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,…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
Women in Afghanistan will be allowed to study in universities as the country seeks to rebuild after decades of war but gender-segregation and Islamic dress code will be mandatory, the Taliban’s new Higher Education minister said on Sunday. The minister, Abdul Baqi Haqqani, said the new Taliban government, named last week, would “start building the country on what exists today”…
Read More
The country is on track to face another gas crisis from 13-16 September, 2021 due to re-deployment of Floating Storage and Regasification Unit (FSRU) Exquisite after dry dock. A few day ago, the Board of Directors (BoD) of Sui Southern Gas Company Limited (SSGCL) rejected the offer of Engro of a bigger FSRU and asked the company to call its…
Read More
The National Electric Power Regulatory Authority (Nepra) on Friday increased power tariff by Rs1.3771 per kilowatt-hour (kWh) on account of fuel cost adjustment (FCA) for July 2021. The Central Power Purchasing Agency-Guarantee (CPPA-G) had requested a positive FCA of Rs1.4685/kWh, having impact of Rs22.3 billion. The FCA for July 2021 will be charged in the billing month of September 2021,…
Read More
A meeting of the Cabinet Committee on Energy (CCoE) has been called on Monday to consider approval of the oil refining policy 2021, cheaper electricity rates to domestic and commercial consumers to encourage incremental consumption for space heating in winter and retention of some old power plants ordered by the federal cabinet. To be presided over by Planning Minister Asad…
Read More
Following the subversive activity by anti-CPEC forces on July 14, Wapda has provided the signature of Pakistan’s regular Army at the Dasu Hydropower project’s site and upgraded its security apparatus up to the satisfaction of Chinese government, but even after almost two months, China’s Gezhouba Group Corporation (CGGC) has not started construction work, which is questionable. Gezhouba also suspended its…
Read More
