Year: 2021

Power consumers to pay Rs1.1tr

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The honest power consumers are likely to pay an additional Rs1.1 trillion to the powerful independent power plants (IPPs) including idle generation companies on account of rising capacity payments. The capacity payments have continued to increase and are expected to touch a high of Rs1.6 trillion in 2023. During the tenure of Pakistan Tehreek-e-Insaf (PTI) government, the capacity payments have swelled 53% from 2018 to 2021. The capacity payments stood at Rs500 billion in 2018, the year when the PTI came to power. This has jumped to nearly Rs950 billion…

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Hammad Azhar takes detailed briefing on power sector

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ISLAMABAD: Federal Minister for Energy Muhammad Hammad Azhar on Wednesday took detailed briefing on matters relating to Power Sector. The Federal Minister was apprised on the current stock of circular debt which stood at Rs. 2300 billion approximately. Power Division has devised monthly circular debt reporting which also indicated different factors contributing in its build up, said a press release. The Federal Minister was also briefed about the ongoing development projects under the organisations of Power Division. These included major transmission and distribution improvement projects. The minister was apprised that…

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NEPRA chairman meets Senate chief

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ISLAMABAD: Chairman National Electronic Power Regulatory Authority (NEPRA) along with member NEPRA Balochistan on Wednesday called on Chairman Senate Muhammad Sadiq Sanjarani here at Parliament House to brief him on power supply in the province. While exchanging views on the overall energy situation in the province the Chairman Senate said that the power system in Balochistan should be improved further. In order to give relief to the people of Balochistan in the energy sector, the Chairman Senate directed NEPRA officials to complete the ongoing projects in the province at the…

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Biden likely to unveil plan to cut emissions at climate summit

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WASHINGTON: US Presi­dent Joe Biden will host a global climate summit on Thursday and Friday, during which he is expected to unveil a plan to cut carbon emissions by at least 50 percent by 2030, from 2005 levels. “We expect action at this meeting. We’re looking for people to make announcements to raise their ambition to indicate next steps that they intend to take to help solve the climate problem,” a senior Biden administration official told reporters on Wednesday. UN Secretary General Ant­o­nio Guterres has called the summit a “make…

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GENCO Holding Company CEO’s appointment extended for a year

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The federal government has allowed the incumbent chief executive officer (CEO) of GENCO Holding Company Limited (GHCL), Muhammad Imran, to continue working on his post for a period of twelve months based on this satisfactory performance. Moreover, the managing director of the Private Power and Infrastructure Board (PPIB), Shah Jahan Mirza, has been allowed to continue working as CEO of the Alternative Energy Development Board (AEDB) till the appointment of a regular head.  Sources privy to the development informed Profit that the government, on the basis of stellar performance, has extended the…

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