The Power Division has reportedly held National Electric Regulatory Authority (Nepra) responsible for addition of Rs 500 billion to the circular debt flow in FY 2021-22 totaling Rs 850 billion due to delay in notifications for rebasing of Rs 7.91 per unit and Quarterly Tariff Adjustment (QTA) determination. Background interaction with officials dealing with the financial issues of power sector…
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Four $2.3bn power projects declared ‘problematic’
The Ministry of Economic Affairs has reportedly declared four power sector projects worth $2.3 billion problematic and directed the Power Division and its attached organizations to expedite implementation of the projects. This was the crux of the third follow-up meeting of National Coordination Committee (NCC) of Federal Energy Sector (EES) held in the Ministry of Economic Affairs, which reviewed progress…
Read MoreDelay in fault diagnosis keeps 969MW power plant shut
The 969MW Neelum-Jhelum Hydropower Project is unlikely to become operational soon as the technical fault that forced its closure a few days ago is yet to be ascertained by the local authorities. That is why Prime Minister Shehbaz Sharif on Wednesday held a meeting on the issue and ordered to have it inspected by international institutions to find out the…
Read MoreFederal Minister for Planning and Development Ahsan Iqbal
Federal Minister for Planning and Development Ahsan Iqbal on Thursday stressed the need for honouring the pledges and commitments to investing $600 billion in clean energy. “We welcome the Global Roadmap for Accelerated Sustainable Development Goals (SDGs) Action, developed in the 2021 highlevel dialogue and over 200 Energy Compacts, including pledges of $600 billion… yet actions have to match the…
Read MoreIMF Worries Over CPEC Energy Deals Still Loom Large
Pakistan has assured the International Monetary Fund (IMF) that it would try to receive concessions from the China-Pakistan Economic Corridor (CPEC) power plants in the shape of either reduction in the profit rates on investment or rescheduling the loan repayments. The issue of reopening of the purchase agreements of the power generation plants set up under the multi-billion dollar CPEC is unlikely…
Read MoreSolar Electric Charging Stations Will Encourage People to Buy EVs: Report
Range anxiety is among the main reasons why people do not buy electric vehicles (EVs). However, a study conducted by researchers from Oregon State University claims that solar-powered EV charging stations could address that issue. Researchers, Casey L. Steadman, and Chad W. Higgins found out that solar power-based EV charging infrastructure near rural highways can encourage people to shift to…
Read MoreCoal import for power generation: Pakistan’s delegation to visit Afghanistan on 17th
A Pakistan delegation led by Secretary Commerce, Sualeh Ahmad Faruqui will visit Afghanistan on July 17-18, 2022 for talks on import of coal for power generation, well informed sources told Business Recorder. The delegation visit is scheduled amid threats by Chinese company generating electricity on imported coal that they will revert to South African coal if NEPRA fails to resolve its…
Read MorePakistan International Oil Limited Established in Abu Dhabi
A consortium of Pakistan’s companies comprising Oil and Gas Development Company Limited (OGDCL), Mari Petroleum Company Limited (MPCL), Government Holdings (Private) Limited (GHPL), and Pakistan Petroleum Limited (PPL) (Operator) has established Pakistan International Oil Limited (PIOL) in Abu Dhabi as an independent joint-venture company. The consortium, which has been awarded Offshore Block 5 in Abu Dhabi’s second competitive exploration bid…
Read MoreAre Energy Markets Responsible For Currency Craziness?
As mentioned in the last post, the huge break in energy prices between the US and the rest of the world could explain the extreme dollar strength we have seen this year. Part of the problem I have with that is that the corollary of that trade is energy exporters should see a boost from the improved terms of trade.…
Read MoreWho Really Controls The World’s Oil Reserves?
Big Oil majors in the United States have found themselves the target of much pressure to boost production lately, as prices go wild amid a tight—and tightening—market. At the same time, the U.S. government, as well as the EU, have been looking all over the world for more supply. Wood Mackenzie just had some bad news for them. According to new research from…
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