Day: May 20, 2024

SDPI, Energy Update joint seminar on Solar Net metering

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clean-energy

Experts stress Net metering regime should assist Pakistan in rapidly achieving its clean energy transition goals The experts at a roundtable on solar net metering challenge on Friday demanded a holistic revamp of existing policy as an urgent measure for promoting solar energy as the cheapest power resource amid growing energy demand. The Sustainable Development Policy Institute and Energy Update jointly organized the roundtable discussion on “Solar Net Metering Conundrum: Adapting Solar Net Metering to Evolving Market Dynamics in Pakistan”.In his opening remarks, Dr Abid Qaiyum Suleri, Executive Director, SDPI…

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RAILBUS: A Game-Changer for Karachi’s Urban Transportation

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karachi-urban-transportation

Karachi, Pakistan – As Karachi grapples with escalating traffic congestion and pollution, the introduction of RAILBUS services promises a significant improvement in the city’s urban transportation system. This innovative solution is set to transform the mobility, environment, and economy of Pakistan’s largest metropolis. Easing Traffic Congestion Traffic congestion is a daily ordeal for Karachiites, with overburdened roads leading to frequent jams and long commute times. RAILBUS services offer a solution by providing an efficient and reliable public transportation alternative. Operating on dedicated tracks with scheduled services, RAILBUS can swiftly and…

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Government’s Effort to Implement WACOG Formula for Gas Tariffs Faces Opposition

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oil and gas

ISLAMABAD: The government’s efforts to implement the Weighted Average Cost of Gas (WACOG) formula for biannual gas tariff determination, which blends local and imported RLNG prices, have encountered significant opposition. Sindh Chief Minister has strongly opposed the formula, arguing that it violates Article 158 of the Constitution, which stipulates that the province producing the gas has the first right to use it. This sentiment was echoed by officials from the Energy Ministry, who emphasized the need for constitutional compliance. Prime Minister Shehbaz Sharif, on April 17, formed an 11-member committee…

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Sinosure to Implement Key Hydropower Projects in Pakistan

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Karot-Hydropower

ISLAMABAD: China’s state-owned insurance company, Sinosure, has shown a willingness to implement two major hydropower projects in Pakistan—the 700-MW Azad Pattan Hydropower Project and the 1124-MW Kohala Hydropower Project—following guidance from Beijing, well-informed sources told Business Recorder. Successive Pakistani governments have struggled to commence these vital hydropower projects due to Sinosure’s reluctance, primarily driven by payment issues with existing companies and the substantial circular debt, which currently hovers around Rs 2.6 trillion. Minister for Planning, Development, and Special Initiatives recently raised concerns about the delay in these projects during meetings…

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Circular Debt Soars to Over Rs2.6 Trillion, Exceeding Government Targets

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Pakistan-Debt

ISLAMABAD: The circular debt in Pakistan’s power sector has surged to Rs2.636 trillion by the end of January 2024, surpassing the government’s commitment to keep it within Rs2.31 trillion for the fiscal year. According to data from the Power Division of the Ministry of Energy, the circular debt rose by Rs84 billion in January alone, reaching Rs2.636 trillion compared to Rs2.551 trillion in December 2023. Despite multiple tariff hikes through annual base tariffs, quarterly adjustments, and fuel cost adjustments, the debt continues to climb, with a net increase of Rs325…

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