Day: September 15, 2022

Lucky to install 25.3MW captive solar power project in Karachi at estimated cost of Rs3bn

Admin

Lucky Cement Limited, one of Pakistan’s biggest cement manufacturers, announced entering into an arrangement with Orient Energy Systems (Private) Limited, an engineering company, for the supply and installation of 25.3 MW captive solar power project at its Karachi plant. In a notice sent to the Pakistan Stock Exchange (PSX) on Wednesday, the cement manufacturer shared that the estimated cost of the project is Rs3 billion “The company is in the process of establishing Letter of Credit (LCs) for import of equipment, which is subject to receiving approval from the State…

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Gas policy shifts divert focus from LNG sea changes

Admin

2022 has seen the specter of government interventions envelop gas markets: whether it’s price caps, encouraging benchmark diversification, pooling procurement in a centralized platform or using state-owned banks to directly buy LNG cargoes, all ideas appeared to be on the table. While pipeline gas and LNG share several fundamental attributes, they are also different in many aspects. In this flurry of policy proposals and announcements, there are significant changes taking place in the LNG industry itself. These changes relate to price indexation, market participation and trade flows. This piece, as…

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What steps are necessary for large-scale introduction of EVs in Pakistan?

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The government should develop a robust institutional framework for the implementation of the revised policy so that EVs are introduced on a large scale as soon as possible. The report is jointly compiled by various Chinese and Pakistani organizations including NUST Energy Center, Sustainable Development Policy Institute (SDPI), All Pakistan Chinese Enterprise Association (APCEA), China Three Gorges South Asia Investment Ltd CSAIL, and PCI. The report recommended that for large-scale induction of EVs in Pakistan: The existing GOP EV Policy be reviewed, updated, and strengthened, for large-scale introduction of EVs…

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36 LNG spot cargoes: PLL seeks exemption from PPRA rules

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Fearing extreme volatility in the international market during the upcoming years, Pakistan LNG Limited (PLL) has sought exemption from PPRA rules for procurement of approximately 36 LNG spot cargoes for the period from January to December 2023, well-informed sources told Business Recorder. PLL is mandated by the government to import LNG to meet the natural gas requirements of the country. Accordingly, PLL is managing LNG imports through long-term procurement contracts as well as spot procurement contracts. Due to the extreme volatility in spot LNG market, PLL is facing challenges to…

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600MW projects offered: Govt unveils solar PV projects policy

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The government Wednesday unveiled its policy on fast-track development of solar PV projects at an investors’ conference to offer projects of 600 MW. The salient features of the policy are: (i) single stage, two-envelope bidding; (ii) straight line tariff; (iii) 70 percent indexation of tariff; (iv) benchmark tariff by Nepra; (v) guaranteed purchase of power; (vi) land and interconnection to be provided by GoP; (vii) exemption on all import related duties and taxes; (viii) existing EPA & IA will be used; (ix) Commercial Operation Date (COD) within 12 months of…

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