Year: 2021

Power Tariff Hike

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Electricity tariffs for the domestic consumers are going dearer by more than what was earlier suggested. The increase approved by Nepra, awaiting government notification is Rs1.68 per unit in the newly announced unprotected consumer category. Recall that lifeline consumer definition has now been expanded from 50 units to 100 units. And the protected category now also included consumers using up to 200 units a month – but with the qualification of maximum monthly usage of under 200 units for six straight months. In contrast to what was communicated earlier, Nepra’s…

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Status of the IMF Programme

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IMF Gas Reforms

There continues to be a hiatus in the finalization of the sixth review of the IMF Extended Fund Facility to Pakistan. The Pakistan economic team, led by the Finance Minister arrived in Washington on the 4th of October and negotiations for completion of the review and the setting of targets and reform agenda for subsequent reviews continued till the 23rd of October. The Pakistan team has since returned to Pakistan and talks continue. This is already the longest period taken to finalize a quarterly review in the twenty-two IMF programmes…

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NTDC MD’s office: JS Power Division, GM vying for additional charge

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A Joint Secretary (JS) from the Power Division and a General Manager (GM) from the National Transmission & Despatch Company (NTDC) are vying for additional charge of the office of Managing Director (MD) lying vacant after sudden resignation of the incumbent one within three months of his appointment, said sources. The sources added that the Board of Directors (BoD) of the entity was dominated by the ex-officio members from the Power and Planning Divisions of the federal government under the chairmanship of Naveed Ismail and it suits the Board to…

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RLNG power plants’ sell-off: JP Morgan team briefed on investment opportunities

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The Privatisation Division has held a meeting with JP Morgan officials in the backdrop of the privatisation of two RLNG power plants of Haveli Bahadar Shah and Balloki. The JP Morgan is one the world’s largest investment banks and advising the consortium of Qatar Investment Authority (QIA), which showed keen interest for the privatisation of the NPPMCL. The senior representatives of JP Morgan Asif Raza – managing director, Global Corporate Bank CEEMEA along with Imran Zaidi – managing director, Global Corporate Bank MENA and Amin M Khawaja, chief executive officer,…

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Gas Predicament

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PAKISTAN’S cash-strapped government has been forced to buy the priciest LNG shipment from a Qatari trader for delivery later this month to avoid blackouts. Pakistan must pay a huge amount for its energy needs following default by two suppliers on their long-term commitments to supply one LNG cargo each per month at the fixed rate of 11.95pc and 11.63pc of Brent with the spot market now exceeding 35pc of Brent. The Qatari firm will supply the cargo at a price of more than $30.5mmbtu, which will bridge the anticipated gas…

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