Year: 2023

Glaring Anomalies Need Immediate Attention of the Government

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irfan-iqbal-sheikh-fpcci

Karachi Irfan Iqbal Sheikh, President FPCCI, has apprised the media that after in-depth analysis of the federal budget 2023 – 24, FPCCI has come up with many budget anomalies; which will prove to be counterproductive if not rectified before the passage of the final version of the Finance Bill by the parliament. Irfan Iqbal Sheikh said that the most important anomalies are related to the customs. For example, section 14-A should be revised as, at present, the business community is facing major problems related to Delay Detention Certificate on imported…

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Senators inquire about KAPCO contract

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power-sector

ISLAMABAD: The Senate Standing Committee on Power on Friday inquired about the permission given for the extension of contract to Kot Addu Power Company (Kapco) till October 2022. The committee, which met under the chairmanship of Saifullah Abro, questioned in what capacity the extension was granted to Kapco and why the transactions were not blocked on the expiry of its time period. The committee was informed that Rs57 billion was paid to Kapco at a rate of Rs19.5 per unit, but no capacity payment was made after the expiry of…

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AGL adds three more big batteries, concedes gas demand will fall even with coal exit

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AGL-Energy

Australia’s biggest coal generation company AGL Energy has added another three big batteries to its development pipeline, as it seeks to transform its energy portfolio ahead of the planned shutdown of its last two coal generators. AGL says two new batteries – a 250MW, one hour battery at Torrens Island in South Australia and a 50MW, one hour battery at Broken Hill – are all but complete and should be in full operation in the next three months. The Torrens Island battery has already begun production. A final investment decision…

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GoodWe, Risen Energy, OSW, and Solenergy Collaborate to Power World’s First Living Coral Biobank with Sustainable Energy Solution

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GOODWE-Risen

GoodWe, Risen Energy Australia, OSW, and Solenergy have come together in the Forever Reef project, donating a 22.5kW system with 15kW battery storage system to the World’s First Living Coral Biobank. Led by Great Barrier Reef Legacy, this initiative aims to protect coral species for future generations and combat the impacts of climate change. Inside the World’s First Living Coral Biobank As leaders in the solar industry, the companies understand that solar offers more than just sustainability; it holds the power to transform our world. This joint effort showcases the boundless potential…

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Government to provide Rs322bn in power subsidy in FY24

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power-subsidy

KARACHI: Federal Minister for Energy Khurram Dastgir on Friday said the government would provide Rs322 billion in tariff differential subsidy (TDS) to power consumers through distribution companies (discos) across the country. Addressing a press conference along with National Transmission and Dispatch Company Managing Director Rana Jabbar, the minister said that consumers of Karachi would receive Rs171 billion in TDS via KE in the next financial year. “Moreover, Rs151 billion were allocated in the budget 2023-24 for other parts of the country including Balochistan, Azad Jammu and Kashmir and merged ex-FATA…

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