Month: August 2024

Senate Committee Recommends Abolishing Industry and Energy Ministries, Advocates Devolution to Provinces

Admin
Petroleum

ISLAMABAD: The Senate Functional Committee on Devolution unanimously agreed on Monday to recommend the abolition of the Ministries of Industries and Production and Energy (Petroleum Division), proposing that their responsibilities be devolved to the provinces. Chaired by Senator Zarqa Suharwardy, the committee suggested that further recommendations regarding the distribution of these responsibilities to provinces or the Council of Common Interests (CCI) would be made in subsequent sessions. During the meeting, concerns were raised about the Ministry of Industries and Production, particularly regarding the hiring of 2,200 employees for the closed…

Read More

Senate Committee Demands Regional Tariff Comparison for IPP Agreements

Admin
power-subsidy

ISLAMABAD: The Senate Standing Committee on Energy has directed the Power Division to submit original agreements with Independent Power Producers (IPPs) and a detailed comparative analysis of similar contracts in other countries. This follows a commitment made by the Power Division last week to share these agreements and provide a comprehensive briefing. The committee, chaired by Mohsin Aziz, is set to meet on August 30 to discuss the matter further. The Power Division, led by Power Secretary Dr. Fakhre Alam Irfan, has yet to finalize whether the briefing will be…

Read More

Tax Breaks for IPPs Reach Rs1.2 Trillion Since 1990, Sparking Concerns

Admin
power-energy

ISLAMABAD: Amid rising tax pressures on the general public, it has been revealed that Independent Power Producers (IPPs) have benefited from substantial tax exemptions amounting to Rs1.217 trillion from the mid-1990s through the 2023-24 fiscal year, according to official sources. These tax breaks, in addition to capacity payments estimated to reach Rs2.091 trillion this fiscal year, have sparked debate. The IPPs, owned by about 40 influential families with connections to political power, enjoy corporate tax exemptions on profits and gains from electric power plants established since July 1, 1988. Over…

Read More

Govt. appealed to announce Rs14 reduction in electricity tariffs for Sindh also

Admin
electricity-tariffs

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while referring to recent relief of Rs14 per unit announced for Punjab province only, urged the government to give a similar relief to Sindh also as the public and business community here are also going through the toughest time of their lives due to unbearably high and extremely torturous electricity bills.“The Karachi Chamber vociferously appeals President Asif Ali Zardari, Prime Minister Shehbaz Sharif, Chief Minister Murad Ali Shah and Federal Minister for Energy Awais Laghari to immediately announce…

Read More

Government Poised to Redefine Load-Shedding Amid Revenue-Based Concerns

Admin
load-shedding

ISLAMABAD: The government is preparing to redefine electricity load-shedding by amending the Nepra Act and Performance Standards, aiming to legalize revenue-based load-shedding across the country under the guise of Aggregate Technical and Commercial (AT&C) losses. This move, long sought by the Power Division, risks depriving the poorest citizens of their fundamental right to electricity. The Power Division has cited increasing circular debt, massive line losses, low recovery rates, and electricity theft as key factors contributing to the sector’s financial instability. Revenue-based load-shedding is already implemented in areas with high line…

Read More