Day: December 22, 2020

ISLAMABAD: Independent Power Producers (IPPs) and the Federal Government have reportedly not signed the much-awaited agreements due to the lack of a “visible” mode of payment, well-informed sources told Business Recorder. The government and IPPs signed a Memoranda of Understanding (MoUs) a couple of months ago with the commitment to convert these understandings into legal agreements. The sources said the government wanted to give tradable instruments to the IPPs but the International Monetary Fund (IMF) has not given its consent leading to uncertainty in the Finance Ministry as to what…

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PESHAWAR: A lawyer moved the Peshawar High Court on Monday against the outages of natural gas in parts of the provincial capital. In the petition, Saifullah Muhib Kakakhel requested the court to declare the gas denial to Khyber Pakhtunkhwa, especially Peshawar, illegal and unconstitutional and order the immediate restoration of uninterrupted gas supply. He said KP produced more natural gas than its requirement and that under Article 158 of the Constitution, its needs should to be met before the gas was supplied to other provinces. The petitioner requested the court…

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is all set to start public consultation on Tuesday (Dec 22) on Competitive Trading Bilateral Contract Market (CTBCM) without taking account of domestic ground realities. An overview of the design and implementation of the CTBCM which was approved last month predominantly focuses on developing a Wholesale Electricity Market (WEM) at a time when there is excess generation capacity and significantly high value committed capacity additions and structural challenges in the Transmission and Distribution (T&D) segment. The stakeholders including the Planning Commission, KE,…

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China is committed to a stable global energy market and is further opening its energy sector to the world, said a white paper released Monday.The country has greatly eased market access for foreign investment, and has built a market-based international business environment that respects the rule of law to facilitate free trade and investment, according to the white paper titled “Energy in China’s New Era” released by the State Council Information Office. The document said the country has adopted pre-establishment national treatment plus a negative list, reducing restrictions on foreign…

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