Month: June 2024

Federal Government to Formulate High-Level Committee for AJK Power and Water Charges Resolution ISLAMABAD:

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New-AJK

The federal government is likely to establish a high-level committee to find a political solution for the electricity rates, water usage charges (WUC), and control of grid stations in Azad Jammu & Kashmir (AJK). This decision comes after public sector stakeholders failed to reach an amicable solution, informed sources told Business Recorder. A meeting was held on May 22, 2024, in the Ministry of Kashmir Affairs & Gilgit-Baltistan (KA&GB), led by the Secretary of the KA&GB Division. Attendees included the Secretary of the Water Resources Division, the Secretary of the…

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Nepra Approves Rs46.6 Billion Additional Financial Burden on Consumers ISLAMABAD:

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NEPRA

The National Electric Power Regulatory Authority (Nepra) has approved an additional financial burden of Rs46.613 billion on consumers of distribution companies (Discos) and K-Electric (KE) under the Quarterly Tariff Adjustment (QTA) for the third quarter (January-March) of the current fiscal year. Of the total approved adjustment, Rs28.515 billion is attributed to capacity charges. An additional Rs10.284 billion will be recovered due to the lower Fuel Cost Adjustment (FCA) impact of Transmission and Distribution (T&D) losses, Rs5.309 billion for Operations and Maintenance (O&M), and Rs2.541 billion for Use of System Charges.…

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Nepra Supports Over Rs60 Billion KE Write-Offs ISLAMABAD:

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NEPRA-KE

Chairman of the National Electric Power Regulatory Authority (Nepra), Waseem Mukhtar, has expressed support for over Rs60 billion in write-offs for K-Electric (KE). During a meeting at the Special Investment Facilitation Council (SIFC) aimed at resolving KE’s longstanding issues, Mukhtar noted that losses for government-owned distribution companies (Discos) are typically absorbed into the circular debt or recovered through consumer surcharges. KE’s CEO, Syed Moonis Abdullah Alvi, outlined that extensive deliberations involving key stakeholders led to the Economic Coordination Committee (ECC) of the Cabinet approving several agreements to settle disputes between…

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Pakistan and Kuwait to Sign $25 Million Loan Agreement for Mohmand Dam ISLAMABAD:

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Mohmand-Dam

Pakistan and Kuwait have signed a $25 million loan agreement aimed at funding the Mohmand Dam during the 5th session of the Pakistan-Kuwait Joint Ministerial Commission (JMC) in Kuwait, held from May 28 to May 30, 2024. The formal signing of the loan agreement will take place on June 3. This session marked significant progress in strengthening bilateral ties, with assurances from the Kuwait Fund to engage the Arab Coordination Group in financing the Diamer Bhasha Dam. The session was chaired by Abdul Aleem Khan, Pakistan’s Minister for Privatisation, and…

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Govt Proposes Record Rs1.22 Trillion for PSDP with Major Focus on Energy Sector ISLAMABAD:

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New-PSDP

In a significant policy shift, the government has proposed a record Rs1.22 trillion for the federal Public Sector Development Programme (PSDP) for the next budget, with a substantial 59% allocation for infrastructure projects. This proposal marks a 64% increase from this year’s downward revised PSDP and a 30% rise from the original budget of the current fiscal year. The Annual Plan Coordination Committee (APCC) has prioritized major energy sector projects, dedicating 31% of the budget, or Rs378 billion, to these schemes—an impressive 212% increase over the previous year’s allocation. This…

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