Day: July 5, 2024

Ogra Expresses Strong Displeasure Over Media Reporting of Correspondences with Refineries

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OGRA

KARACHI – The Oil & Gas Regulatory Authority (Ogra) has formally protested against the publication of its communications with the refining sector in print media. In a letter addressed to the country’s five refineries on Thursday, Ogra criticized what it termed as “highly unprofessional” reporting that undermines collaborative efforts. Expressing dismay over the dissemination of news reports related to regulatory issues, Ogra emphasized its ongoing commitment to supporting refineries and resolving challenges through cooperative means. The regulator underscored that such media coverage not only disrupts the resolution process but also…

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India’s Solar Power Growth Slows to Six-Year Low in First Half of 2024

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Solar-Power

SINGAPORE – India’s solar power generation expanded at its slowest pace in six years during the first half of 2024, according to analysis of data from the federal grid regulator. The growth in solar electricity production was overshadowed by a stronger reliance on coal to meet escalating power demands. Data from Grid-India revealed that electricity generated from coal increased by 10.4% in the six months ending June 30, surpassing the overall power generation growth rate of 9.7% for the same period. Solar power generation reached 63.6 billion kilowatt-hours (kWh) in…

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Cabinet Panel Approves Winding Up of ENAR Petrotech Services

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Cabinet-Panel

ISLAMABAD – The Cabinet Committee on State-Owned Enterprises has approved the winding up of ENAR Petrotech Services Limited (ESPL). The committee, chaired by Federal Minister for Finance & Revenue Muhammad Aurangzeb, also decided on restructuring and preparing two power distribution companies, Tesco and Qesco, for privatization. During a meeting at the Finance Division on Thursday, the committee reviewed summaries from various ministries and divisions regarding the categorization of their state-owned enterprises (SOEs) as strategic or essential. The committee approved the summaries from the Power Division, Ministry of Industries & Production,…

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Leghari Concedes High Power Tariff in Senate, Promises Reforms

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Awais-Leghari

ISLAMABAD – Energy Minister Awais Leghari acknowledged in the Senate on Thursday that electricity prices are currently high but assured that through reforms, the government aims to provide cheaper electricity to consumers within the next 18 months. During the question-answer session, Minister Leghari addressed circulating news about a federal cabinet decision to increase electricity rates. He clarified that the regulator sets the average price for the entire year every June. “Given the average hike rates last June, the cabinet, with Prime Minister Shehbaz Sharif’s directive, decided not to place the…

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New Electricity Tariffs: How Much Will Your Bill Increase?

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Your-Bill

ISLAMABAD – The Power Division has announced the implementation of new electricity tariffs starting from July 2024. Most consumers will see a slight increase in their monthly bills due to the updated tariffs, with the government providing a substantial subsidy of Rs440 billion to mitigate the impact. In a statement, the Power Division detailed that for the 16.8 million (58%) poorer domestic consumers, the increase will be less than 2%. In contrast, the relatively wealthier 42% of consumers will see an average increase of 9%. Despite the immediate increases, the…

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