Month: January 2024

Power consumers to brace for another surge in bills

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power-subsidy

DISCOs seek to recover staggering Rs81.5b via quarterly adjustments for second quarter FY2023-24 ISLAMABAD: Consumers of electricity in Pakistan are on the verge of another financial shock as Power Distribution Companies (DISCOs) seek approval from the National Electric Power Regulatory Authority (NEPRA) to recover a staggering Rs81.5 billion through quarterly adjustments for the second quarter of the financial year 2023-24 (October to December 2023). The burden primarily stems from capacity charges for power plants that remained idle during this period, and this additional financial strain will be passed on to…

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Petroleum Conference 2024 ends with call to explore further oil and gas reserves in Pakistan

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anwar

Caretaker Prime Minister Anwaar-ul-Haq Kakar attended the Petroleum Conference 2024 as a Chief Guest today in Islamabad. Chief of Army Staff, General Syed Asim Munir, NI (M) was the guest of honour at the Conference. Provincial Chief Ministers, Minister for Energy, Secretary Petroleum, Government representatives, policy makers, foreign and domestic investors from the Energy and Petroleum (E&P) sector and international delegates also attended the conference. While addressing the Conference, the Prime Minister said that Pakistan was blessed with abundant natural resources. He emphasized the need for concerted efforts to explore…

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World Future Energy Summit 2024 to Build on COP28’s Change Agenda and Help Realise Transformative Future

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Annual summit in Abu Dhabi to accelerate COP28’s transition agreements and renewables pledge by bringing together industry leaders, policymakers, investment incubators, and world-class start-ups  Event in the UAE capital will play key role in furthering COP28 resolutions along the road to reality, says Summit Director. Dubai, UAE – January 30, 2024: The recent COP28 in Dubai underscored the UAE’s global leadership in a sustainable energy future with the brokering of a momentous US$700 million loss and damage fund, US$100 million of which was pledged by the host country, to provide…

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Pending requests: AGL urges Nepra to issue revised FCC

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Nepra-KE-1

ISLAMABAD: Attock Gen Limited (AGL) has urged National Electric Power Regulatory Authority (NEPRA) to issue revised Fuel Cost Component (FCC) against all its pending requests. In a letter to Chairman NEPRA, the power generation company referred to its pervious correspondence on this matter, through AGL, which emphasized the importance of the statutory obligation of NEPRA imposed by the Legislature under Section 31 (4 of the NEPRA Act 1997, to process the pending fuel cost adjustment decisions for the months of June to December 2023. In accordance with law, and AGLs…

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Petrol price likely to increase from Feb 1

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Petroleum-prices

ISLAMABAD: The interim government may raise the petrol price by Rs 8 to Rs 11 per litre with effect from February 1, 2024, depending on the exchange rate adjustments. The price of high-speed diesel (HSD) is also likely to go up by Rs 2 to Rs 7 per litre again based on exchange rate adjustment for next fortnightly starting from January 1. If the calculation will be based at expected exchange adjustment on Rs 2.75 per litre on petrol and Rs 4.50 per litre on HSD, the price of petrol…

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