Day: September 4, 2024

Historic Consortium Agreement Signed for Machike-Thalian-Taru Jabba White Oil Pipeline Project

Admin
Oil-Pipeline

In a significant development for Pakistan’s energy infrastructure, the signing ceremony of Consortium Agreement between the Stakeholders for Machike-Thallian-Tarujabba White Oil Pipeline Project has been held on September 4,2024 at SIFC Secretariat, PM Office. The ceremony was witnessed by Federal Minister for Petroleum Dr. Musadik Malik , DG Special Investment Facilitation Council (SIFC) Major General Asad Rehman and Chairman OGRA Masroor Khan. The heads of consortium entities i.e. MD Pakistan State Oil (PSO) Syed Muhammad Taha, DG Frontier Works Organization (FWO) Major General Abdul Sami, signed the historical Consortium Agreement.…

Read More

Privatisation Crucial for Reforming DISCOs: Experts Advocate KE Model for Better Governance

Admin
Power-sector

ISLAMABAD: Energy experts are calling for the privatisation of Pakistan’s electricity distribution companies (DISCOs) as a vital step toward their reform. During a consultation organized by the Parliamentary Forum on Energy and Economy, stakeholders discussed the future of DISCOs, emphasizing the need for improved governance and efficiency. National Assembly Speaker Ayaz Sadiq highlighted the challenges posed by high power tariffs, noting that previous issues with loadshedding have hindered investment and exacerbated inefficiencies in the energy sector. Shaheera Tahir from PRIED recommended using K-Electric (KE) as a blueprint to enhance accessibility…

Read More

Significant Gas Reserves Discovered in North Waziristan: Shewa-2 Well to Boost Domestic Production by Over 3%

Admin
Mari-Petroleum

KARACHI: Pakistan has made a major breakthrough in its energy sector with the discovery of substantial gas reserves estimated at 351.2 billion cubic feet (BCF) in the Shewa fields of North Waziristan. This new find is expected to contribute 70 million cubic feet per day (mmcfd) to the national grid, increasing the country’s domestic gas production by over 3% daily and reducing reliance on costly fuel imports. According to Mari Petroleum‘s 2024 Annual Report, the Shewa-2 well will begin injecting gas into the system following the completion of a new…

Read More

NEPRA Restricts IPP Contract Extension Debate, Citing Inappropriate Forum

Admin
KE’S- 7-YEAR- INVESTMENT-ROADMAP

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) Chairman on Tuesday barred participants from discussing the renewal of independent power producers’ (IPPs) contracts during a public hearing, stating that it was not the appropriate forum for such a debate. During the hearing, interveners raised concerns about the capacity payments charged by IPPs and called for a forensic audit of their operations. The Chairman, however, redirected the focus away from contract renewals, while the businessmen running the IPPs faced criticism for inefficiencies that allegedly led to a multibillion-rupee burden on consumers…

Read More

Aurangzeb Vows Economic Stability Through IMF Deal and Tax Reforms

Admin
Muhammad-Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb reaffirmed on Tuesday that Pakistan is on the right track to achieving macroeconomic stability, emphasizing the importance of securing external financing to finalize the $7 billion IMF bailout package. He stressed the need for structural reforms, warning provincial governments against populist measures like energy subsidies. In a televised address, Aurangzeb highlighted significant economic progress, including a drop in inflation from 38% to single digits and a boost in foreign exchange reserves. He called for a crackdown on tax evasion, insisting on increased tax compliance from…

Read More