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KCCI demands release of pending Rs33 billion against incremental consumption

Admin
KCCI-Import

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while referring to his discussions with industrial town associations in connection with delays in release of funds against incremental consumption of electricity during COVID-19 pandemic, urged the government to immediately release the remaining amount of Rs33 billion to Karachi industries so that their grievances could be minimized to…

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Pakistan’s Refining Sector Prepares for Major Furnace Oil Exports Amid Dwindling Local Demand

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Refinery-Limited

KARACHI: Pakistan’s refining industry is gearing up for significant furnace oil exports in the coming weeks, with shipments expected to exceed 100,000 tonnes. The shift towards exports comes as domestic demand for furnace oil has nearly vanished since the start of the current fiscal year. Pakistan Arab Refinery Limited (PARCO) has already issued a tender to export 50,000 tonnes of…

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Fire Breaks Out at RLNG Power Plant Near Trimmu Barrage, Jhang

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Jhang-RLNG

ISLAMABAD: In the early hours of August 3, a gas turbine at the 1,263 MW RLNG-based power plant near Trimmu Barrage, Jhang, caught fire, causing significant damage. The power plant, which boasts an efficiency of 61.16 percent, was a key project initiated by Prime Minister Shehbaz Sharif during his tenure as Punjab Chief Minister. The project, fully owned by the…

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Govt Forms Committee to Resolve Dispute Over OGDCL Share Transfer

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ogdcl

ISLAMABAD: The federal government has formed a committee to address the dispute regarding the transfer of 322,460,900 shares of Oil and Gas Development Company Limited (OGDCL). The Ministry of Planning, Development, and Special Initiatives opposes the proposal to transfer these shares to the Ministry of Energy (Petroleum Division), recommending instead that they be transferred to the Pakistan Sovereign Wealth Fund…

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NEPRA Dismisses CPPA-G’s Tariff Revision Petition for Star Hydro Power

Admin
Dam-Hydro

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has rejected the Central Power Purchasing Agency Guarantee Limited’s (CPPA-G) petition to modify the tariff for Star Hydro Power Company. The petition, which sought to revise the tariff by excluding Principal Debt Damages awarded by the London Court of International Arbitration (LCIA), was deemed inadmissible due to insufficient legal grounds. Star Hydro…

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Shehbaz Govt May Follow Imran Khan’s Lead on IPPs, but With Strategic Tweaks

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imran-shahbaz

ISLAMABAD: The Shehbaz Sharif-led government appears poised to adopt a similar approach to the Imran Khan administration in its dealings with Independent Power Producers (IPPs). This strategy includes reducing the Rate on Equity for public sector power plants, shutting down five Gencos to achieve a cost relief of up to Rs 4 per unit, and renegotiating existing contracts from a…

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Call for CPEC to Become a Model Green Belt Initiative

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CPEC-new

LAHORE: The President of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), Moazzam Ghurki, has called for transforming the China-Pakistan Economic Corridor (CPEC) into a model green Belt and Road Initiative (BRI) to safeguard the natural environment in the region. Speaking at a think tank session held at the PCJCCI on Thursday, Ghurki highlighted that such a transformation would…

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KCCI worried over delays in restoration of internet speed, social media apps

Admin
social-media

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while expressing deep concerns over slow internet connectivity and the subsequent faults as well as limited access to social media applications, stated that although it was assured that the internet connectivity would normalize upon installation of safety firewall but the issue persists which has resulted in terribly affecting…

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SNGPL, LCCI, and NESPAK Celebrate Pakistan’s 77th Independence Day with Patriotic Ceremonies

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SSGC-SNGPL

LAHORE: Sui Northern Gas Pipelines Limited (SNGPL), the Lahore Chamber of Commerce & Industry (LCCI), and NESPAK commemorated Pakistan’s 77th Independence Day with patriotic fervor through various ceremonies held in Lahore. At SNGPL Head Office, a flag hoisting ceremony was led by Managing Director (MD) Amer Tufail, who urged employees to work unitedly for the betterment of the country and…

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Power Sector Urges Implementation of 2020 IPP Report’s Recommendations

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Power-sector

LAHORE: Experts in Pakistan’s power sector are calling for urgent transparency and accountability by enforcing the recommendations of the 2020 Report on Independent Power Producers (IPPs). This report, released in March 2020, exposed significant irregularities, including excess payments of over Rs 100 billion to IPPs. Despite recommendations for a forensic audit and recovery of these excess payments, no substantial actions…

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