Day: August 21, 2024

Gas Tariff to Remain Unchanged for Three Months: Musadik Malik

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musadik-malik

ISLAMABAD: Minister for Petroleum Musadik Malik announced on Tuesday that the current gas tariff will stay unchanged for the next three months, covering the crucial winter period. Speaking at a press conference, the minister emphasized that this decision is part of the government’s strategy to ease the financial burden on citizens, assuring that no tariff hikes are planned. He added that any future relief measures would be implemented in collaboration with all provincial governments. Malik also highlighted the Punjab government’s recent relief of Rs14 per unit for electricity consumers using…

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Punjab Raises Concerns Over Proposed LPG Policy Incentives

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lpg

ISLAMABAD: The Punjab government has expressed reservations about the proposed incentives in Pakistan’s LPG Policy 2024, citing potential impacts on its share of federal tax revenues. Sources revealed that Punjab has requested a detailed report from the federal government on the financial implications of the proposed tax incentives within the new LPG policy. The Shehbaz Sharif-led administration has revived efforts to implement the policy, which had previously stalled during the caretaker government’s tenure. The Energy Department of Punjab has specifically sought clarity on how the fiscal measures and concessions outlined…

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SkyElectric Set to Enter Japanese Solar Market

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solar-energy

ISLAMABAD: SkyElectric, a local firm, has successfully completed the initial phase of the Japan Electrical Safety and Environment Technology Laboratories (JET) testing programme, positioning itself as the first Pakistani company ready to enter the Japanese solar market. Co-founder and CEO Amin Sukhera hailed the accomplishment as a significant testament to SkyElectric’s technical excellence and dedication to meeting global standards. “The completion of the first phase of JET is a monumental achievement, which underscores the quality and reliability of our products,” Sukhera stated.

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Kohala Hydropower Project Revived After Three-Year Hiatus

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Hydropower

ISLAMABAD: Pakistan has decided to revive the stalled 1,124MW Kohala Hydropower Project (KHPP) after a three-year delay, following an agreement with Chinese stakeholders, as confirmed by sources within the Planning Commission. The project had been on hold due to China Export and Credit Insurance Corporation (Sinosure) withholding insurance coverage, citing unpaid dues of over Rs550 billion owed by Pakistani power companies to Chinese independent power producers (IPPs). Additional delays were caused by changes in land acquisition laws and environmental regulations by the Azad Kashmir government. Earlier this year, the Chinese…

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Privatization Process for Three Discos Initiated

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power-gride

ISLAMABAD: The privatization process for three major electricity distribution companies (Discos) officially commenced on Tuesday following a pivotal meeting co-chaired by Privatization Minister Abdul Aleem Khan and Power Minister Sardar Awais Ahmad Khan Leghari. The Privatisation Commission has called for technical and financial proposals to appoint financial advisers for the privatization of Islamabad Electric Supply Company (Iesco), Gujranwala Electric Power Company (Gepco), and Faisalabad Electric Supply Company (Fesco). Minister Aleem emphasized that the divestment of these Discos will occur in phased stages, ensuring transparency and adherence to technical standards throughout…

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