Day: May 11, 2024

CCP Greenlights Merger in Thermal Power Sector

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power-subsidy

The Competition Commission of Pakistan (CCP) has granted approval for a merger within the thermal power sector. The sanctioned transaction involves M/s. Whistler Enterprises (Private) Limited (WEL) acquiring a 20.97% stake in M/s. Orient Power Company (Private) Limited (OPCOL). WEL, a newly established private limited company in Pakistan, specializes in power generation businesses and related services. On the other hand, OPCOL is an independent power producer operating a 225-MW power plant in Balloki, Kasur. The acquisition is from M/s. Mahmood Textile Mills Limited and Khawaja Mehr Ali, facilitated by a…

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Engro Powergen Thar Limited Urges CPPA-G to Settle Rs 32 Billion Debt by Month-End

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thar-coal-power

Engro Powergen Thar Limited (EPTL) has urgently requested Central Power Purchasing Agency-Guaranteed (CPPA-G) to clear at least Rs 32 billion in outstanding payments by the end of this month. This appeal aims to prevent a default on upcoming debt obligations, according to reliable sources. EPTL’s plea to CPPA-G comes at a crucial juncture as Minister for Planning, Development, and Special Initiatives Ahsan Iqbal is in Beijing to address payment delays to Independent Power Producers (IPPs) under the China Pakistan Economic Corridor (CPEC). In a letter from EPTL’s Chief Financial Officer…

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PPIB Proposes 10% Duty on Solar PV Module Imports for a Decade

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solar-panel

The Private Power and Infrastructure Board (PPIB) has recommended imposing a 10 percent duty on the import of solar PV modules for the next 10 years and beyond. This proposal aims to boost domestic manufacturing of PV panels, as per sources familiar with the matter. The proposal, part of the “Solar Panel & Allied Equipment Manufacturing Policy 2024” draft, suggests a constant 10% duty over the specified period. PPIB argues that this strategy will support new manufacturers and incentivize consumers to opt for local products, gradually reducing dependence on imports.…

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CM Gandapur Urges Federal Government to Clear Hydel Power Profit Arrears for KP

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CM-Gandapur

Chief Minister Ali Amin Gandapur of Khyber Pakhtunkhwa emphasized the critical need for the federal government to settle the outstanding arrears in hydel power profits owed to the province. Addressing key priorities of his administration, he highlighted efforts to tackle the energy crisis and maintain law and order during a press conference. Gandapur encouraged citizens to consider starting livestock businesses and reaffirmed his government’s commitment to providing free healthcare through the Sehat Sahulat Card. He also emphasized developmental initiatives for merged districts and announced plans for a people-centric budget. Regarding…

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President Zardari Calls for Global Action on Climate Change and Green Investment

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In a recent meeting with Azerbaijan’s Minister of Ecology and Natural Resources and COP29 president-designate, Mukhtar Babayev, President Asif Ali Zardari emphasized the urgent need for global collaboration to combat climate change. He highlighted the importance of adopting green technologies, promoting afforestation, and reducing greenhouse gas emissions to address environmental challenges effectively. President Zardari noted that climate change is impacting glaciers and causing water scarcity, stressing that a united effort is crucial to mitigate these adverse effects. He congratulated Azerbaijan on hosting COP29 in November and expressed hope that the…

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