Month: September 2024

Liberty Power Proposes Renegotiation of Power Contract to Ease Electricity Costs

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Power-sector

KARACHI: In response to growing public and business sector demands to reduce high electricity costs and eliminate excessive capacity payments, Liberty Power, an independent power producer (IPP), has announced plans to renegotiate its contract with the federal government. Shaharyar Chisti, Chairman of Pak Asia Investment, Liberty Power’s parent company, revealed during a press conference on Wednesday that the company is ready to shift its return calculations from US dollars to local currency in an effort to lower electricity prices. Chisti emphasized the need for collective action among power producers to…

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Sindh Energy Ministry Extends Full Support to IEEEP Fair: A Hub for Innovation and Industry Collaboration

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IEEEP-2024

KARACHI: Sindh Minister for Energy, Syed Nasir Hussain Shah, expressed his department’s unwavering support for the 13th edition of the International Electrical Engineering and Electronics Products (IEEEP) Fair at the Karachi Expo Centre, during the inauguration ceremony on September 10. Organized by the IEEEP (Karachi Centre) in collaboration with Badar Expo Solutions, the three-day event, running from September 10-12, showcases over 285 national and international brands, with exhibitors from countries such as China, Poland, Malaysia, Brazil, Germany, and the Netherlands. Minister Shah underscored the significance of the event, stating, “We…

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Govt Faces Solar Challenge: Public Generating 3,000 MW Annually, Threatens Grid Reliance

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Solar-Project

ISLAMABAD: The government is facing a growing challenge as it has been revealed that the public is generating 250 MW of solar power each month, amounting to 3,000 MW annually, through off-grid solar installations. This trend could significantly reduce the reliance on the national grid, which supplies increasingly unaffordable electricity. As the shift towards independent solar energy continues, it is projected that within 5-6 years, the government may struggle to sell electricity from the national grid, exacerbating the current capacity payment crisis. The issue was flagged by a committee on…

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Inauguration of Suki Kinari Hydropower Project Likely to Be Postponed Until COD

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Suki-Kinari

ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has recommended postponing the inauguration of the 884 MW Suki Kinari Hydropower Project until the achievement of its Commercial Operation Date (COD), sources told Business Recorder. The project company reported that the Reliability Run Test (RRT), required under the Power Purchase Agreement, began on August 30, 2024. However, after nearly completing the 168-hour continuous test, one of the four power generation units tripped, halting the process. The test was restarted on September 6 and is expected to conclude by September 13. The…

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Punjab Withdraws Rs14 Power Subsidy for Islamabad, IMF Pressure Cited

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IMF-board

ISLAMABAD: The Punjab government has withdrawn the Rs14 per unit electricity subsidy for consumers in the Islamabad Capital Territory (ICT), effective immediately. The decision, reportedly influenced by International Monetary Fund (IMF) pressure, will result in higher electricity bills for residents of Islamabad and surrounding areas. The Islamabad Electricity Supply Company (IESCO) issued a notification confirming the discontinuation of the subsidy for the month of September. As a result, ICT consumers will now be billed according to the federal government’s revised electricity rates, which saw a hike of up to 51%…

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