Month: April 2024

Power Sector Seeks Rs23 Billion Extra for March Electricity

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power-supply

Despite a significant 79% power generation from cost-effective local sources, power sector entities are requesting an additional Rs23 billion through fuel cost adjustment (FCA) for electricity consumed in March. The Central Power Purchasing Agency (CPPA) is seeking approval from the National Electric Power Regulatory Authority (Nepra) to impose an extra Rs2.94 per unit in fuel costs on consumers for the upcoming billing cycle. This proposed increase, amounting to nearly 46% more than the previous fuel cost, raises concerns about the accuracy of forecasting fuel expenses in the power sector. Recent…

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WWEA Takes Leading Roles in IRENA Coalition for Action

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WWEA-IRENA

At the recent annual strategy meeting of the IRENA Coalition for Action, WWEA (World Wind Energy Association) assumed key positions to drive global renewable energy initiatives forward. WWEA Secretary General Stefan Gsänger has been elected as the chair of the new “Empowering People and Communities” working group, focusing on the socioeconomic and environmental benefits of an inclusive energy transformation. Alongside Gsänger, Shota Furuya from the Institute for Sustainable Energy Policies (Japan) and Brian Kawuma from Power for All will collaborate to promote local value creation, quality employment, and community ownership…

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Ali Rathore Appointed as CEO of Engro Fertilizers Limited

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Ali-Rathore

Engro Fertilizers Limited (EFERT) announced Ali Rathore’s appointment as its new Chief Executive Officer (CEO), effective April 26, 2024, for an 11-month term. The decision was approved by the company’s Board of Directors and shared in a notice to the Pakistan Stock Exchange (PSX). Ali Rathore, who currently serves as the Chief Financial Officer (CFO) of Engro Fertilizers Limited, brings over 25 years of extensive experience in financial management and operations, with a career spanning across the USA, UK, Australia, and the MENA region. His qualifications include an MBA from…

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Petrol Goes Up By 5% in 2 WeeksStatus Quo in Petroleum Prices Should’ve Been MaintainedAtif Ikram Sheikh

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oil-and-gas

Karachi (PR): Mr. Atif Ikram Sheikh, President FPCCI, has maintained that the government should have kept the petroleum prices unchanged – given the slide in international oil prices by $1 per barrel on the back of relative calm in West Asian region after Iran – Israel conflict did not go out of hand as expected; and, the demand destruction due to lowered economic & trade activities. Mr. Atif Ikram Sheikh maintained that the trend in rupee-dollar parity is visible for all to see that rupee value will remain largely stable…

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Government Allows Exchange Rate Adjustment for PSO Fuel Prices

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Petrol-price

The federal government has approved Pakistan State Oil (PSO) to make a per litre exchange rate adjustment of Rs1.34 on petrol and 26 paisa on high-speed diesel (HSD) for the fortnight starting April 16, 2024. According to documents obtained by Business Recorder, this adjustment marks an increase of Rs1.01 per litre for petrol compared to the previous fortnight, while HSD sees a reduction of 30 paisa per litre compared to the previous adjustment of 56 paisa. The average Platts price, including incidentals and duty, has risen by Rs1.73 per litre…

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