Year: 2022

The government has formally decided to supply electricity at a rate of 9 cents per kWh and RLNG at $9 per MMBtu without any disparity to zero-rated five export-oriented sectors across the country for existing connections till end-June 2023, The News has learnt. Textiles including jute, leather, carpet, surgical, and sports goods will get the energy at regionally competitive rates to reduce the cost of manufacturing and enhance exports. Around 65 percent of Pakistan’s exports come from these five sectors. The Federal Cabinet approved these rates on August 5, 2022…

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E3PK#news@9)1 Dear Pakistanis, On behalf of the Beacon Energy Limited team, I would like to wish you a happy Independence Day. As we celebrate the 75th anniversary of our nation’s independence, let us remember those who sacrificed their lives so that we could live in freedom. Let us also remember that we, as citizens, have a responsibility to play our part in making Pakistan a cleaner and greener place for generations to come. At Beacon Energy Limited, we are helping to make Pakistan a more sustainable nation by offering smart…

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The National Electric Power Regulatory Authority (Nepra) on Wednesday allowed the K-Electric to collect additional Rs0.5715 per unit on account of quarterly tariff adjustments for three months from June to August 2022 that will be charged in the next three months starting from August to October 2022, raising the average tariff to Rs26.08 per unit. This upward adjustment would be recovered from the consumers in their utility bills of August, September and October 2022 based on the electricity units consumed during the months of June, July and August 2022. However,…

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U.S. gas exporter, Freeport LNG, has retracted the force majeure it initially declared after an explosion in June, a development that could cost its buyers billions of dollars in losses, a document showed and three trading sources said. Force majeure is a notice used to describe events outside a company’s control, such as a natural disaster, which usually releases it from contractual obligation without penalty. The force majeure would also have allowed Freeport’s LNG buyers to exit their own agreements to deliver gas to end users. Instead, they are facing…

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Finance Minister Miftah Ismail has said the IMF programme would be resumed before the end of August, which should bring macroeconomic stability while improvement in power crisis might help post balance of payment surplus in months ahead. “Macroeconomic stability was forthcoming with the IMF programme resuming before end of August as all conditionalities have been met,” the minister said at a meeting with Pakistan Stock Exchange (PSX) officials. Furthermore, he said the balance of payments position is now well under control. “With increased hydel power, lower energy demand and lower…

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