Year: 2023

ECC approves Rs100b guarantee for PSO

Admin
pso

Allows recovery of Rs1.72 tariff hike from K-Electric consumers ISLAMABAD: The interim government on Friday approved sovereign guarantees of Rs100 billion in favour of Pakistan State Oil (PSO) to help the company avoid bankruptcy and also allowed recovery of Rs1.72 per unit hike in electricity prices from K-Electric (KE) consumers. The decisions were made by the Economic Coordination Committee (ECC) of the cabinet that once again failed to reach an agreement on increasing gas prices for fertiliser plants after withdrawing subsidies. The ECC reached an understanding that subsidised gas supplies…

Read More

470MW hydel project planned

Admin

NEPRA asked to approve run-of-the-river project in Kohistan district ISLAMABAD: LSG Hydro Power Limited (LSG) is seeking concurrence of the National Electric Power Regulatory Authority (Nepra) for its 470-megawatt Lower Spat Gah Hydro Power Project, which is planned to be set up in Kohistan. Total cost of the project is estimated at $1.031 billion. LSG has submitted an application for approval of its proposed project, as stipulated in Section 14B (5) of the Regulation of Generation, Transmission and Distribution of Electric Power Act 1997 (Nepra Act). LSG, a public limited…

Read More

Rs176bn receivables create liquidity issue for SNGPL

Admin
sngpl.jpg

ISLAMABAD: Sui Northern Gas Pipeline Limited (SNGPL) said that it is facing grievous liquidity due to outstanding dues of Rs 176.302 billion against the power sector. “A huge amount of Rs 176.302 billion has piled up against power sector due to non-payment of outstanding dues by Wapda and Central Power Purchasing Agency –Guaranteed (CPPA-G),” said Chief Financial Officer SNGPL in a letter to Director General (Gas) Petroleum Division. Out of Rs 176.302 billion, receivables against Guddu Power stood at Rs 33.329 billion, Nandipur Rs 16.769 billion, TPS Muzaffargarh Rs 1.235…

Read More

TAPI project: Turkmenistan seeks US nod for relaxation of Kabul sanctions?

Admin
gas-pipeline

ISLAMABAD: Turkmenistan is said to have approached Washington for relaxation of sanctions on Afghanistan for financing of much talked about TAPI (Turkmenistan- Afghanistan- Pakistan- India) project, sources close to Secretary Petroleum told Business Recorder. This update was shared by Muhammetmyrat Amanov, Chief Executive of TAPI Pipeline Company Ltd with visiting Pakistani delegation led by Major General Tabassum Habib, Director General, Special Investment Facilitation Council (SIFC), sources added. A delegation from Pakistan visited Ashgabat to attend the 28th Oil Gas of Turkmenistan 2023 International Conference and Expo held on 25-27 October 2023.…

Read More

Nepra appellate tribunal officials: Panel formed on conversion of pay scales

Admin
Nepra-Act

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar has constituted a four-member panel on conversion of the pay scale from MP-1 scale to last pay drawn of Chairman and MP-II to MP-1 scale of members of Nepra appellate tribunal, official sources told Business Recorder. The caretaker Prime Minister took this decision on a proposal of Ministry of Law and Justice in which the latter had proposed changes in package of Chairman and Members of Nepra Appellate Tribunal. Ministry of Law and Justice explained that Nepra Appellate Tribunal, Islamabad was established under Section 12A…

Read More