Year: 2021

Rs473m charged illegally from LNG consumers in seven months

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he government has charged almost $2,960,000 (Rs473 million) illegally from LNG consumers in the last seven months in the name of margin of PLTL (Pakistan LNG Terminal Limited) despite its merger into Pakistan LNG Limited (PLL) on Jan 1, 2021. The PLTL Board of Directors has been abolished and there is no MD (Managing director) and CFO (Chief Financial Officer) of the PLTL in place since its merger. Interestingly, the government is found to have charged LNG consumers in the last seven months in the name of the PLTL margin…

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ADB, fin firms draw plan to close Asia coal-fired power plants

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Financial firms, including British insurer Prudential, lenders Citi and HSBC and BlackRock Real Assets are devising plans to speed up the closure of Asia’s coal-fired power plants in order to reduce the biggest source of carbon emissions, five people with knowledge of the initiative said. The novel proposal, which is being driven by the Asian Development Bank, offers a potentially workable model and early talks with Asian governments and multilateral banks are promising, the sources told Reuters. The group plans to create public-private partnerships to buy out the plants and…

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Subsea Mining: All Eyes on Marine Minerals Offshore Norway

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Marine minerals are coming under sharp focus offshore Norway. Analysts suggest it could be a $20 billion annual revenue industry by 2050, which is why many are taking an interest and developing the technology to make it happen.  Marine mineral mining has been something of a slow burner in the wider marine world. It has some clear challenges, not least location and depth of these potential resources, but also concerns around its environmental impact. Yet it now appears to be coming into a distinctly sharp focus, not least in Norway…

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Bureaucratic hurdles: KP’s four hydropower projects delayed by three years

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Khyber Pakhtunkhwa’s four 244.4 MW renewable and cheap electricity hydropower projects are stalled due to negligence of the Ministry of Energy (Power Division) and PESCO for the last three years. The projects are pending due to non-approval, notification, import certificates, and purchase agreement. Similarly, Pakhtunkhwa Energy and Development Organisation (PEDO) has an arrear of Rs7,147.604 million in electricity sales to the federal government. A reliable government source told this correspondent that the projects were delayed due to bureaucratic hurdles, which are hampering the production of cheap electricity, while Prime Minister…

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NEPRA reserves decision on K-Electric petition

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The National Electric Power Regulatory Authority (Nepra) has reserved its decision on the requests of K-Electric to increase tariff by Rs6.52 per unit on account of quarterly and monthly adjustments. However, it sought to reduce tariff by Rs1.50 per unit. The Karachi-based power utility had requested to allow an increase of around 37 paisa per unit in its normal tariff under quarterly adjustment for January-March 2021 period. According to petitions, K-Electric has pleaded to allow an additional charge of Rs1.98 per unit for electricity consumed in January, Rs2.495 for February…

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