Year: 2023

ECC approves Rs80bn subsidy for power sector

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power-sector

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved Rs80 billion subsidy for the power sector and allowed K-Electric to recover Rs1.52 per unit from consumers. The ECC meeting presided over by Finance Minister Ishaq Dar approved the Ministry of Energy (Power Division)’s various summaries with the one seeking quarterly tariff adjustments of KE. The meeting was told that as per the National Electricity Policy 2021, the government may maintain a uniform consumer-end tariff for KE and state-owned distribution companies. Accordingly, the KE applicable uniform variable charge is…

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KE discusses options of participation in Jamshoro power unit with PD

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Power-voices

ISLAMABAD: Power Division and K-Electric (KE) on Wednesday discussed different options for the latter’s participation in the second unit of Jamshoro coal power plant (2×600-MW), saying that the development of the project can be fast-tracked by structuring the transaction under G2G framework with Saudi Arabia. The meeting was attended by senior officials of Power Division, CPPA-G, NTDC and PPIB whereas KE’s also sent it senior management. In a letter to Power Minister Khurram Dastgir Khan, CEO KE Syed Moonis Abdullah Alvi shared the outcome of meetings of the Prime Minister’s…

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Parliamentary Delegation Visits Karot Hydropower Project – Explores Clean Energy Initiatives

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Parliamentary-Delegation

(Islamabad: June 19, 2023) A Parliamentary Delegation visited the Karot Hydropower Project, to commemorate its 1st Anniversary and celebrate the 10 years of the China-Pakistan Economic Corridor (CPEC) and the 10 Years of BRI. The Delegation was led by Senator Mushahid Hussain Syed, Chairman of Pakistan-China Institute, and Mustafa Hyder Sayed, Executive Director of Pakistan-China Institute. This was the first Cross Party Parliamentary delegation that visited the Karot Hydropower Project, including Senator Waleed Iqbal, Senator Taj Haider, Senator Sadia Abbasi, Senator Palwasha Mohammad Zai Khan, and Senator Muhammad Asad Ali…

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KE reluctant to constitute BoD as per PD recommendation

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Power-voices

ISLAMABAD: K-Electric (KE) is reportedly showing reluctance to reconstitute its Board as per Power Division’s recommendation, saying that orders of Sindh High Court (SHC) and directions of Securities and Exchange Commission of Pakistan (SECP) do not allow any change in the BoD, well informed sources told Business Recorder. Power Division, sources said, in a letter of May 31, 2023 notified fresh nominations of Board of KE on behalf of Government of Pakistan. KE’s Company Secretary, Rizwan Pesnani in response to the letter of Power Division has shared legal position of…

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FPCCI hails RE projects

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RE-projects

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday applauded a govt decision to green-light 13 old renewable energy (RE) projects of about 700 megawatts. FPCCI president Irfan Iqbal Sheikh said high cost of energy, coupled with circular debt, was hindering the industrial growth, and with rising oil prices it’s imperative to bring down the energy cost, he added. Sheikh highlighted that the cabinet committee on the issue constituted by the Prime Minister had played a pivotal role to support the move for the projects commonly called…

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