Year: 2023

PM orders speedy completion of energy projects

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APP LAHORE: Prime Minis­ter Shehbaz Sharif on Sunday issued directives for speedy completion of solar and wind energy projects. While chairing a meeting on renewable energy, he said it was the government’s main priority to encourage the production of electricity through solar and wind energy sources. The renewable sources would produce low-cost and environment-friendly electricity, he added. PM Sharif pointed out that the last (PTI’s) government did not complete the solar and wind energy projects started by the previous government of Pakistan Muslim League-Nawaz. The 220 million people of Pakistan…

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Two oil firms pay Rs1.4bn dues China encourages Pakistani new energy companies for collaboration Two oil firms pay Rs1.4bn dues

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pak-china

Haining city has a number of advanced photovoltaic energy storage and other new energy enterprises, looking forward to strengthening technical exchanges and cooperation with Pakistani and other Belt and Road Initiative countries in the field of commerce and new energy. These views were expressed by Jin Hongxian, Deputy Director of Economic Development Office of Zhouwangmiao, Haining City, Zhejiang province, China in a recent business matchmaking between Haining and Pakistani technology companies. With a GDP of RMB 119.63 billion in 2021, Haining has forged a new energy emerging manufacturing cluster with…

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Producers see oil rebound to $100 a barrel

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oil

Oil may resume its rally in 2023 as Chinese demand recovers after Covid curbs were scrapped and lack of investment limits growth in supply, Opec country officials told Reuters, with a growing number seeing a possible return to $100 a barrel. In 2022, oil soared above $100 for the first time since 2014 as demand recovered from Covid-19 lockdowns in much of the world and Russia’s invasion of Ukraine added to supply concerns. But Brent crude ended the year close to $86 on fears of global recession. A move back…

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Oct-Dec QTA: Discos seek increase in tariffs

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powertariffs

Power Distribution Companies (Discos) have sought an increase of up to Paisa 70 per unit in their tariffs to recover Rs 17.198 billion from their consumers for the second quarter (Oct-December) of fiscal year 2022-23 under Quarterly Tariff Adjustment (QTA) mechanism. National Electric Power Regulatory Authority (Nepra) is scheduled to hold a public hearing on the QTA adjustments of Discos on February 22, 2023 where Chief Financial Officers (CFOs) of Discos will justify their claims. Sometime Discos revise their QTA claims at the eleventh hour which changes the cumulative impact…

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Power tariff to be hiked in phases

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power

As for now, the government on Saturday approved Rs8 per unit increase in the price of electricity for both domestic and commercial consumers, local media reported. Electricity’s basic as well as quarterly tariff will be raised while arrangements are also being made to withdraw the subsidy. It has been learnt that the government is even ready to withdraw the subsidy it had offered to the export sector. The tariff under the head of quarterly adjustment will be increased in phases. According to the circular debt management plan, which was presented…

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