Month: August 2024

Former Minister Criticizes Sharp Rise in Power Tariffs

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electricity-tariffs

Dr. Gohar Ejaz, former caretaker commerce minister, has expressed deep concerns over the sharp increase in electricity tariffs, questioning the significant disparity between the production cost and the charges billed to consumers. In a recent tweet, Dr. Ejaz revealed that the production cost of electricity in July was only Rs. 9.03 per unit, yet consumers are being charged rates as high as Rs. 80 per unit. He noted that in July, Pakistan’s total average electricity generation was 20,000 megawatts, with 35%—or 7,000 megawatts—generated from cost-effective hydropower sources. Dr. Ejaz attributed…

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Power Subsidy in Punjab Raises Concerns Over IMF Scrutiny

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IMF-board

The Punjab government’s recent decision to provide a Rs. 14 per unit subsidy on electricity bills for consumers using 201 to 500 units per month has sparked concerns about its sustainability and potential scrutiny from the International Monetary Fund (IMF). This relief measure, amounting to Rs. 45 billion, is intended to ease the financial burden on consumers during the peak summer months but is set to expire after September. While experts view the move as a positive step to help middle-class households struggling with high electricity bills, questions remain about…

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PM Vows to Tackle Corruption in Power Sector, Orders Crackdown on Electricity Theft

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Power-Projects

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday issued strict directives to combat corruption within the power sector, particularly targeting dishonest practices in distribution companies (Discos). During a high-level meeting to review the power ministry’s performance, the Prime Minister reaffirmed his government’s commitment to curbing electricity theft, reducing line losses, and enhancing the power distribution system nationwide. Highlighting recent efforts to bolster transparency, PM Shehbaz noted the appointment of new board chairpersons and members in five distribution companies through a transparent selection process. He expressed optimism that these changes would lead…

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Oil prices ease on China demand fears, focus on Mideast talks

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Oil-prices

TOKYO, Aug 19 (Reuters) – Oil prices eased in early Asian trading on Monday as fears of weaker demand in top oil importer China weighed on market sentiment while investors focus on the progress of ceasefire talks in the Middle East, which could reduce supply risks. Brent crude futures dropped 13 cents, or 0.2%, to $79.55 per barrel by 0032 GMT. U.S. West Texas Intermediate crude futures slid 13 cents, or 0.2%, to $76.52 a barrel. Both benchmarks fell nearly 2% last Friday as investors tempered expectations of demand growth from China,…

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PPIB Set to Extend LoIs for Three Solar PV Projects by 12 Months

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solar-panel

ISLAMABAD: The Private Power and Infrastructure Board (PPIB) is preparing to extend Letters of Intent (LoIs) for 12 months for three category-III solar PV projects. The decision was made during a recent Projects Committee meeting, chaired by the Additional Secretary of the Planning Division. The LoIs, initially issued to RE Solar I (Pvt) Limited, RE Solar II (Pvt) Limited, and Siddiquesons Solar Limited, are set to be extended due to the ongoing competitive bidding process required for these projects. Despite not being included in the draft IGCEP 2024, the extensions…

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