Month: February 2021

MEI report: Circular debt to hike up to Rs4,936 bn by 2025

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ISLAMABAD: The circular debt is set to alarmingly increase up to Rs4,936 billion by financial year 2025 with an increase of 2.04 times from the current level of Rs2,400 billion, highlights the report on Pakistan’s Power Sector Circular Debt Causes, Consequences, and Remedies prepared by Pakistan’s leading economist Sakib Sherani of Macro Economic Insights (MEI). Sherani served as Member, Prime Minister’s Economic Advisory Council, and Principal Economic Adviser, Ministry of Finance, Government of Pakistan. The stock of circular debt is still projected by MEI to increase to over Rs3,000 billion…

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Power tariff raised by Rs1.95/unit

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Friday approved an across-the-board Rs1.95 per unit (15pc) increase in tariff under uniform tariff regime though it questioned the justifications on technical and legal basis. For the first time in almost two decades, the rate for lifeline consumers — using up to 50 units per month — has therefore also increased, to Rs3.95 per unit from the existing rate of Rs2 per unit, as the application of Rs1.95 per unit is for all consumers. The tariff increase was immediately notified by…

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Energy panel discusses affordable power supply with provinces

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ISLAMABAD: A meeting of the Cabinet Committee on Energy (CCOE) was held under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar here in Islamabad on Thursday. The meeting was informed that the proposed policy was aimed at ensuring universal access of electricity through a self-sustainable power sector, developed and premised on optimal utilization of indigenous resources, integrated planning approach, efficient and liquid market design and affordable and environment friendly outcome for the consumers. Secretary Power Division briefed the CCoE on the salient features of the…

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Plan to set up mines, minerals university reviewed

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QUETTA: Balochistan Governor Amanullah Khan Yasinzai on Thursday reviewed a proposal about establishing a mines and minerals university in the Nokundi area of Chagai district. Official sources said that Industry Secretary Abdul Majid and other officials concerned briefed the governor about the plan. Governor Yasinzai, who is chancellor of the eight public sector universities in the province, said since Balochistan was rich in natural resources, including minerals, all aspects for setting up of the university on natural resources, mines and minerals should be reviewed carefully and its planning should be…

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Sepa tells SHC Keamari ‘gas leakage’ deaths were caused by soya bean dust

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Parameters of carbon monoxide and particulate toxic matters were exceeding the prescribed limits of the provincial environmental quality standards during the soya bean and pet-coke handling at the Karachi port in February last year when 17 people died in the Keamari area and hundreds of others were affected. This was stated by the Sindh Environmental Protection Agency (Sepa) on Thursday in a report submitted to the Sindh High Court (SHC) on the alleged gas leakage incident. Filing the final report in respect of the gas leakage incident in Keamari, the…

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