Category: Recent Post

The Water and Power Development Authority (Wapda) has reportedly allowed Power China to participate in its tenders despite terminating the contract of 128 MW Keyal Khwar Hydro Power Project (KKHPP). Official documents and informed sources revealed to Business Recorder that Wapda issued the civil works, ie, hydro steel works of 128 MW KKHPP to M/s Sinohydro – Hajvairy JV on August 28, 2014 after competitive bidding under Public Procurement Regulatory Authority (PPRA) rules. Federal Investigation Agency (FIA) is investigating the matter. The Auditor General of Pakistan, in its recent audit report, raised…

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We expect OMCs to benefit from (i) the recent improvement in auto fuel marketing margins amid range-bound crude oil prices; (ii) gradual recovery in benchmark refining margins driven by anticipated recovery in global demand; and (iii) a rebound in domestic petroleum consumption post the second Covid wave. We find the valuations inexpensive for HPCL and IOCL at around 5X EV/Ebitda and BPCL’s at 6.2X EV/Ebitda reflecting a modest premium for privatisation. Our calculations suggest that auto fuel marketing margins improved in the recent months amid a moderation in crude prices…

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Spurred by falling solar photovoltaic (PV) prices and escalating grid tariffs, solar installations, especially those on rooftops, have seen rapid growth in Pakistan. These solar investments, both residential and commercial, are also supported by a decent net metering regime that lets consumers sell excess solar generation during daytime back to the grid. However, despite having a renewables refinance facility from the State Bank of Pakistan (SBP), the local banks have failed to tap into what is, perhaps, one of the fastest-growing segments in the country. Per industry estimates, around 3,500MW…

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One of the country’s intelligence agencies has raised questions over the Pakistan Oil Refining Policy 2021 being taken up by the Cabinet Committee on Energy for approval on Monday (today). The committee, headed by Planning and Development Minister Asad Umar, will also consider cheaper electricity rates for domestic and commercial consumers for winter space heating, retention of some old power plants ordered by the federal cabinet for closure, policy guidelines for out-of-merit use of LNG-based power plants and revival of Asian Development Bank-funded smart metering for power companies. Informed sources…

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Nuclear scientist Dr Abdul Qadeer Khan, who is currently under treatment in a hospital, on Monday complained that neither Prime Minister Imran Khan nor any of his cabinet members inquired after his health. “I am quite disappointed that neither the prime minister nor any of his cabinet members has inquired after my health,” said Dr Khan when contacted by Dawn. Dr Khan, who is also considered as Mohsin-i-Pakistan (saviour of Pakistan), said when the entire nation was offering prayers for his early recovery from the ailment not a single government functionary…

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