Year: 2020

Provinces term NEPRA’s annual report ‘contradictory to ground realities’

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PESHAWAR: The governments of Khyber Pakhtunkhwa, Sindh and Balochistan have termed the annual report of National Electric Power Regulatory Authority (NEPRA) “contradictory to ground realities”, it was learnt on Wednesday. The provinces argued that the authority’s figures regarding supply and demand of electricity are “not based on facts”, and that the duration of load shedding in Sindh and Balochistan is much longer than the facts and figures provided by NEPRA. According to NEPRA’s report, the energy sector is burdened with a circular debt of Rs1,600 billion, mainly due to the issue…

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FBR grants tax concessions on energy supply to manufacturers

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KARACHI: The Federal Board of Revenue (FBR) has allowed concessionary tax rates on supply of electricity and gas to the manufacturers that are on the current active taxpayers list (ATL). In an office order, the FBR said the concessionary tax rate on supply of electricity and gas will be available to 4,084 taxpayers who were availing facility of zero-rating of sales tax. Earlier this month, the Economic Coordination Committee (ECC) of the cabinet approved tax concessions on supply of electricity and gas to industries in order to reduce production cost…

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E&P Companies Plan Injecting 150 MMCFD Additional Gas In System

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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 23rd Dec, 2020 ) :The oil and gas Exploration & Production (E&P) companies have planned to inject around 150 Million Cubic Feet per Day (MMCFD) additional gas in the transmission network in the coming days from their different fields to meet the increased demand of the commodity during current winter. “Additional local gas and increased import of Liquefied Natural Gas (LNG) will help tackle the high demand of the commodity in winter,” a senior official privy to petroleum sector developments told…

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Tarbela 4th Extension Hydropower Project earns WB admiration

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Islamabad – Tarbela 4th Extension Hydropower Project (1410 MW), completed in 2018 by the PML (N) government, has earned the World Bank admiration for the successful implementation and effective operation. According to the World Bank Tarbela 4th completion in less than budget, estimates is very rare worldwide and in the past two years, the benefits from the project are twice its capital cost. This has been acknowledged in the World Bank Implementation Support Mission Aide Memoire, recently shared with the Ministry of Water Resources, Ministry of Energy – Power Division…

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Wapda to raise $500m loans for dams

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ISLAMABAD: The Water and Power Development Authority (Wapda) is set to raise $500 million international commercial loans through Eurobonds to meet foreign financing needs of Diamer-Bhasha and Mohamand dams. The Economic Coordina­tion Committee (ECC) of the cabinet, which meets later this week, is expected to formally approve the launch of the Wapda bonds abroad besides taking a decision on the fate of Liquefied Petroleum Gas (LPG) air-mix plants. This is the first time that Wapda is launching Euro­bonds without a sovereign guarantee of the government owing to positive corporate family…

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