PM Shehbaz confirms IMF role in budget prep

PM-Shehbaz

ISLAMABAD: Prime Minister Shehbaz Sharif confirmed on Tuesday that the federal budget for next year was prepared in collaboration with the Inter­national Monetary Fund (IMF). His remarks came as Finance Minister Muha­mmad Aurangzeb ann­ounced significant ame­ndments to the proposed finance bill for 2024-25.“We had to prepare the budget jointly with the IMF” because of the prevailing circumstances and ground realities, the prime minister said…

Read More

Gas Tariff to Rise for Captive Power Plants from July 1

OGRA

ISLAMABAD: The government has decided against reducing gas prices from July 1, 2024, despite the Oil and Gas Regulatory Authority’s (OGRA) recommendation to lower them by 10% for the next fiscal year. Instead, gas prices for captive power plants (CPPs) will increase by Rs250 per mmBtu to Rs3000 per mmBtu from the current Rs2750 per mmBtu, aligning with International Monetary…

Read More

Calls for Hesco Privatization Amid Outages and Corruption

power-subsidy

KARACHI: Hyderabad business leaders are demanding the outsourcing of the Hyderabad Electric Supply Company (Hesco) due to persistent electricity outages, corruption, and rising tariffs. They cite the company’s inability to provide reliable electricity to commercial and domestic consumers, causing significant disruptions and economic strain. Consumers are facing eight to ten hours of load shedding, frequent faults, and poor infrastructure, leading…

Read More

KMC and K-Electric Partner to Collect Municipal Utility Charges and Taxes: Mayor Wahab

KMC-KElectric

KARACHI – Mayor Karachi Barrister Murtaza Wahab announced on Sunday that a significant agreement has been reached between the Karachi Metropolitan Corporation (KMC) and K-Electric regarding the collection of Municipal Utility Charges and Taxes (MUCT). In accordance with a court decision, a resolution supporting the collection of these charges through K-Electric has been approved by the City Council. Mayor Wahab…

Read More

Rs600 Billion Lost Annually to Electricity Theft: Minister

power-sector

ISLAMABAD: Federal Minister for Energy Sardar Owais Ahmad Laghari has revealed that electricity theft causes an annual loss of Rs600 billion to Pakistan. In an interview with Geo News programme Jirga, hosted by Saleem Safi, the minister disclosed that the country had 6,000 megawatts of surplus power on Saturday, but it was not supplied to avoid an additional Rs2.5 billion…

Read More

Power Cut Causes Flight Chaos at Manchester Airport

Power-Cut

LONDON: Manchester Airport, the third-busiest airport in the United Kingdom, experienced significant disruptions on Sunday due to a major power cut. The outage resulted in the cancellation of over 100 flights, affecting thousands of passengers. A spokesperson for Manchester Airport reported that at least 20% of all outgoing and incoming flights were cancelled and warned of further disruptions. Aviation analytics…

Read More

Kuwait announces power cuts as demand spikes in summer heat

KUWAIT CITY: Kuwait has announced temporary power cuts in some parts of the country during peak consumption hours, saying it is struggling to meet increased demand spurred by extreme summer heat. In a statement, Kuwait’s Ministry of Electricity, Water and Renewable Energy said the scheduled cuts would occur for up to two hours a day, in the first such step…

Read More

Ginlong (Solis) Technologies and TÜV Rheinland Announce Strategic Partnership during Intersolar 2024

01-Project

Ginlong (Solis) Technologies, the world’s third-largest PV inverter manufacturer, has announced a strategic working agreement with TÜV Rheinland (Shanghai) Co., Ltd., the industry-leading research and testing body. This partnership brings together two leaders in technology and innovation, united by their vision for dedicated excellence in testing and certification. Strategic Alliance to Drive Continuous Improvement in Technology The partnership will see…

Read More