Year: 2022

Discos allowed to recover extra Rs2.5bn for electricity consumption in September

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The National Electric Power Regulatory Authority (Nepra) on Wednesday allowed ex-Wapda Distribution Companies (Discos) to charge about nine paise per unit higher rates to their consumers under monthly fuel cost adjustment (FCA) for electricity consumed in September. At a public hearing presided over by Nepra Chairman Tauseef H. Farooqui and members Rafique Shaikh and Maqsood Anwar Khan, the regulator took up a petition from Central Power Purchasing Agency (CPPA) on behalf of 10 Discos for about 20 paise per unit increase in FCA to mop up about Rs2.5 billion additional…

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Dialogue on Energy Crises

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Dialogue on Energy Crises October 27, 2022 Former PM Shahid Khaqan Abbasi for adopting emergency measures to resolve inefficiencies in energy sector to save economy Islamabad: Former prime minister Shahid Khaqan Abbasi has said that inefficiencies in the energy sector have to be addressed on an emergency basis to save the national economy from an utter crash.While addressing a dialogue on “Energy crises and way forward” organized by the Energy Update here at the Islamabad Club, the former PM said that inefficient working of the power and gas sectors had…

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OGDCL Demonstrates 58% Increase in Profit During First Quarter of FY2023

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The Oil & Gas Development Company Limited (OGDCL) has announced its financial results for the quarter that ended on September 30 of the fiscal year 2022-23. While continuing its growth journey, the company has registered a 58 percent increase in its profit compared to the fiscal year 2021-22. The OGDCL Board of Directors, in its meeting has approved the Financial Results for the quarter. The OGDCL Financial Results show the company demonstrated a 58 percent year-on-year (YoY) increase in its profit, earning Rs. 53.3 billion in the first quarter of…

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K-Electric records profit of Rs. 8.5 billion in FY22

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K-Electric (KE) held its 112th Annual General Meeting (AGM) for FY 2022. The meeting was chaired by Moonis Alvi – Chief Executive Officer, KE who was authorized to chair this meeting by the Chairman of the Board Mark Skelton. The Chairman and KE Board members were in attendance virtually, while KE leadership was present in person. KE’s operational performance has shown improvement on the back of sustained investments across the value chain. The company’s transmission and distribution losses improved by 2.2 percentage points, closing at 15.3% in FY22 from 17.5%…

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OGDCL quarterly profit rises to Rs53.3bn

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Oil and Gas Development Company Ltd recorded a net profit of Rs53.3 billion for July-September, up 58 per cent from a year ago. The company also announced an interim cash dividend of Rs1.75 per share, a stock notice showed on Tuesday. According to Arif Habib Ltd, net sales settled at Rs106bn in the three-month period, up 48pc on an annual basis, on the back of a 43pc increase in oil prices and 26pc depreciation in the rupee’s value against the greenback. Pakistan Oilfields Ltd said its earnings for July-September totalled…

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