Month: May 2024

Government Seeks 25% Hike in Electricity Tariff

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Nepra-Price

ISLAMABAD: The government has formally proposed a significant increase of about 25% in the base national electricity tariff, to take effect from July 1, 2025. This hike aims to secure approximately Rs4 trillion in revenue for power companies in FY25. The National Electric Power Regulatory Authority (Nepra) has scheduled a public hearing for May 23 to examine a petition filed by the Central Power Purchasing Agency (CPPA) on behalf of power companies. The petition seeks an increase in the power purchase price (PPP) ranging from Rs4.40 to Rs6.51 per unit…

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Solis Seminar Episode 61 : Understanding the Battery Reserve Function and its Importance

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Solis-header

Background Power storage solutions have become essential for households worldwide, ensuring uninterrupted electricity during power failures and network disruptions. For instance, in natural disasters, home energy storage systems can provide continuous power – critical in such conditions. By storing renewable energy like solar power, these systems reduce grid dependency and overall energy consumption, optimizing electricity usage patterns and minimizing wastage through intelligent control. However, many energy storage setups fail to ensure sufficient backup capacity during emergencies, leading to inconvenient and potentially critical situations. What is the “Battery Reserve Function”? To…

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Petrol price in Pakistan reduced by Rs15.39 per litre: Check May 2024 New Rates

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petrol-price

ISLAMABAD – The federal government government on Wednesday lowered price of petrol by Rs15.39 for May 2024, and the new rate stands at Rs273.1. The price of petrol, and diesel were lowered on the recommendation of Oil and Gas Regulatory Authority (OGRA). In a notification, the Finance Ministry said price of petrol move down up by Rs15.39 to Rs273.10 a liter, while that of diesel dropped by Rs7.88 to Rs.274.08 per litre. The drop in fuel prices comes in the backdrop of changes in international market rates. Petrol Price in Pakistan May 2024 Fuel Types Price Petrol Rs273.10…

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UBG Leaders Address Investor Challenges and Call for Government Action on Economic Stability

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New-UBG

KARACHI (PR) – Leaders of the United Business Group (UBG), including Patron-in-Chief SM Tanveer, President Zubair Tufail, General Secretary (Sindh) Hanif Gohar, and Core Committee Member Syed Mazhar Ali Nasir, have highlighted the significant challenges faced by investors in Pakistan and called for robust government policies to ensure economic stability. In a discussion with a delegation of businessmen and industrialists, UBG leaders outlined the obstacles impeding both foreign and domestic investment. They pointed to a lack of long-term policies, economic uncertainties, and an onerous tax regime as major deterrents. High…

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IRENA to Monitor UAE Consensus Renewable Energy and Efficiency Goals, Announce Annual Report Series

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Renewable-Energy

Abu Dhabi – COP28 President Dr. Sultan Al Jaber has officially tasked the International Renewable Energy Agency (IRENA) with creating an annual report series to monitor and recommend actions on the UAE Consensus renewable energy and energy efficiency goals set at COP28. The UAE Consensus aims to triple renewable power capacity and double energy efficiency by 2030, key measures in the global effort to address climate change and maintain the 1.5°C target. This initiative focuses on transitioning away from fossil fuels in an equitable manner, with a net-zero target by…

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