Month: November 2022

Xi: China Looks To Boost Energy Partnership With Russia

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China is ready to work for a closer partnership with Russia in the energy sector, Chinese President Xi Jinping was quoted as saying on Tuesday, days before the EU embargo on seaborne imports of Russian crude oil and the G7-EU price cap on Russia’s oil are set to enter into force next week. “Energy cooperation is an important cornerstone of practical cooperation between China and Russia, and also a positive force for maintaining global energy security,” Chinese news agency Xinhua quoted Xi as saying in a letter to a China-Russia…

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Thatta/Jhimpir: November 30th, 2022 Two new 110MW wind power plants inaugurated in Jhimpir

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Federal Power Minister, Khurram Dastgir Khan, has said that every new wind power project launched in the Gharo-Jhimpir corridor of Sindh is a step forward towards achieving the national goal of producing cheaper and clean electricity through indigenous energy sources.The Federal Power Minister stated this on Wednesday after formally inaugurating two new wind energy projects in the Jhimpir area i.e. a 60 MWs plant of Metro Wind Power Ltd and a 50 MWs renewable project of Gul Ahmed Electric Ltd.The Power Minister said the Gharo-Jhimpir corridor being the site of…

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Rs0.32 tariff cut on cards

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The National Electric Power Regulatory Authority (Nepra) on Tuesday indicated a power tariff reduction of Rs0.32 per unit on account of fuel cost adjustment for October 2022. The regulator conducted a public hearing to consider a proposed reduction in tariff and said that the consumers of all power distribution companies would get a relief of Rs3.3 billion. Nepra said that the Central Power Purchasing AgencyGuarantee (CPPA-G) had submitted a petition seeking a tariff cut of Rs0.25 per unit under fuel cost adjustment for October. However, following examination of data, the…

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Petroleum levy on diesel likely to be increased

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Consumers of diesel are not likely to see any relief from the government as it may decide to increase the rate of the petroleum levy (PL) from December 1, 2022. Finance Minister Ishaq Dar is also expected to maintain the existing oil prices for the first two weeks of December 2022. With the recent increase in PL on petrol and HighOctane Blending Component (HOBC), to the budgeted level of Rs50 per litre, the government now has the space to increase the rate of PL on diesel – a key product,…

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KE’s tariff increased by Rs3.21 per unit

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Karachi Electric

The government on Tuesday approved a subsidy of Rs3.6 per unit for agriculture tube wells but increased tariff rate by Rs3.21 per unit for K-Electric’s (KE) residential consumers, in a move that shows hard choices between populist measures and meeting International Monetary Fund’s (IMF) requirements. The Economic Coordination Committee (ECC) of the cabinet that took these decisions also allowed imposition of regulatory duties on man-made fabric in addition to allocating Rs15 billion for the Election Commission of Pakistan (ECP) for conducting general elections. Finance Minister Ishaq Dar presided over the…

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