Day: September 25, 2020

K-Electric has said that continuous disruption in the power supply is out of its hands as the Sui Southern Gas Company (SSGC) was not providing the agreed quantity of gas. The statement was issued amid prolonged power outages affecting industrial, commercial and residential consumers equally. The K-Electric, however, added that the port city, which is solely dependent on the utility provider for electricity, would be in a much better situation in 2021 with the arrival of new LNG plants. A statement issued by the spokesperson of KE said that the…

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WASHINGTON, September 24, 2020 – Today, the World Bank’s Board of Executive Directors approved $450 million in financing to support Pakistan’s transition to renewable energy resources that reduce its reliance on fossil fuel imports and lower costs of electricity production. The Khyber Pakhtunkhwa Hydropower and Renewable Energy Development Project will help shift the national energy mix to domestic clean resources by investing in renewable energy generation, including hydropower and solar, in Khyber Pakhtunkhwa province. It will also help strengthen energy sector institutions to better manage a growing portfolio of renewable…

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ISLAMABAD: The government is claiming to have saved about Rs856 billion over a period of 10 years on account of renegotiation with independent power producers (IPPs) and change in terms of contracts and closure of public sector power projects. This was the crux of a meeting of the Cabinet Committee on Energy (CCoE) presided over by Minister for Planning and Development Asad Umar. The CCOE constituted a committee led by Minister for Energy Omar Ayub Khan to effectuate revisions in various terms and conditions into formal agreements. The CCoE “reviewed…

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ISLAMABAD: Prime Minister Imran Khan was informed on Thursday that some leading businessmen of the country have formed a consortium to make a huge investment in two mega development projects — Urban Development and Bundle Island Project (UDBSP) in Karachi and Ravi River Front Urban Development Project (RRFUDP). In a separate meeting of the National Coordination Committee (NCC) on Housing, Construction and Development, the prime minister was apprised that the Capital Development Authority (CDA) has fetched Rs55 billion in two recent auctions of commercial and residential plots. In another meeting…

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ISLAMABAD: The government on Thursday set up an implementation committee to convert legally non-binding understandings with 47 independent power producers into legal agreements to secure an estimated amount of Rs836 billion in savings over the next 28 years. After a formal revision in power purchase agreements, the federal government would save an average of Rs30 billion a year during this period. The decision to form the implementation committee was taken by the Cabinet Committee on Energy (CCoE), chaired by Federal Minister for Planning and Development Asad Umar. The Power Division…

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