Day: March 24, 2021

ISLAMABAD: The World Bank has proposed ‘Pakistan Model’ to hand over Distribution Companies (Discos) to the private sector for 20 years with equity injection of Rs 728 billion without any cash impact layoffs and transfer of government assets, sources close to SAPM on Power Tabish Gauhar told Business Recorder. The 18-month roadmap is supposed to be achieved using the examples of Turkey and some countries in Latin America as well as Pakistan’s indigenous experience with private participation. According to the roadmap, transfer of government assets to private parties and the…

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You say one thing while in the opposition, and quite the other while in the government. That also seems to apply perfectly well in the energy sector of Pakistan. All tariff increase is bad in opposition and inefficiencies are offered as the solution. When in government, increase is substituted by inevitable “rationalization”, and system inefficiencies are no longer the vital cog. It has happened all too often in the past few years, and the government’s recent decision in principle to go for an insane round of electricity price revision, is…

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DUBAI: United Arab Emirates power producer Abu Dhabi National Energy Co. (TAQA) announced on Wednesday plans to increase its renewable energy assets, in a shift away from reliance on oil. TAQA said in a statement that by the end of the decade more than 30% of its power generation would come from renewable sources such as solar, up from 5% today. Energy companies around the world are shifting towards renewable energy amid concerns about the long-term future for the oil industry as economies transition away from fossil fuels and pressure…

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KARACHI: “If we have to seriously pull out the country from crises, two radical decisions have to be made, reduction in interest rate up to 4 percent and cut in electricity and gas tariffs,” said economic and financial analyst Ateeq Ur Rehman. In January, SBP stated that it will maintain the basis point at the current level of 7 percent until the economy gets back to full capacity, further it will remain unchanged for inflation, economic activities and support to businesses. Therefore, SBP maintained the basis point for next two…

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The compulsory need to wear a face mask and observe other safety precautions against the coronavirus doesn’t end in the present times even after getting vaccinated against the deadly viral disease.Chief Executive Officer of Indus Hospital Dr Abdul Bari Khan stated this as he delivered the keynote speech at a seminar titled “Business responses to Covid-19 pandemic” organised by the National Forum for Environment and Health (NFEH).He said that observance of the safety precautions against the deadly infectious disease remained compulsory even after vaccination as the human body required some…

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