Year: 2021

ISLAMABAD: In a new development, the National Accountability Bureau (NAB) has written a letter to the Power Division saying that the government has the full authority to execute their altered agreements with 47 IPPs in a bid to provide relief to those officials who are hesitant to implement the new agreements because of fears of possible action against them in future. The anti-graft body has written this in its letter to the Power Division after the government missed the deadline of March 29, 2021 in paying Rs85 billion to nine…

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Pakistan’s ongoing battle with electricity is one that the country just can’t seem to overcome. The alarming rate of transmission, distribution losses, power theft and the resulting load shedding is one that has left the country in a constant state of grief for decades. More alarming is the estimated Rs 53 billion worth of power theft in Pakistan in 2018 which is assumed to have risen since. While the government continues to try and figure out which is the best route to take with the IPPs and pricing strategies are…

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Russian experts, on the request of Sindh Chief Minister Syed Murad Ali Shah, have agreed to submit their proposals for modernisation of Pakistan Steel Mills (PSM) for which a study visit would be conducted. This was emerged on Tuesday when a Russian delegation, led by its adviser Andrey Zubal, called on the Sindh CM and discussed matters of mutual interest, said an official statement issued on Tuesday night. The delegation members include Consul General of Russia in Karachi Rus Welding, Dr Aleksandr G Khozin, Ahmed Rana of Concord Ventures (PVT)…

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Though the Federal Investigation Agency (FIA) is probing the oil crisis of last year, shortage of petrol and jet fuel may once again be looming in the country as stocks have plummeted to the lowest levels. The country has average storage capacity for 73 days. However, oil marketing companies were maintaining stocks for an average of 15 days as on April 6. Jet fuel is widely used by airlines. Its stocks have also dropped that can now meet needs of the airlines for only four days. Prime Minister Imran Khan…

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