ISLAMABAD: Pakistan’s state-run Power Distribution Companies (Discos) have achieved notable progress in the first quarter (July-September) of fiscal year 2024-25, slashing losses by Rs69 billion and boosting bill recovery rates to 91%, up from 84% in the same period last year. The Power Division reported that the growth of circular debt slowed significantly, rising by just Rs11 billion between July…
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ISLAMABAD: The government is considering reducing the buyback tariff for electricity generated by rooftop solar panels to Rs7.5-11 per unit, down from the current rate of over Rs21 per unit. This adjustment, prompted by a significant decline in solar panel prices, aims to align with the evolving energy landscape. Under the proposed changes, six units of rooftop solar electricity would…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has forecasted a Rs1.6 per unit reduction in the national average power tariff for the upcoming months due to quarterly adjustments. This decrease comes as the Rs1.74 per unit quarterly adjustment (QTA) from the March-July period expires. During a public hearing led by Nepra Chairman Waseem Mukhtar, officials clarified that Discos (power…
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ISLAMABAD: The government has launched a New Energy Vehicle (NEV) policy aiming to transition 30% of all new vehicles in Pakistan to electric by 2030. The policy, announced by Industries and Production Minister Rana Tanveer Hussain, includes subsidies, tax breaks, and financing incentives to promote electric vehicles (EVs) and hydrogen-powered transport. Key measures include subsidies of Rs50,000 for electric motorcycles…
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ISLAMABAD: Pakistan’s petroleum sector witnessed remarkable growth during the first four months of FY25, driven by a 30.98% surge in crude oil imports, resulting in increased production by local refineries and a significant rise in exports. According to preliminary estimates, this growth in production and exports is expected to positively contribute to the country’s economic progress in the ongoing fiscal…
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He met Khawaja Muhammad Asif, Chief Guest & Federal Minister for Defence and Mr. Jam Kamal Khan, Guest of Honor & Federal Minister of Commerce; Mr. Kamran Tessori, Governor Sindh; Dr. Farooq Sattar and Mrs. Nasreen Jalil, on the sidelines of the internationally and economically-significant exhibition. Lt. Gen. Muhammad Chiragh Haider, HI (M), Secretary (DP) and Brig Iftikhar Opel, SI…
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ISLAMABAD: Pakistan plans to significantly lower electricity tariffs for electric vehicle (EV) charging stations as part of its strategy to decarbonize the transport sector and stimulate EV demand, according to Power Minister Awais Leghari. The government is formulating a pricing structure to make EV charging more affordable for small cars, two-wheelers, and three-wheelers. This initiative aligns with the broader goal…
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ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has attributed the accumulation of Rs. 148 billion in outstanding receivables to delays in payments by the Central Power Purchasing Agency–Guaranteed (CPPA-G). The amount includes dues from Independent Power Producers (IPPs), government-owned plants, and WAPDA, highlighting a severe financial strain on SNGPL’s operations. According to SNGPL, receivables from Guddu Power Plant alone amount…
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ISLAMABAD: The Petroleum Division has prepared a framework for the sale of up to 100 MMCFD gas by Exploration and Production (E&P) companies to third parties through open auctions. The summary, finalized following an inter-ministerial committee decision led by Deputy Prime Minister Ishaq Dar, will be submitted to the Executive Committee of the National Economic Council (ECNEC) for approval. Initially…
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ISLAMABAD: Schlumberger (M/s SLB) has been awarded a key contract by the Oil and Gas Development Company Limited (OGDCL) following a competitive international tender for an “integrated study of tight gas prospectivity evaluation.” The rigorous selection process involved 11 global bidders, with Schlumberger chosen for its strong technical expertise and cost-effective proposal. The study will focus on identifying Pakistan’s most…
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