Month: July 2024

Nepra Urges Government to Reform Power Generation Contracts

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KE’S- 7-YEAR- INVESTMENT-ROADMAP

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has called on the government to rectify power generation contracts to provide substantial relief amidst public outcry over a significant tariff hike of up to Rs7.12 per unit. During a public hearing, Nepra announced an investigation into last month’s overbilling by distribution companies due to changes in the meter reading mechanism to ‘pro rata’ adjustment. Representatives from the power division claimed that the average tariff for the current fiscal year would be lower than the previous year due to fewer quarterly adjustments…

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Ogra Permits Parco to Export 50,000 Tonnes of Furnace Oil

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OGRA

KARACHI: The Oil & Gas Regulatory Authority (Ogra) has granted Pak Arab Refinery Limited (Parco) permission to export 50,000 metric tonnes (MT) of furnace oil for July in the current fiscal year, according to an Ogra statement. Parco, which currently holds 93,000 MT of fuel oil—approximately half of the total 170,000 MT reserves across refineries—sought Ogra’s approval to facilitate the export. Furnace oil exports have surged to unprecedented levels, with the country exporting over 800,000 MT in the recently concluded financial year, marking a historic high. Industry insiders attribute this…

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Suki Kinari Hydropower Project to Start Generation by November

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Karot-Hydropower

ISLAMABAD: The country’s hydropower generation is set to increase with the commencement of the 884 MW Suki Kinari Hydropower Project in November 2024. This announcement was made by Shah Jahan Mirza, Managing Director of the Private Power and Infrastructure Board (PPIB), during a ceremony organized by CEEC-NEPC-II, a Chinese state-owned company and EPC contractor. The event celebrated the successful completion of the 500kV Suki Kinari Transmission Line Project. The ceremony was attended by prominent government officials and stakeholders, including representatives from NTDC, NESPAK, MKEC, and their subcontractors CPM, NHC, AEL,…

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PM Announces 3 Month Relief for Lifeline Electricity Consumers

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Shahbaz-Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif announced a three-month relief package for lifeline electricity consumers whose monthly consumption remains below 200 units. The state broadcaster PTV News posted on X that the government will offer a Rs50 billion discount to these consumers in July, August, and September, benefiting 25 million consumers—94% of the country’s domestic electricity users. During a press conference in Islamabad, PM Shehbaz detailed that the relief package will provide a concession of up to Rs7 per unit for around 25 million domestic consumers falling in the protected category.…

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Industry Leaders Urge Govt to Enable Direct Power Purchase from Generators

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power-sector

KARACHI: Prominent industrial chambers and associations have called for the immediate implementation of the Competitive Trading Bilateral Contract Market (CTBCM) regime, allowing bulk power consumers to directly purchase electricity from generators, thereby bypassing the government. This demand was highlighted during a conference organized jointly by Renewables First and the Pakistan Environment Trust on Tuesday. The event featured discussions from key industry figures, including Zubair Motiwala, CEO of the Trade Development Authority of Pakistan; Tanveer Ahmed Barry, Vice President of the Karachi Chamber of Commerce and Industry; Johar Ali Qandhari, President…

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