Month: July 2024

100% Tax Credit for Sindh Coal Miners Supplying Power Plants

Admin
FBR-Tex

ISLAMABAD: The Federal Board of Revenue (FBR) has granted a 100 percent tax credit to coal mining projects in Sindh that exclusively supply coal to power generation projects within the province. This update is part of the amendments introduced in the Finance Act 2024, as detailed in the FBR’s income tax circular number 1 of 2024 issued on Monday. The amendment to Section 65F clarifies that this tax credit applies solely to income derived from coal mining operations in Sindh, intended exclusively for power generation projects. Other income sources are…

Read More

NEPRA Endorses Formation of Independent System and Market Operator (ISMO)

Admin
Nepra

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has endorsed the creation of an Independent System and Market Operator (ISMO) by merging the Central Power Purchasing Agency (CPPA-G) and the National Power Control Center (NPCC). This move is contingent on resolving certain issues to ensure smooth and independent operation, sources close to NEPRA’s Chairman informed Business Recorder. NEPRA’s support follows a July 5, 2024, letter from the Power Division regarding the operationalization of ISMO. The restructuring aligns with the National Electricity Policy, National Electricity Plan, and decisions by the Cabinet…

Read More

Power Sector Overhaul: Addressing Major Bottlenecks Underway

Admin
power-fleet

ISLAMABAD: The Power Division has initiated efforts to address 23 critical issues in Pakistan’s generation, transmission, and distribution systems, sources revealed to Business Recorder. These proposed reforms have been presented to the Prime Minister and the Special Investment Facilitation Council (SIFC). In generation, the focus areas include substituting imported fuel, optimizing fuel and capacity utilization, reducing the capacity payment burden, and privatization. Transmission improvements are targeting the North-South transmission capacity and governance enhancements. A significant concern is the power sector’s circular debt, which exceeds Rs 2.4 trillion, with only Rs…

Read More

Government Plans Feasibility Study for Power Export to China

Admin
power-sector

ISLAMABAD: The government has decided to conduct a feasibility study on exporting electricity to China, involving the Chinese firm M/s Three Gorges, according to sources from the Power Division. This decision was made during a meeting led by Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, to finalize strategies for the upcoming high-level visit to Russia. The meeting, which included discussions on various bilateral issues, emphasized the importance of enhancing connectivity and security for transport routes. The Ministry of Railways highlighted three key rail routes to improve trade links…

Read More

Miftah Ismail to File Petition Against K-Electric Over Rate Hikes

Admin
K-electric

KARACHI: Awaam Pakistan Party leader Miftah Ismail has announced his plan to file a petition against K-Electric, citing a 350% increase in electricity rates since 2015. Speaking at a protest outside K-Electric’s head office, Ismail criticized the government’s management of electricity tariffs, arguing that it places undue burden on ordinary citizens. He highlighted the Pakistan People’s Party’s unfulfilled promise of providing 300 free units of electricity, questioning the rationale behind such steep rate hikes. Ismail asserted that no one should receive free electricity if ordinary citizens do not, and expressed…

Read More