Author: Admin

Nepra Issues Show-Cause Notices to CPPA-G, NTDC Over Non-Compliance on BSPs and OPMs

Admin
NEPRA-Office

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has issued show-cause notices to the Central Power Purchasing Agency–Guaranteed (CPPA-G), the Market Operator (MO), and the National Transmission and Despatch Company (NTDC) for failing to sign Black Start Procedures (BSPs) and finalize Operating Procedure Manuals (OPMs) for power plants. Following a nationwide power outage in January 2021, Nepra initiated an inquiry and directed CPPA-G and NTDC to complete these crucial procedures. Despite repeated instructions, the agencies have yet to comply, prompting Nepra to consider legal action, including fines ranging from Rs.…

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SBP Projects 2.5-3.5% Growth, Warns of Risks from Global Energy Price Fluctuations

Admin
state-bank

KARACHI: The State Bank of Pakistan (SBP) has projected real GDP growth between 2.5% and 3.5% for FY25, citing improvements in macroeconomic conditions supported by stabilization policies, IMF engagement, and a favorable global environment. In its annual report for FY24, the SBP highlighted reduced economic uncertainty and a positive outlook, but cautioned that fluctuations in global energy prices could pose risks. The bank also emphasized that continued fiscal discipline, lower borrowing costs, and foreign inflows would boost growth in industry and services. However, the agriculture sector may face challenges, and…

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Oil Industry Criticizes Restrictive Fuel Pricing, Cites Major Losses

Admin
Oil-Price

ISLAMABAD: The oil industry has raised alarm over restrictive fuel pricing policies, claiming significant financial losses due to deviations from the government-approved pricing formula. In a letter to the Oil and Gas Regulatory Authority (Ogra), the Oil Companies Advisory Council (OCAC), representing refineries and oil marketing companies, warned that adjustments to the pricing mechanism effective from October 16, 2024, are causing millions in losses. The reduction of customs duty on high-speed diesel and cuts to the inland freight equalisation margin (IFEM) for diesel and petrol have further strained the industry.…

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Mega Motor Partners with BYD to Boost Pakistan’s Automotive Sector

Admin
Mega-Motor

KARACHI: Mega Motor Company, a subsidiary of Hub Power Company Ltd (Hubco), has signed a major partnership with BYD Auto Industry Company Ltd, the world’s leading manufacturer of new energy vehicles (NEVs). In a statement on Thursday, Hubco announced that the agreement includes manufacturing, marketing, distribution, and sales of BYD’s passenger vehicles in Pakistan. The deal also involves technical licensing for BYD’s products. With BYD’s cutting-edge technology and Mega Motor’s local expertise, this collaboration is expected to significantly advance Pakistan’s automotive industry, providing customers access to innovative vehicles from a…

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NEPRA Fines Power Company Rs50m for Misleading Filings

Admin
Nepra-tariff

ISLAMABAD: In an unusual regulatory action, the National Electric Power Regulatory Authority (NEPRA) has imposed a Rs50 million fine on Central Power Generation Company Ltd (CPGCL) for submitting deceptive regulatory filings that inflated electricity tariffs. The fine is linked to CPGCL’s Guddu Thermal Power Station, which charged over Rs1.24 billion in tariffs for a gas booster that was procured at no cost from Engro Corp. NEPRA also issued show-cause notices to two other state-owned entities, the Central Power Purchasing Agency (CPPA) and the National Transmission and Despatch Company (NTDC), for…

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