Month: April 2021

ISLAMABAD: After the NAB letter to the Power Division which says the government has the full authority to execute its revised deals with IPPs, the top bureaucracy of both the power and finance divisions is not ready to implement the altered contracts, arguing the anti-graft body didn’t so far validate the process of negotiations and agreements inked with the IPPs. The NAB in February 2021 took suo moto of the whole negotiations and signing of MoUs, Master agreements and revised power purchase agreements (PPAs) and got hold of all records…

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Sindh Industries and Commerce Minister Jam Ikramullah Dharejo has deplored the federal government’s decision to ban the supply of gas to Sindh’s industries and termed it a prejudiced move. “We strongly condemn the Centre’s biased attitude,” he said while speaking to the media in Hyderabad on Wednesday. He reiterated that Sindh accounts for 70 per cent of Pakistan’s total gas production from which industrial, commercial and domestic consumers are supplied gas across the country. But, he added, the province is not getting its due share of gas. He warned that…

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday notified about 64 paisa per unit increase in electricity rates for ex-Wapda distribution companies (Discos) to generate about Rs4.4 billion additional revenue for the troubled power sector. The increase was allowed on account of monthly fuel cost adjustment (FCA) for electricity consumed in February. This would be charged to consumers in the current billing month. The tariff increase will be applicable to all consumers except lifeline consumers ie 50 units per month. This FCA is also not applicable to K-Electric…

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The Economic Coordination Committee (ECC) of the cabinet on Wednesday put off a decision on payment of first installment out of Rs403 billion outstanding payments to independent power producers (IPPs) but approved about Rs457bn restructuring plan for Pakistan International Airlines (PIA) along with retrenchment of its 25 per cent workforce (about 3,500 staff) at a cost of Rs13bn. A meeting of the ECC presided over by Minister for Finance, Revenue, Industries and Production Hammad Azhar also approved absorption of staff of power generation companies (Gencos) that became surplus after closure…

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