Day: September 13, 2024

PPIB Facilitates Landmark Achievement: USD 1.7 Billion Suki Kinari Hydropower Project Completes Reliability Run Test

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The Private Power & Infrastructure Board (PPIB), as a one-window facilitator for private investment in the power sector on behalf of the Government of Pakistan, is thrilled to announce the successful commissioning of the 884 MW Suki Kinari Hydropower Project under the China Pakistan Economic Corridor – CPEC (CPEC). This milestone achievement represents a significant investment of USD 1.7 Billion.on behalf government of Pakistan MD PPIB Shah Jahan Mirza saysWe extend warm felicitations to the Chinese sponsors (Energy China), the Governments of China and Pakistan, Chinese financial institutions, Pakistani organizations,…

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Inauguration Ceremony of IEEEP Fair 2024

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IEEEP-2024

The Inauguration Ceremony of IEEEP Fair 2024, organized by Badr Expo, was held on September 10, with great fanfare. Minister Energy, Planning, and Development, Syed Nasir Hussain Shah graced the occasion with his presence.The event witnessed excellent participation from both local and foreign entities, fostering great collaborations. The insightful conference and enlightening exhibition aimed to promote Pakistan’s growth in the electrical and electronics engineering sector. . Kudos to the organizers and participants for making IEEEP Fair 2024 a memorable and impactful event!Energy Update Magazine was the media partner of this…

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Tarbela Dam Celebrates 50 Years of Vital Contributions to Pakistan’s Agriculture and Clean Energy

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dam-tarbela

ISLAMABAD: Tarbela Dam celebrates its 50th anniversary this year, commemorating five decades of crucial contributions to Pakistan’s agriculture, flood control, and clean energy generation. Completed in 1974, the dam has significantly bolstered the national economy by releasing 406 million acre-feet (MAF) of water for irrigation and generating over 590 billion units of eco-friendly electricity for the grid. As the world’s largest earth and rock-fill dam upon completion, Tarbela boasts a current installed power capacity of 4,888 MW, with ongoing expansions set to increase capacity to 6,418 MW. Despite a reduction…

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DISCOs Suffer 16% Power Losses Amid Widespread Electricity Theft in FY 2023-24

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power-gride

ISLAMABAD: The National Assembly was informed on Thursday that Distribution Companies (DISCOs) across Pakistan recorded 16% electricity losses during the fiscal year 2023-24, amidst 84,362 reported incidents of power theft nationwide. Authorities arrested 291 individuals and dismissed 47 DISCO employees for their involvement in facilitating the theft. According to a written response presented during the Question Hour, DISCOs registered 7,068 cases of electricity theft and collected arrears amounting to Rs885.4 billion. In addition, the National Assembly was briefed on the three-year loss trends for K-Electric and Hyderabad Electric Supply Company…

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Pakistan Secures IMF Deal for $7 Billion Loan, Plans Stricter Tax Measures on Existing Filers

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pak-imf

ISLAMABAD: Pakistan announced on Thursday that it has resolved all outstanding issues with the International Monetary Fund (IMF), paving the way for a $7 billion loan approval later this month. Finance Minister Muhammad Aurangzeb confirmed that the IMF board is set to finalize the deal by September 25, 2024, marking the start of a 37-month program aimed at stabilizing the country’s economy. In parallel, the government is preparing new tax measures to boost revenue collection, focusing on existing income tax filers. The Federal Board of Revenue (FBR) is set to…

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