Year: 2022

From being applauded for taking the “difficult” decisions to taking none at all – life has come full circlet for the government. The inability to rationalize gas prices was (rightly) dubbed as one of the key reasons why the energy sector is in such a mess. The blame was put on the previous government, which failed to act upon the regulator’s approved determinations and kept the consumer end prices unchanged for over two years. All of this was supposed to change after April 2022, as electricity tariffs were significantly revised,…

Read More

Over half a dozen Development Finance Institutions (DFIs) have sought amendments in pacts with Independent Power Producers (IPPs) to replace USD LIBOR with Secured Overnight Financing Rate (SOFR), to be applicable from June 30, 2023, sources close to Chairman NEPRA told Business Recorder. Development Finance Institutions (DFIs ) comprise of Asian Development Bank (ADB), British International Investment plc (BII), Deutsche Investitions – Und Entwicklungsgesellschaft mbH (DEG), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), International Finance Corporation (IFC), and Islamic Development Bank (IsDB). The Export-Import Bank of Korea (KEXIM), and Societe De Promotion…

Read More

 Pakistan’s official delegation will leave for Moscow on Monday (today) on a three-day visit for talks with the Russian authorities to explore possibilities of import of crude oil at a discounted price, mode of payment, and shipment cost, etc. “Both sides would also deliberate on futuristic cooperative areas including two gas pipelines that include the much-touted Pakistan Stream Gas Pipeline (PSGP), to be laid from Karachi to Lahore and a trans-nations gasline from Russia via Kazakhstan to Pakistan,” one of the top officials of the Energy Ministry told The News.…

Read More

The FFBL Power Co. Ltd. (FPCL) signed a Memorandum of Understanding with Sindh Engro Coal Mining Company (SECMC) for the use of Thar coal in the company’s power plant in Karachi. According to Gwadar Pro, it was stated by the two companies in separate statements. In Karachi, FPCL operates a 118-megawatt coal-fired power plant next to the Fauji Fertilizer Bin Qasim Ltd. (FFBL) Fertilizer Complex.The MoU is a significant step forward in harnessing indigenous resources to achieve better energy prices while reducing the burden on foreign exchange, according to FPCL.…

Read More

Sindh Minister for Information, Transport and Mass Transit Sharjeel Inam Memon has announced that a modern, affordable and environment-friendly electric taxi service would soon be launched from Karachi, which would be extended to other major cities of the province. The minister made this announcement while talking to the media persons after inspecting under construction Bus Rapid Transport Red Line project launched with the cooperation of the Asian Development Bank, here on Sunday. He said that negotiations were underway on electric taxi service project and Sindh government was working seriously on…

Read More