Month: January 2023

Private Power & Infrastructure Board (PPIB) has sought viewpoints of CPPA-G and NTDC on estimated Liquidated Damages (LDs) in case of termination of Letter of Support (LoS) of M/s Siddiqsons Energy Limited (SEL). In a letter to Chief Executive Officer (CEO) and Managing Director NTDC, Managing Director PPIB, Shah Jahan Mirza has said that Siddiqsons Energy Limited, after obtaining seven extensions in the Financial Closing (FC) date, through amendments in Letter of Support, failed to achieve FC by the extended FC Date. Accordingly, Performance Guarantee (PG) amounting to US$ 3,500,000…

While it is unlikely that Pakistan would default on its debt, not due to the economic health and cost but rather the anticipated social and strategic backlash that the stakeholders are concerned with. However, in case of default, following is an anticipated scenario. First day: It would be total standstill in the country except the national media running continuous news and analyses and international media carrying this as a major story. For the government, it would be an emergency situation and they would try to comprehend and manage the situation.…

The national exchequer has to bear a whopping Rs 170 billion financial loss on account of low collection of revenues due to poor governance/ management by some of the distribution companies (Discos) for the financial year 2021-22 (FY21-22). Around Rs. 2.517 trillion were collected against the billed amount of Rs. 2.686 trillion in the year under review, depicting a total loss of around Rs. 170 billion that has to be suffered by the national kitty for FY21-22, said the National Electric Power Regulator Authority’s (Nepra) Performance Evaluation Report [of Distribution…

A judicial commission should be formed to inquire into corrupt practices and people behind black marketing of LPG as it has touched a historic high of Rs300/kg across the country. Although the fixed price of LPG by Ogra is Rs204 per kg, but on the contrary, the government-owned SSGC has increased the price of LPG per kg to Rs300 with rate of domestic cylinder increasing by Rs235 to Rs3,550 and the price of commercial cylinder has reached a high of Rs13,620, ie, up by Rs908. Irfan Khokhar, chairman LPG Association…