KARACHI: Despite a significant reduction in indigenous gas supplies, the Sui Southern Gas Company (SSGC) claims there is no gas load-shedding in its franchise areas, particularly for domestic consumers, according to a press release issued on Sunday. The company highlighted a 40% decline in gas supplies since the 2017-18 fiscal year, with a cumulative depletion of 465 mmcfd over the…
Read More
ISLAMABAD: The Ministry of Power reaffirmed on Sunday that the circular debt targets agreed upon with the International Monetary Fund (IMF) are well within limits, with the December 2024 goal firmly on track. In a statement, the Power Division clarified that its performance aligns with quarterly targets for circular debt management. “The agreed target with the IMF ensures circular debt…
Read More
ISLAMABAD: In a significant legal triumph, Frontier Holdings Limited (FHL) and Spud Energy Pty Limited (SEPL) have won an arbitration case against Petroleum Exploration (Private) Limited (PEL) at the International Chamber of Commerce (ICC). The dispute revolved around PEL’s attempt to forfeit FHL’s 27.5% working interests in the Badin IV South and Badin IV North Blocks (collectively, the “Badin Blocks”).…
Read More
Pakistan has decided to shelve a proposed $300 million floating solar power project, which was intended to generate 300 megawatts (MW) of electricity. The Power Division opted not to include the initiative in the 2024-2034 Indicative Generation Capacity Expansion Plan (IGCEP), citing the absence of an assured power purchaser. On December 20, the Power Division formally conveyed its decision to…
Read More
A Danish-Norwegian research team has shed light on critical factors influencing fire propagation in building-integrated photovoltaic (BIPV) facades, revealing that the gap distance between panels and walls, as well as combustible materials in wall cavities, play significant roles. The study, conducted by researchers from Norway’s RISE Fire Research AS, the Fire Research and Innovation Centre (FRIC), and Denmark’s Institute of…
Read More
For the first time in history, annual global demand for lithium-ion batteries has exceeded 1 terawatt-hour (TWh), driven by record-breaking electric vehicle (EV) sales and robust deployments of battery energy storage systems (BESS) in November 2024. This milestone marks a significant leap from 2023, when the threshold was narrowly missed, according to Rho Motion, a London-based market research firm. Lithium-ion…
Read More
ISLAMABAD: The Ministry of Power has issued an urgent appeal for the release of Rs400 billion in subsidies by December 2024 to meet the International Monetary Fund’s (IMF) conditions under the $7 billion Extended Fund Facility (EFF). Failure to comply risks escalating the circular debt beyond the agreed threshold, jeopardizing financial stability and IMF commitments. So far, only Rs82 billion…
Read More
ISLAMABAD: K-Electric (KE) CEO Moonis Alvi expressed willingness to revise the company’s proposed multi-year tariff during ongoing discussions with the National Electric Power Regulatory Authority (Nepra). He emphasized the need for a sustainable tariff structure to support investments in Pakistan’s power sector while addressing consumer concerns. Speaking on Geo Television’s “Aaj Shahzeb Khanzada Kay Sath,” Alvi stated, “We are open…
Read More
ISLAMABAD: The government has suspended the Chief Executive Officers (CEOs) of three Generation Companies (Gencos) following Prime Minister Shehbaz Sharif’s dissatisfaction with delays in disposing of dead assets. The suspended CEOs are: Abdul Vakeel, CEO of JPCL (Genco-I)Junaid Ahmed Baig, CEO of Genco-IISabeeh Uz Zaman Faruqi, CEO of Genco-IIIDuring a high-level meeting on the Indicative Generation Capacity Expansion Plan (IGCEP),…
Read More
ISLAMABAD: Pakistan and Iran are gearing up for negotiations to extend their electricity sale agreement, set to expire on December 31, 2024. Sources indicate that both sides aim to finalize the renewal to ensure continued power supply to Pakistan’s Balochistan province. Pakistan currently imports 100 MW of electricity from Iran, primarily for bordering areas of Balochistan, with payments managed through…
Read More
