WAPDA awards Consultancy Services Contract February 28, 2024: The Pakistan Water and Power Development Authority (WAPDA) signed a contract worth Rs. 46.5 million with Quality Solutions Technologies (Pvt) Ltd for consultancy services for digitization of significant rock carvings in direct area of impact of Diamer Basha Dam with modeling and preparation of data for 3D printing. The major scope of…
Read More
High officials and energy experts discussed challenges in energy sectorKarachi (February 28, 2024) The first meeting of FPCCI Central Standing Committee on Energy 2024-2025 was held under the chairmanship of the convener of the committee, Malik Khuda Bakhsh.The meeting was attended by business leaders and technocrats. Utilization of available resources, search for new resources and various suggestions were considered. Executive…
Read More
In a move to stabilize domestic prices and facilitate refinery maintenance, Russia has announced a six-month prohibition on gasoline exports starting March 1. The ban, approved by Prime Minister Mikhail Mishustin and confirmed by Deputy Prime Minister Alexander Novak, aims to address surging demand from consumers and farmers while mitigating the impact of recent attacks on Russian refineries. Deputy Prime…
Read More
The interim government has crafted a blueprint for the LPG policy in 2024, proposing the deregulation of LPG pricing alongside a range of tax incentives. Under this draft, new LPG production would enjoy a 10-year tax holiday, while petroleum levy would be abolished, and GST reduced from 18 percent to 5 percent. In this proposed framework, the Petroleum Division’s role…
Read More
In Islamabad, the caretaker Federal Government has announced plans to amend the National Electric Power Regulatory Authority (NEPRA) and Oil and Gas Regulatory Authority (OGRA) Acts with the aim of insulating both regulatory bodies from governmental interference in future tariff notifications. Sources close to the caretaker Minister for Power and Petroleum revealed this significant decision, which was made at the…
Read More
In Islamabad, Pakistan is set to emulate the successful Turkish model by outsourcing the management of its power distribution companies (DISCOs) in a bid to curtail losses, enhance efficiency, and attract investment. Following an agreement with the International Monetary Fund (IMF), Pakistan aims to engage a transaction adviser for long-term concessions by April 2024. The World Bank has offered grant-based…
Read More
In Islamabad, Outgoing caretaker Minister for Power and Petroleum, Muhammad Ali, reflected on recent “painful” gas pricing reforms as one of the administration’s significant accomplishments, despite acknowledging the hardship it brought to consumers. During his departure address, he also conceded the government’s inability to negotiate debt relief with foreign independent power producers (IPPs), particularly those from China, throughout the caretaker…
Read More
