Year: 2021

With rise in power tariff, circular debt on the decline

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ISLAMABAD: The Cabinet Committee on Energy (CCOE) that met here on Thursday noted that the projected circular debt accumulation is on the decline as the circular debt flow in FY 2020-21 is now projected to be around Rs 440 billion compared to Rs 538 billion in the last fiscal year, primarily due to better DISCOs performance, lower unbudgeted subsidies and the impact of the recently-announced Rs 1.95 tariff increase, a senior official told The News. “With Federal Minister for Development and Special Initiatives Asad Umar in the chair, the CCOE…

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Petrol prices: The new headache

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It is that time of the year again. Petrol bomb is all over the news. People have apparently been hit by the bomb for the fifth consecutive fortnight. The price notifications are being rejected left, right, and center. Those at the helm are finding other silver linings to tweet about. It is hard to fathom that a phenomenon as simple as petroleum pricing fails to be communicated well enough and continues to trigger “rejections”. But before going into the rather simple details, it would be worth reminding everybody that the…

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Black oil back

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The power generation mix has been made to shift away from furnace oil as coal and RLNG sources were added to the mix over the last few years. The share of furnace oil in power generation fell from 7.4 percent in FY19 to 3.4 percent in FY20; and the same fell from 5 percent in CY19 to 4 percent in CY20. However, the use of furnace oil by the power sector has again picked up and FY21 so far has seen significant increase in the use of fuel. This is…

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Diamer-Bhasha dam to change fortune’

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LAHORE: Diamer-Bhasha Dam will change the fortune of country, particularly of Gilgit-Baltistan (G-B), remarked Water and Power Development Authority (Wapda) Chairman Muzammil Hussain. In a meeting with G-B Chief Minister Muhammad Khalid Khursheed on Thursday, he praised continued support of the region for building the massive dam. Matters pertaining to hydro development in the region and confidence-building measures (CBMs) undertaken by Wapda in the project area for socio-economic development of locals were discussed in detail during the meeting. Hussain highlighted various facets of CBMs being implemented at a cost of Rs78.5…

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CCoE delays Rs399bn payment to IPPs

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ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Thursday did not approve payment of Rs399 billion to independent power producers to let all the members satisfy their conscience in three days if the finalised deals are prudent and no wrong decision is being imposed. Presided over by Minister for Planning and Development Asad Umar, the committee also desired that sponsors of the upcoming LNG terminal should be given maximum confidence to complete their projects and warned some stakeholders that moving the goalposts that discourage private local and foreign investors would…

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