Year: 2022

National Power Parks Management Company (Pvt.) Limited (NPPMCL) received an unprecedented response from a syndicate of local banks for project financing in excess of Rs100 billion, said a press release issued on Monday. NPPMCL, which owns and operates two state-of-the-art power plants, is being privatized by the Privatisation Commission which led to the recapitalization of the government of Pakistan’s equity and sovereign guaranteed debt, refinancing it with long-term projects loans on a commercial basis. The successful bank syndicate includes conventional and Islamic banks (HBL, Meezan, NBP, Faysal, Alfalah, Bank of…

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Prime Minister’s constituted National Coordination Committee on Foreign Funded Projects (NCC-FFP) has scrutinized a total of 171 projects with involvement of foreign funding of almost $30 billion and found 70 projects as problematic with a cost of $13.28 billion during the last fiscal year 2020-21. According to the Year Book 2020-21 released on Monday, the NCC-FFP scrutinized 171 projects and with 236 follow-ups, so the total reviews of the number of projects had gone up to 436 projects. The official report states that the prime minister of Pakistan constituted a…

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Despite a visible slowdown in cement demand—though expectations earlier ran contrary to what transpired—and ballooning energy costs, cement industry in the first half of the fiscal year far exceeded estimates. Revenues and earnings grew substantially on the back of impressive retention, reduced overheads and financial costs, as well as a reasonable improvement in “other incomes”. Total cement dispatches dropped 4 percent in 1H, with a massive reduction of 32 percent in exports and a small growth in domestic sales (2%). Low export prices and freight costs made exporting overseas infeasible,…

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Amid declining domestic gas production and expensive fuel imports, a new policy for conversion of Coal-to-Gas (LTG) and Coal-to-Liquid (CTL) with lucrative tax holidays and duty exemptions is being finalised to be made part of the upcoming federal budget 2022-23. Informed sources said the draft Policy on Coal-to-Liquid and Coal-to-Gas was prepared by Oracle Power and China National Coal Development Co (CNCDC). The policy, according to the Special Assistant to Prime Minister on CPEC Khalid Mansoor, is aimed initially at scaling up Thar coal production for CTG and CTL (diesel)…

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The Islamic Development Bank has signed three financing agreements, valued at $180 million, with the Government of Pakistan, to support its green agenda, it said, in a statement.  The financing is set to fund the Mohmand Dam and Hydropower Plant project. It aims to add 800 megawatts to Pakistan’s installed hydropower capacity and generate approximately 2,862 gigawatt hours annually.  “We are working with other players from the Arab Coordination Group to develop a multi-purpose dam. It will not only enhance energy and water supply, but also the livelihoods of the local…

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