You are here

Category: Shortcode

Senate Panel to Probe IPP Agreements, Capacity Payments, and Terms

Admin
IPPs-dues

ISLAMABAD: The Senate Standing Committee on Power is set to initiate a comprehensive investigation into the agreements of Independent Power Producers (IPPs), scrutinizing their rate of return, capacity payments, and other contractual terms. The chairman of the committee, Mohsin Aziz, emphasized that the current structure of IPP agreements is unsustainable for Pakistan. The investigation coincides with growing opposition from former…

Read More

Government Reverses Tariff Hike for Protected Consumers

Admin
New-IMF

ISLAMABAD: In response to public outcry and potential political backlash, the government has decided to roll back a previously approved 51% increase in electricity rates for protected consumers, meeting a ‘prior action’ required by the International Monetary Fund (IMF). On the prime minister’s instructions, a revised summary exempting protected consumers from the hike will be urgently reviewed by the federal…

Read More

KE Seeks Finance Minister’s Intervention for Release of Stuck Funds

Admin
circular-debt-K-electric-ceo

ISLAMABAD: In a bid to address the issue of delayed payments, K-Electric (KE) has sought the intervention of Finance Minister Muhammad Aurangzeb to expedite the release of long-overdue funds from federal and provincial entities. KE CEO Syed Moonis Abdullah Alvi, along with CFO Muhammad Aamir Ghaziani and Chief Regulatory Affairs Muhammad Imran Qureshi, met with the finance minister to discuss…

Read More

OGDCL Successfully Optimizes Production at Kunnar-11 Well in Hyderabad, Sindh

Admin
ogdcl

ISLAMABAD, July 08, 2024: Oil and Gas Development Company Limited (OGDCL) on Monday announced the successful revitalization of the Kunnar-11 well, located in Hyderabad, Sindh. Utilizing advanced production optimization techniques, the well is now producing 960 barrels of oil per day.The production optimization drive underscores OGDCL’s commitment to enhancing oil production through modern recovery methods. The Kunnar-11 well, part of…

Read More

Azeri Firm Seeks Legislative Safeguards for Investment in Pakistan

Admin
Petroleum-Division

ISLAMABAD: SOCAR (State Oil Company of Azerbaijan Republic) has requested legislative guarantees from Islamabad to protect its investment in Pakistan, according to sources in the Petroleum Division. This request was highlighted during a recent meeting chaired by Minister for Planning, Development, and Special Initiatives Ahsan Iqbal, aimed at refining investment proposals for the upcoming visit of the Azerbaijani President. Prime…

Read More

FPCCI Voices Concern Over Impact of Rising Power TariffsHike in Electricity Costs Unbearable for Public and BusinessesEconomic Strain and Protests Intensify Across Various Sectors

Admin
power-subsidy

KARACHI: Mian Zahid Hussain, Chairman of FPCCI Advisory Board and President of the Pakistan Businessmen and Intellectuals Forum, has expressed deep concern over the recent increase in basic electricity tariffs and fixed charges, labeling them as unbearable for both the public and businesses. Hussain highlighted that the continuous rise in electricity prices is threatening livelihoods and undermining the rights of…

Read More

$5 Billion Investment Announced for Pakistan’s Oil and Gas SectorLocal and International Firms Brief PM Shehbaz on 3-Year Exploration Plan240 Potential Sites to be ExcavatedCommittee Led by Ishaq Dar to Formulate New Policy

Admin
Ishaq-Dar

ISLAMABAD: Local and international firms have pledged a $5 billion investment in Pakistan’s oil and gas exploration and production (E&P) sector over the next three years. This announcement was made during a meeting chaired by Prime Minister Shehbaz Sharif at PM House on Saturday. A delegation from the oil and gas sector informed the Prime Minister that the investment will…

Read More

Interior Minister Orders FIA to Address Overbilling of Lifeline Power UsersSwift Legal Action Demanded Against Responsible Officers and StaffImmediate Redressal for Consumers Using Up to 200 Units

Admin
free-power

LAHORE / RAWALPINDI: Responding to increasing complaints of overbilling from protected electricity consumers, Minister for Interior and Narcotics Control Mohsin Naqvi has ordered immediate legal action against the officers and staff involved in this malpractice. In a press release issued on Sunday, the minister directed all FIA directors to address the injustices faced by electricity consumers using up to 200…

Read More

Gepco and Mepco Under Fire for Circuit Breaker Purchases from Blacklisted Firms Engineers Highlight Misconduct in Gepco and Mepco PurchasesMinistry Demands Reports from Distribution Companies

Admin
power-fleet

LAHORE: The Ministry of Energy has expressed concern over the procurement of 132kV circuit breakers worth millions of rupees by distribution companies (Discos) from blacklisted firms via local suppliers. The ministry has directed all Discos to submit detailed reports on these transactions. This directive follows formal complaints from engineering associations within Gujranwala Electric Power Company (Gepco) and Multan Electric Power…

Read More

Sindh Govt to Showcase Energy Projects at IEEEP Fair to Attract Investment

Admin
Nasir-Shah

KARACHI: Sindh Minister of Energy, Syed Nasir Hussain Shah, announced that the provincial energy department will exhibit its ongoing and upcoming projects at the 13th edition of the Institute of Electrical and Electronics Engineers Pakistan (IEEEP) Fair. The event, set to take place at Karachi Expo Centre in September, aims to draw investment and encourage joint ventures and partnerships for…

Read More