Month: July 2024

Power Division Ready to Annul IPP Agreements if Directed by NA Panel

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Power-distribution

ISLAMABAD: The Power Division has assured the National Assembly Standing Committee on Power that it is prepared to terminate agreements with Independent Power Producers (IPPs) if the committee recommends such action. This statement came just before a meeting of the Senate Standing Committee on Power, which is primarily focused on IPPs. The Senate committee’s chairman believes that the coexistence of Pakistan and IPPs is no longer viable. The debate on IPP agreements has intensified amid rising electricity prices, substantial capacity payments, escalating circular debt, and increased solarization due to load…

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NEPRA Approves Government’s Uniform Tariff Hike for Discos and KE

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NEPRA-KE

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved the federal government’s proposed uniform Schedule of Tariffs (SoTs) for distribution companies (Discos) and K-Electric (KE), leading to a uniform base tariff increase of up to Rs7.12 per unit. This adjustment raises the tariff from Rs29.78 per unit in FY 2023-24 to Rs35.50 per unit for 2024-25, aligning with the International Monetary Fund (IMF) deadlines. This tariff increase is based on the federal government’s motion and subsequent addendum, exempting protected and non-protected domestic consumers using 200 units monthly for three…

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Finance Minister Aurangzeb Optimistic About Securing $6bn IMF Deal This Month

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New-IMF

ISLAMABAD: Finance Minister Muhammad Aurangzeb expressed optimism on Thursday about finalizing a $6 billion Extended Fund Facility (EFF) deal with the International Monetary Fund (IMF) within this month, having completed almost all prior actions ahead of time. Additionally, he mentioned reaching an agreement in principle with all provinces over the agricultural income tax. The government plans to request the IMF to enhance the package with a climate resilience facility (CRF) once the EFF is secured. Aurangzeb discussed these developments after briefing the National Assembly’s Standing Committee on Finance & Revenue,…

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A Wake-Up Call: Ensuring LPG Safety Amid Rising Usage

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New-Project

Islamabad, July 11, 2024– In response to Pakistan’s increasing reliance on LPG due to natural gas shortages, bans on new connections, and soaring gas tariffs, the Oil and Gas Regulatory Authority (OGRA) has organised a national seminar on “Safe Use of LPG – ‘Zero’ Fatal Accident.” The event was held at OGRA’s head office in Islamabad to address the need for enhanced safety measures. The seminar was graced by senior officials from the Petroleum Division, Islamabad Police, Motorways Police, Civil Defense, and CEOs of leading LPG sector companies. OGRA Chairman…

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GOVERNMENT URGED TO LET INDUSTRY BUY POWER FROM GENERATOR

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Chinese-power

KARACHI: The country’s leading industrial chambers and associations have called for the urgent implementation of the Competitive Trading Bilateral Contract Market (CTBCM) regime, which would enable bulk power consumers to purchase electricity directly from generators, bypassing the government. The demand arose during a conference jointly organised on Tuesday by Renewables First and Pakistan Environment Trust, two prominent voices in Pakistan’s energy and environment sectors. The conference featured discussions from prominent chambers and associations, including Zubair Motiwala, CEO of the Trade Development Authority of Pakistan; Tanveer Ahmed Barry, vice president of…

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