Month: July 2020

Dealing with the KE muddle

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The writer is a former member of the Energy Planning Commission and author of ‘Pakistan’s Energy Issues: Success and Challenges’. Karachi is passing through one of the worst power crises in its history. People are now demanding that the KE contract either be revoked or amended so as to correct the situation. In the minds of many people, KE has a long history of profit maximization at the expense of consumers. Nepra had faced difficulty with it in making it utilize its furnace oil power plants which it has used…

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NEPRA approves net relief of Rs4.5bn for consumers

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ISLAMABAD: The National Electric Power Regulatory Autho­rity (Nepra) on Thursday concluded eight months of fuel price adjustments for distribution companies of Wapda with a net relief of about Rs4.46 billion to consumers owing to relatively lower rates in international energy markets. The decision was taken at a public hearing presided over by Nepra Chairman Tauseef H Farooqi on the request of Central Power Purchasing Agency (CPPA) of the Power Division for adjustment of eight months (November 2019 to June 2020) of fuel price that had been put on hold by…

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Nepra threatens to cancel KE’s licence for ‘breach’ of contract

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has accused K-Electric (KE) of violating its contract and ignoring its responsibilities that have led to excessive power cuts this summer, and asked why its licence should not be revoked. In a show-cause notice, the regulator has asked the KE to respond within 15 days as to why action should not be taken against it under Sections 27B and 28 of the Nepra Act, rules, regulations, distribution code, tariff determination and terms and conditions of its licence for imposition of penalty for…

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Govt to propose eight transport infrastructure projects for CPEC

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ISLAMABAD: The federal government is set to propose eight new projects relating to transport infrastructure for inclusion in the China Pakistan Economic Corridor (CPEC) framework 2020-21. The projects would subsequently be presented for approval in the 10th meeting of Joint Coordination Committee on CPEC to be held this year. The eight projects include Greater Peshawar Mass Transit Project, 82-kilometre (km) Swat Expressway Phase-II, Karachi Port Development Project, 105km Thar-Chor Railway Line, 22km Hub-Karachi Railway Line, Keti Bandar Port Development Project, 182km Karachi-Quetta-Chaman Motorway and Optical Fibre Phase II. According to official…

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One of the oldest businesses on the internet just got sold for $9 billion

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Norway’s Adevinta is buying eBay’s (EBAY) classified ads business for $9.2 billion to create the world’s largest online classifieds company.In the age of Google (GOOGL)and Facebook (FB), classifieds aren’t exactly a mammoth business: They made up only about 3% of the $125 billion internet advertising market in 2019, according to the Interactive Advertising Bureau, the global industry body for digital advertising.But there was a day when Craigslist and the company that became eBay Classifieds were among the biggest advertising platforms on the newfangled World Wide Web.EBay Classifieds Group got its…

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