Month: August 2023

Status quo in KE board re-composition case

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k-electric

KARACHI: In an “updated disclosure” following the Aug 21 order by the Grand Court of the Cayman Islands, K-Electric Ltd said on Thursday there’s been no change in the status of a case currently in the Sindh High Court (SHC) against the Infrastructure and Growth Capital Fund (IGCF) SPV-21 Ltd. The latest regulatory filing by the power utility follows the Cayman Islands court order telling Al Jomaih Power Ltd and Denham Investments Ltd — which control 46.2 per cent shareholding in KES Power that, in turn, owns majority shares in…

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Surplus power generation: Consumers to pay over Rs124bn capacity charges

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power-tariff

LESCO wants to recover the highest amount of Rs28.906bn followed by Multan Electric Supply Company ISLAMABAD: Consumers will pay capacity charges of over Rs124 billion for the surplus power generation during the last quarter of fiscal year 2022-23 in the coming months. The XWDISCOs are seeking approval of the regulator for the recovery of capacity charges as well as others from the consumers. As per official figures, the Lahore Electric Supply Company (LESCO) wanted to recover the highest amount of Rs28.906 billion on account of capacity payment from the consumers…

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UoSC payment to NTDC: Tax dept issuing notices to Discos for not deducting WHT

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Tax-dept

LAHORE: The Income Tax department is issuing notices to the power distribution companies (Discos) for not deducting withholding tax against the payment of Use of System Charges (UoSC) to the National Transmission & Despatch Company (NTDC), said sources. The Use of System Charges means any charge (fixed or variable) payable by a Disco, or any other use of the transmission system for transportation of power from generator to delivery metering point and delivery to a distribution company or any other user. The UoSC is part and parcel of the process…

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Minister for Energy vows to aggressively pursue the TAPI project

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TAPI-gas

Ambassador of Turkmenistan H.E. Atadjan Movlamov called on Interim Federal Minister for Energy Muhammad Ali here today.Ambassador extended his congratulations to Minister on assuming his new portfolio and exchanged pleasantries.Minister for Energy expressed his gratitude and passed on the regards from Caretaker Prime Minister of Pakistan Anwaar-ul-Haq Kakar. “PM is pleased that the TAPI project is dealt on priority basis.”Both sides agreed to speed up the TAPI gas pipeline project. Mr Muhmmad Ali underscored the importance of gas for the economy of Pakistan. “With increasing energy demand of the country,…

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Govt seeks to raise power rate by Rs3.55 per unit

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NEPRA

• Wants to extract Rs146bn in quarterly tariff adjustment from consumers in six instalments to minimise ‘price shock’ ISLAMABAD: The rising electricity costs appeared to have put the power companies in a vicious cycle of declining consumption and shifting resultant additional capacity charges to consumers, compelling the government to seek staggered imposition of Rs146 billion quarterly charges in six months, instead of three months to minimise the ‘price shock’. The situation emerged at a public hearing organised by the National Electric Power Regulatory Authority (Nepra) on the government request for…

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