Year: 2019

The Korea Hydro and Nuclear Power, a subsidiary of Korea Electric Power Corporation (KEPCO), will invest over a billion dollars in the power sector of Pakistan’s Khyber Pakhtunkhwa. The development comes during a meeting between the president of Korea Hydro and Nuclear Power and Khyber Pakhtunkhwa Finance Minister Taimur Jhagra and Provincial Minister of KPK for Law, Sultan Khan. As per detail, the Khyber Pakhtunkhwa government and the Korean company have partnered to invest in 496 MW power project in Kohistan. The KP Government will be a 26 percent shareholder in…

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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has asked the government to increase prices for gas consumers by up to 221 per cent with effect from January 1, 2020 to generate about Rs40 billion in additional funds required by the two gas utilities. In two separate judgments forwarded to the government, the regulator determined about 13pc (Rs82 per unit) increase in average prescribed price to Rs707 per unit for Sui Northern Gas Pipelines Ltd (SNGPL). This would generate more than Rs30bn addition revenue to the company over the next…

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Investments in Pakistan’s power-generation capacity under CPEC, has the potential to diversify the country’s energy mix. ADB stressed on accelerating energy sector reforms to reduce and rationalize subsidies for oil-based generation. The Asian Development Bank (ADB) has urged Pakistan to reduce subsidies for oil-based power generation, to tackle its growing imports that constrained the country’s Balance of Payments (BOP). “The composition of imports contributes to the BOP constraint. Around 40 percent of electricity production in Pakistan is oil-based, and 25pc is gas-based. Direct and indirect subsidies for the energy sector…

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Madrid, 16 December 2019 – The leading global renewable energy industry associations have sent a clear signal to the UNFCCC negotiators about the crucial role of renewable energy technologies at the recently concluded COP25 climate conference in Madrid, Spain. Convening at an official side event, speakers from REN Alliance* informed the gathered delegates about the latest technological developments of renewable energies and the immense potential offered by these technologies to meet the Paris Agreement goals. Laura Williamson from REN21 was the keynote speaker at the side event and the main message was…

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ISLAMABAD: The government is likely to further increase gas prices in a bid to eliminate the circular debt of Rs181 billion in the gas sector. The Petroleum Division has informed Prime Minister Imran Khan that the hike in gas prices is inevitable because of the high circular debt of Rs181 billion in the wake of a wide gap between average prescribed gas prices and weighted average sale prices. In this regard, the government has decided to launch an effective campaign to promote awareness among the general public of the rationale of…

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