M/s General Electric (GE) has demanded $ 100 million for upgradation of RLNG-fired power plants in Punjab, which the government is endeavoring to privatize for long, well-informed sources told Business Recorder. Sharing the details, sources said, a meeting was recently held at SNGPL head office, wherein implementation of CCoE/ ECC decision for waiver of minimum 66 per cent take or pay…
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Gas tariff surges by a whopping 235%
The government on Thursday approved an increase in natural gas prices in the range of 43% to 235% with effect from July 1 in a bid to recover Rs660 billion from the majority of domestic and all other categories of consumers. Addressing a news conference, Minister of State for Petroleum Dr Musadiq Malik said, “Nearly half of the domestic consumers…
Read MoreIndus Motors Partners with The ChildLife Foundation for a Child-Safe Pakistan
Indus Motor Company (IMC) joined hands with The ChildLife Foundation, pledging its support with a Rs 6.50 million donation, towards establishing the ChildLife Resuscitation Room – equipped with cutting-edge life-saving medical equipment – at the Children’s ER (Emergency Room) at the Pakistan Institute of Medical Sciences (PIMS), Islamabad. In addition, this Resuscitation Room will also provide Telemedicine support through its…
Read MorePakistan to announce national solar energy policy on August 1
In a bid to boost the renewable energy sector, the government will announce a national solar energy policy on August 1. The implementation of the policy will be subject to the approval of the Council of Common Interests (CCI). The development came during a meeting of the Energy Task Force, which was held on Thursday in Islamabad, under the chairmanship…
Read MoreEver increasing LPG prices may lead country to ecological collapse
LPG plant, which has not been functioning for several years, to meet the domestic gas demand. According to the presentation, rampant cutting of trees was observed not only in Balochistan, but also in Murree, Khyber Pakhtunkhwa, Gilgit-Baltistan and even in Islamabad. It informed the authorities that the LPG policy by the government has linked the price of LPG with the…
Read More969MW project shut after damage detected
Amid countrywide electricity shortages, the 969-megawatt Neelum-Jhelum hydropower project, completed at an estimated approved cost of about Rs508bn, has been closed due to major cracks in its tailrace tunnel. “Neelum-Jhelum is unfortunately offline. Details of its suspension or fault have not been concluded yet,” Power Minister Khurram Dastgir Khan confirmed at a presser, adding that thorough investigations were currently under…
Read MoreOil, Gas Output Drops
Oil production declined three per cent year-on-year in 2021-22 to 73,420 barrels per day (bpd). Lower production from Nashpa, Adhi and Makori East oil fields besides no addition of any sizable oil field led to the annual decline in oil production, according to Topline Securities analyst Mehroz Khan. Similarly, gas production went down 2pc year-on-year to 3,388 million cubic feet…
Read MoreCPHGC seeks funds for procurement of Afghan coal
The China Power Hub Generation Company (Pvt.) Ltd (CPHGC) has sought the required funds for import of coal from Afghanistan as a deal is expected to be signed on Wednesday (today) and delivery will start from July 10, 2022. This was conveyed by Chief Executive Officer (CEO) CPHGC to CEO, CPPA-G on the proposed plan and progress to import coal…
Read MoreSNGPL’s profit shrinks 5% on high financing cost
The net profit of Sui Northern Gas Pipelines Limited (SNGPL) shrank about 5% to Rs3.03 billion in the quarter ended September 30, 2021 mainly due to a significant increase in the cost of financing and administrative expenses. The company registered a profit of Rs3.18 billion in the same quarter (Jul-Sept) of previous year. Earnings per share of SNGPL dropped to…
Read MoreBusinessmen slam NEPRA for massive tariff hike
Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir has slammed Nepra for approving an unprecedented tariff hike of Rs7.90 per unit under fuel cost adjustment for May 2022. He termed it a very harsh decision as it would put an extra burden of Rs136 billion on the electricity consumers in their bills for July 2022. Speaking at…
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