Year: 2023

NATIONAL EXCHEQUER SUFFERS RS 1.226 BLN DUE TO DISCOS’ PERFORMANCE

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The National Electric Power Regulatory Authority (NEPRA) on Tuesday expressed serious concern over electricity distribution companies (Discos’) as national exchequer lost Rs1.226 billion, ARY News reported. The deteriorating performance of the Discos’ in several cities of Pakistan due to which the national treasure suffered at least 1.226 billion in total. NEPRA report unveiled that the due to the efficient distribution, Discos’ including Gujranwala Electric Power Company (GEPCO), Faisalabad Electric Supply Company (FESCO), Multan Electric Power Company (MEPCO) the national exchequer got benefited. On the other hand, the inefficiency of Peshawar,…

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Delay in resolving pending issues: Two key investors’ groups give govt deadline

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Karachi Electric

The two key foreign investors’ groups of KE have given one-month deadline to Islamabad for withdrawal of all litigation, clearance of outstanding payments and signing of three long-awaited pacts or face litigation at international forum. The deadline was given on January 5, 2023 through a legal notice to Attorney General for Pakistan. Copies of notice have also been sent to Prime Minister, Shehbaz Sharif, Minister for Power and Minister for Law and Justice. The legal notice has been served by Al-Jomaih Power Limited and Denham Investments Limited, upon the Islamic…

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Q1 of July-Sept 2022-23: Nepra allows Discos to recover Rs41.938bn under QTA mechanism

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electric

The National Electric Power Regulatory Authority (Nepra) has allowed power distribution companies (Discos) to recover Rs 41.938 billion from their consumers for the first quarter of (July-September) 2022-23 under the QTA mechanism. The impact on IESCO consumers will be of Rs 1.97 per unit, LESCO Rs 2.76 per unit, GEPCO Rs 4.06 per unit, FESCO Rs 3.26 per unit, MEPCO Rs 4.80 per unit, PESCO Rs 1.25 per unit, HESCO Rs 1.77 per unit, QESCO Rs 4.09 per unit, SEPCO Rs 2.31 per unit, and TESCO Rs 3.62 per unit…

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CPEC second phase instrumental in achieving SDGs: govt

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Minister of State for Finance Dr Aisha Ghaus Pasha has stated that the second phase of the China-Pakistan Economic Corridor (CPEC) would be instrumental in achieving the SDGs. Speaking at the launch of a report titled, “All Pakistan Chinese Enterprise Association (APCEA) Sustainable Development Report 2022”, she said that it would also supplement Pakistan’s socioeconomic development. The minister added that as the infrastructure phase has been completed to fill the gaps, now important thing for Pakistan is the Phase-II, as well as, the joint venture for investment in Pakistan for…

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OPEC Expands Control Of Oil Markets As Shale Growth Stalls

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After a decade of exponential growth, the U.S. shale patch is no longer the swing producer on the global markets. That role is now back in the hands of OPEC and its largest and most influential members in the Middle East, analysts and industry executives say.  From growth of over 1 million barrels per day (bpd) in oil production annually before the pandemic hit demand in 2020, the United States is now set to see the growth rate at half of that, at best, this year. Although most of the…

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