The coldest winter in China since 1966 has sent coal and gas prices soaring as power demand surges. Gas prices hit a three-year high, Bloomberg reported, while coal prices ticked up by 4 percent this week. Reuters noted that despite record liquefied natural gas imports, the cold spell caused a supply crunch. China went on an LNG-buying spree last year…
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ISLAMABAD: In a new development, as many as six important IPPs have asked the MoU Implementation Committee, headed by Federal Minister for Finance and Revenue Dr Hafeez Shaikh, to constitute an experts panel headed by a Supreme Court judge to look into the charges if they have made excess profit of Rs53 billion. They urged the government not to send…
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ISLAMABAD: The ruling Pakistan Tehreek-e-Insaf appears to be giving an NRO to the Independent Power Producers (IPPs) as the Centre seems to be ignoring the excess payments made to them, industry players and analysts said. According to reports, changes are being made in the Memorandum of Understanding (MoU) reportedly to favour the IPPs. The move comes at a time when…
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The National Electric Power Regulatory Authority (Nepra) on Monday approved a power tariff hike of Rs1.06 per unit on account of fuel charges adjustment (FCA) for October and November 2020. In a statement, Nepra said that the Central Power Purchasing Agency-Guarantee (CPPA-G) had requested a positive FCA of Rs0.5713 per unit to burden consumers with a total cost of Rs5.6…
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The National Electric Power Regulatory Authority (Nepra) has taken serious notice of the recent power blackout that plunged almost the entire country into darkness. The power regulator has decided to set up a high-powered committee of its top professionals. The committee will also comprise renowned protection engineers from the private sector, which will investigate the reasons and facts that led…
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Heads of seven industrial estates in Karachi held the government responsible for the ongoing gas crisis nationwide, saying it did not import sufficient fuel to bridge shortfall despite several alerts and availability of capacity for additional imports. Speaking at a press conference, Sui Southern Gas Company (SSGC) Deputy Managing Director Saeed Ahmed Larik, however, blamed non-export industries for the worsening…
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Technology transfer with easy and duty-free access to American markets is a must in a bid to achieve a quantum jump in bilateral trade and in this connection serious efforts are being made by both sides, said US Consul General in Lahore Catherine Rodriguez. Speaking at a Zoom meeting with Faisalabad Chamber of Commerce and Industry (FCCI) President Hafiz Ihtasham…
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