Year: 2021

Privatisation Commission fails to take sell-off decision

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The Privatisation Commission (PC) board on Thursday could not take decision on privatisation of power distribution companies due to Ministry of Energy’s failure to improve the poor condition of these companies over the past two and a half years. The Power Division has shown its inability to even prepare a roadmap for the privatisation of power distribution companies, saying it lacked the “capacity”, showed official documents. A meeting of the PC board ended inconclusively on the question of whether to outsource the management of electricity distribution companies as their privatisation…

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CCOE bans gas supply to industrial units

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Amid a rising circular debt, the Cabinet Committee on Energy (CCOE) has approved the disconnection of gas supply to industrial units for self-generation of electricity through captive power plants (CPPs) in a bid to divert gas to production of cheaper electricity. The disconnection of gas supply to industrial units will result in diversion of 150 million cubic feet per day (mmcfd) of gas, which will help add 3,000 megawatts of cheaper electricity to the national grid and reduce circular debt. The industrial units will be encouraged to take connections from…

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Rs610bn requests under Temporary Economic Refinance Facility received

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ISLAMABAD: The State Bank of Pakistan (SBP) has received requests for Rs610.2 billion until Jan 7 under the Temporary Economic Refinance Facility (TERF) for setting up of new industrial units in order to support sustainable economic growth. Of the requested amount, the approved financing has reached Rs293.5bn under TERF during the end-April to June 7, 2021 period, Commerce Adviser Razak Dawood said in a tweet on Wednesday. The scheme, which was launched in March 2020, will come to an end on March 31, 2021. TERF provides long-term concessionary refinance at…

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BQPS-III first turbine commissioning on fast track

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K-Electric’s flagship 900 MW power plant, BQPS-III is progressing on fast track and the Gas Turbine, Generator and Heat Recovery Boiler for the first unit of 450 MW have arrived at the power utility’s Bin Qasim Power Complex. Steam Turbine and Transformers for the first unit are on the way to the site. All relevant civil works are progressing swiftly for the installation with the target of ensuring that the first unit is ready to be commissioned by the summer of 2021, and the second unit of 450 MW by…

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China to ‘gift’ 0.5m doses of Covid-19 vaccine to Pakistan by Jan 31: Qureshi

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Foreign Minister Shah Mehmood Qureshi on Thursday announced that China has promised to provide 500,000 doses of a coronavirus vaccine to Pakistan by January 31. In a video message after a phone call with his Chinese counterpart Wang Yi, Qureshi said China offered Islamabad to send an airplane and airlift the vaccines. The minister said he held a detailed conversation with the Chinese foreign minister in which he “discussed Pakistan’s requirements”, after Prime Minister Imran Khan had directed him to increase interaction with Beijing “considering the sensitivity of the situation”.…

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