Year: 2021

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Tuesday notified about 90-paisa per unit increase in electricity rates for ex-Wapda Distribution Companies (Discos) to generate about Rs6.9 billion additional revenue to the troubled power sector. The increase was allowed on account of monthly fuel cost adjustment (FCA) for electricity consumed in January. 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 consumers.…

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LAHORE: The Italian energy company, Eni, has sold its assets in Pakistan to Prime International Oil & Gas Company, a newly established joint venture (JV) between its local employees and Hub Power Company, in line with its 2021-24 business plan to dispose of its non-key assets to raise cash after the global downturn triggered by the Covid-19 pandemic and to move towards cleaner fuels. A statement posted by the oil and gas exploration firm on its website said the sale of its Pakistani assets aligned to its wider strategy of…

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Ghani Global Limited (PSX symbol: GGL), a Lahore based Islamic-commerce oriented industrial and manufacturing group, has announced its foray into the manufacturing of sophisticated technology for enhancing energy storage efficiency by way of production of long-life supercapacitor batteries in Pakistan. The project shall be completed in a joint venture arrangement with M/s Kilowatt Labs Inc., New York, USA. The global energy storage technology market is projected to increase 2.5-4 terawatt-hours (TWh) annually by 2030. According to the Report on Energy Storage Market of December 2020 of the US Department of…

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ISLAMABAD: Power Division and Board of Directors (BoD) of National Transmission and Despatch Company (NTDC) are said to have locked horns on the selection of Managing Director of the Company, sources close to MD NTDC told Business Recorder. The Board wants to appoint Azaz Ahmed as Managing Director of NTDC who is demanding a salary package of $ 15,000 per month but the Power Division pointed out that according to the Rules, the Board has to recommend three names not one; and reportedly favours a member of the Federal Public…

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As an important development in energy sector, the Khyber Pakhtunkhwa* government has signed contract agreement with the Chinese construction company for the construction of 300 MW Balakot Hydro Power Project, the biggest ever project of hydro power generation under the provincial government. The 300 mega watt power project would be constructed with an estimated cost of Rs. 85.00 billion in a period of six years with the financial assistance of Asian Development Bank. A ceremony to this effect was held here on Tuesday with Chief Minister Khyber Pakhtunkhwa Mahmood Khan…

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