Year: 2023

K-Electric held its 112th Annual General Meeting (AGM) for FY22. The meeting was chaired by Moonis Alvi, Chief Executive Officer, KE who was authorized to chair this meeting by the Chairman of the Board, Mark Skelton. The Chairman and the KE Board members were in attendance on virtual mode, while KE leadership was present in person. The KE’s operational performance shows improvement on the back of sustained investments across the value chain. The company’s transmission and distribution losses declined by 2.2 percentage points, closing at 15.3 percent in FY22 against…

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The year 2022 remained very tough and challenging for the country’s economy on many fronts, as the consistent depreciation of the rupee continued to deepen the economic crisis, suggesting the government to consult with the business community to find a direction towards better economic solutions. FPCCI former president and BMP Chairman Mian Anjum Nisar observed that at the end of the year, economic distress has become a focus, as inflation skyrocketed to over 20% and macroeconomic cues weakened, prompting the State Bank of Pakistan to resort to tools available at…

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The power sector circular debt has crossed the Rs 2.5 trillion mark and is growing. None of the political parties that came to power in the last decade or so have had any idea how to solve this problem. Every few years the government of the day kept on clearing the circular debt payments by parking the liabilities elsewhere. Finance minister Ishaq Dar did this kind of book-keeping exercise in the early days of his last stint as finance minister in the last Pakistan Muslim League-Nawaz government. Now there are…

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Coal mine accidents have unfortunately become more frequent in our country. Adding to the already alarming death toll in the country’s mining industry, two more miners died and another was injured in a coal mine gas blast in the Karez Honosam area of Orakzai on Saturday. According to data compiled by IndustriALL Global Union, unsafe mining in Pakistan claimed the lives of more than 150 workers and injured more than 20 others during the last year alone. Most of these accidents are caused by mine collapses, gas leaks and flooding.…

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The China-aided Eastbay Expressway of Gwadar port has begun operation since June, enhancing connectivity of the port, which is now transporting two hundred thousand tonnes of fertilizer. Karot Hydropower started commercial operation in June as well, which provides cheap and clean electricity, and can reduce 3.5 million metric tonnes of carbon emissions annually. The TEL and Nova power plants in Thar also started operations with the local coal. The Shanghai Electric Thar coal-based power plant has been connected to the national grid. Six model farms under Pakistan-China Red Chilli Contract…

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