told Business Recorder. The agreement, reached after negotiations between AGL and the Central Power Purchasing Agency–Guaranteed (CPPA-G), and facilitated by the federal Task Force on Energy, was formally approved by the Federal Cabinet. However, the DG Audit has now stepped in to assess the transparency and implementation of the revised pact. In an official communication, Taimur Khan, Inspecting Officer (IP-MoE), has asked the…

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Gwadar Coal Power Project Faces Financial, Regulatory Hurdles: Chinese Firm Raises Alarm

Admin
cpec

ISLAMABAD: The planned 300 MW coal-fired power plant in Gwadar, a key component of the China-Pakistan Economic Corridor (CPEC), is facing serious financial and regulatory challenges, according to a detailed letter from M/s CIHC Pak Power Company Limited (CPPCL) to the Private Power and Infrastructure Board (PPIB). CPPCL Chairman Zhao Bo raised concerns over delayed approvals, foreign exchange losses, and restrictions on currency conversion, which have rendered the project commercially unviable in its current form. In his letter to Shah Jahan Mirza, Managing Director of PPIB, Zhao confirmed that CPPCL…

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inDrive Accelerates Pakistan’s Shift to Electric Vehicles with Innovative Ride-Hailing Solutions

Admin
in-Drive

LAHORE/ISLAMABAD: Pakistan’s transport sector is gaining momentum in its transition from fossil fuels to electric vehicles (EVs), with global mobility platform inDrive leading a series of groundbreaking initiatives to support this green shift. Aligned with the government’s goal of achieving 30% EV penetration by 2030, inDrive is actively fostering local partnerships, encouraging innovation, and introducing cost-effective solutions for drivers. “The EV market in Pakistan is gaining traction with the rise of local manufacturers and the entry of Chinese players,” said Aman Alekseev, Impact Projects Manager at inDrive. “We aim to…

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Senate Panel Flags Lack of Transparency in Sindh’s Housing, Solar Projects

Admin
solar energy

ISLAMABAD: The Senate Standing Committee on Economic Affairs has raised serious concerns about the transparency and financial management of several foreign-funded development projects in Sindh, particularly in the housing and solar energy sectors. The committee, chaired by Senator Saifullah Abro, also pointed to irregularities in national transmission infrastructure initiatives. During the meeting, senators scrutinized the Sindh Solar Energy Project (SSEP), which aims to provide solar systems to low-consumption households. Officials reported that only 23,000 systems had been distributed out of the 200,000 planned. Senator Abro criticized the lack of clarity…

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Shell Q1 profit drops 28%, but beats expectations

Admin
shell

LONDON: Shell on Friday reported a 28% drop in first-quarter net profit to $5.58 billion, beating analyst expectations, and kept the pace of its share buyback programme steady amid falling oil prices and lower refining margins than last year. It said it would buy back $3.5 billion worth of shares for the next three months, the fourteenth consecutive quarter of a buyback programme of at least $3 billion. That contrasts with rival BP, which has sharply cut its buybacks this year to shore up its balance sheet. Shell’s gearing, a…

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