Day: April 15, 2020

KARACHI: Pakistan’s leading pharmaceutical company, Getz Pharma donated 15000 testing kits as well as 1.9 million tablets of Hydroxychloroquine to the Sindh government to help in its fight against the Coronavirus pandemic. Hydroxychloroquine, or HCQ 200 is an anti-malarial drug shown to be effective against the Coronavirus. Getz Pharma is among a handful of companies that manufactures the drug. The company also donated 1500 units of Personal Protective Equipment (PPE) for doctors and healthcare workers, which have been dispatched to more than 50 hospitals, isolation wards, quarantine centers and clinics…

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SANGSAD BHABAN, April 12, 2018 (BSS) – The system loss in electricity distribution and transmission has significantly brought down to 12.19 percent during the last fiscal year. “We have successfully brought down distribution loss of the country’s whole electricity to 9.98 percent and transmission loss to 2.67 percent in 2016-17,” State Minister for Power, Energy and Mineral Resources Nasrul Hamid said, while replying to a starred question from opposition bench member Selim Uddin of Sylhet-5 in the Jatiya Sangsad today. He said the electricity distribution loss was 14.33 percent and…

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ISLAMABAD: Pakistan has requested China for ease in payment obligations of over $30 billion worth of about 12,000-megawatt power projects under the China-Pakistan Economic Corridor (CPEC) to minimise its financial and economic difficulties. This is part of the ongoing government efforts to secure discounts and savings on power purchases from independent power producers (IPPs) as circular debt liabilities cross Rs2 trillion. A cabinet member told Dawn that Pakistan had formally taken up its difficulties with China for relief in power purchase prices at the highest level during the recent visit…

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There is no doubt that the current economic situation compels the power purchaser (the Power Ministry) to renegotiate the terms of Power Purchase Agreements (PPAs) of the IPPs (Independent Power Producers). It is necessary for all involved in this to engage in the spirit of accommodation rather than assert a cold-blooded prerogative based on written contracts that are backed by sovereign guarantees. The basic equation before is the proportion of capacity charges in the total electricity tariff. As we know the electricity payments made to the power producers have two…

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ISLAMABAD: The nine-member committee headed by ex-chairman of SECP Mohammad Ali which was earlier constituted by Prime Minister Imran Khan on August 7, 2019 has unfolded startling disclosures in its report recently submitted with the top man of the country that under the 1994 power policy, 16 out of 17 IPPs, which invested a combined capital of Rs50.80 billion, have so far earned profit in excess of Rs415 billion, having taken out dividends in excess of Rs310 billion. According to the report, whose copy is available with The News, most…

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