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Day: February 23, 2024

RISING GAS & ELECTRICITY TARIFFSDay not far when thousands to come out on streets across Pakistan, fears President KCCI

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Gas-Project

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while expressing deep concerns over rising cost of doing business due to unbearable hike in energy tariffs, feared that the day was not far when thousands of jobless people would come out on streets to protest against the government’s policy to keep on raising gas and electricity tariffs…

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PPP Announces Murad Ali Shah as Candidate for Sindh Chief Minister

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murad-ali

Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari declared Murad Ali Shah as the party’s nominee for the position of Sindh chief minister. Bhutto expressed confidence in the party’s ability to outperform its previous term, stating, “We will surpass our own achievements.” Additionally, Bhutto revealed that PPP has selected Awais Shah as their choice for the Speaker of the Sindh…

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CCoE approves work on the 80 km segment of the IP Gas Pipeline inside Pakistan

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A summary of Petroleum Division regarding IP Gas Pipeline was taken up by the Cabinet Committee on Energy (CCoE) in its session of February 23, 2024. The CCoE approved the recommendations of the Ministerial Oversight Committee for the IP Project constituted by the Prime Minister in September 2023 whereby the Committee recommended to start work on the 80 km segment…

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Power Sector Circular Debt in Pakistan Surges to Rs2.635 Trillion

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circular-debt

ISLAMABAD: Pakistan’s power sector circular debt has soared to Rs2.635 trillion in the first seven months of the fiscal year 2023-24, compared to Rs2.626 trillion during the same period in 2022-23. According to official documents, the total payables to power producers amounted to Rs1.760 trillion, with Rs111 billion owed by generation companies (Gencos) to fuel suppliers, and Rs765 billion parked…

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Controversy Surrounds Gabral-Kalam Hydropower Project Bid

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Gabral-Kalam

PESHAWAR: The Khyber Pakhtunkhwa (KP) government has initiated an investigation into alleged manipulation and fraud in the bidding process for the Rs40 billion Gabral Kalam 88MW hydropower project, following complaints received regarding the awarding of the contract. A letter from the KP Energy Department has instructed the Pakhtunkhwa Energy Development Organisation (PEDO) to conduct a thorough investigation, ensuring transparency and…

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Experts Emphasize Challenges and Opportunities in Transitioning from Coal Power in Pakistan

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coal

ISLAMABAD: In a public-private dialogue organized by the Sustainable Development Policy Institute (SDPI) as part of its Clean Energy Transition Programme, experts discussed the need for innovative financing and technological advancements to facilitate a just and clean energy transition in Pakistan. Titled “Beginning of the End: Transitioning away from Coal – Forging an Orderly, Equitable, and Just Energy Transition in…

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Pakistan Aims for $20 Billion Trade with Saudi Arabia

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Saudi-Arabia

ISLAMABAD: Highlighting the need to boost trade, Caretaker Federal Minister for Commerce and Industry, Gohar Ejaz, expressed Pakistan’s ambition to elevate bilateral trade with Saudi Arabia to $20 billion. Addressing the Pakistan-Saudi Business Forum in Riyadh, Ejaz emphasized the intention to enact legislation to foster bilateral investment, as per a press release from the commerce ministry. Ejaz also held discussions…

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Pakistan Set to Seek $6 Billion IMF Loan for Debt Repayment

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IMF-board

ISLAMABAD: Pakistan is gearing up to request a fresh loan of at least $6 billion from the International Monetary Fund (IMF) to assist the incoming government in repaying billions in debt due this year, Bloomberg News reported on Thursday, citing a Pakistani official. The country intends to pursue negotiations for an Extended Fund Facility with the IMF, with talks expected…

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