Month: August 2024

Nepra Increases Power Tariff by Rs2.56 per Unit Amid Rising Energy Costs

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NEPRA-KE

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has announced a power tariff increase of Rs2.56 per unit, resulting in an additional burden of over Rs33 billion on consumers’ electricity bills in August. This hike, revealed as part of the June fuel cost adjustment (FCA), will be reflected in the August billing cycle. Lifeline consumers and K-Electric users will be exempt from this increase. This marks the second consecutive hike, following a Rs3.33 per unit increase in May, which was collected from consumers in July. The Central Power Purchasing Agency…

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Mari Petroleum Achieves Record Profit of Rs77 Billion in FY24

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mari-petrolium

KARACHI: Mari Petroleum Company Ltd (MPCL) has reported its highest-ever earnings, posting a record profit of Rs77 billion for FY24, marking a 38% increase from Rs56 billion in FY23. The company declared a final cash dividend along with an interim dividend of Rs232 per share for FY24, reflecting a payout ratio of 40%, up from 35% in the previous year. Additionally, Mari announced a substantial bonus of 800% (eight shares for every one share held). Sunny Kumar of Topline Securities noted that MPCL’s net sales surged by 25% year-on-year to…

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World Bank Urges Balochistan to Tap Renewable Energy Potential for Economic Growth

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world-bank

ISLAMABAD: The World Bank has recommended that Balochistan capitalize on its vast renewable energy resources to generate surplus electricity, which could be exported to other provinces or internationally, thereby reducing its reliance on power imports. This proposal is outlined in the World Bank’s recently released “Balochistan Renewable Energy Development Study.” The study highlights that Balochistan possesses significant untapped potential for economically viable solar and wind energy. With photovoltaic (PV) potential ranging from 2,000 to 2,500 kWh/m², and areas with direct normal irradiation (DNI) of up to 2,500 kWh/m², the region…

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Conference on climate change, food security

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AWWA-2024

Fast conversion of farmlands near cities into housing societies gravely endangers Pakistan’s food security: Sindh Environment Minister Karachi: Sindh Environment Minister, Dost Muhammad Rahimoon, has said the fast diminishing farmlands near urban centres due to their conversion into gated housing societies has posed serious threats to Pakistan’s food security.The environment minister stated this while speaking as the chief guest at a conference on the nexus between climate change and threatened food security in the world organised by the National Forum for Environment and Health (NFEH).He said the floods of 2022,…

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