Year: 2024

Sindh Energy Minister Briefs French Envoy on Renewable Energy Projects

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Renewable-Capacity

KARACHI: Sindh Minister for Energy, Development, and Planning, Syed Nasir Hussain Shah, met with French Ambassador Nicolas Galey and his delegation at the Energy Department office on Thursday. During the meeting, key discussions were held on alternative energy projects and mutual cooperation. Minister Nasir Hussain Shah, along with the Energy Department Secretary, provided an overview of various renewable energy initiatives in Sindh, highlighting the province’s rich resources for domestic and international investment. He emphasized Sindh’s vast Thar coal reserves, which have been validated by global institutes as suitable for gasification.…

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Finance Ministry Recommends Billing AJ&K at Basket Rate for Power Supply

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Power-sector

ISLAMABAD: The Ministry of Finance has proposed that electricity supply to Azad Jammu and Kashmir (AJ&K) should be billed directly to the Government of AJ&K (GoAJ&K) at the prevalent basket price, aligning it with the billing system used for K-Electric and other distribution companies (Discos), according to well-informed sources speaking to Business Recorder. This recommendation was made in response to a proposal from the Power Division, which suggested that electricity supplied to AJ&K should be charged at the National Average Power Purchase Price (NAPP) for Discos, as determined by NEPRA,…

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Power Demand Drops 17% in August as Consumers Shift to Solar

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solar-panels

ISLAMABAD: Electricity demand from Pakistan’s national grid plummeted by 17.4% in August 2024, reaching 13,179 gigawatt-hours (GWh) compared to the same month last year. The decline is largely driven by surging electricity prices, lower industrial consumption, and milder temperatures following the heatwave. The reduced grid consumption, coupled with the rising adoption of low-cost rooftop solar systems in residential areas, has resulted in lower power generation. In the first two months of FY 2024-25, power production fell by nearly 9% to 28,059 GWh. Fuel costs for power generation also dropped by…

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Minority Shareholders Criticize Shell Deal with Saudi Wafi Energy

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shell-pakistan

ISLAMABAD: Minority shareholders of Shell Pakistan have expressed outrage over the recent sale of the company’s majority shares to Saudi Wafi Energy, alleging significant financial losses and unfair treatment. The shareholders claim that around 77.4% of Shell Pakistan shares were sold at a price far below two competing bids, without proper price evaluation. In formal complaints to Shell Pakistan and the Securities and Exchange Commission of Pakistan (SECP), shareholders argued that the deal—valued at $97 million—set the price at Rs118 per share, while other consortia offered bids as high as…

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Pakistan, Russia Sign MoU to Strengthen Cooperation in Trade, Energy, and Defence

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Pak-Russia

ISLAMABAD: In a move to bolster bilateral relations, Pakistan and Russia signed a Memorandum of Understanding (MoU) on Thursday, paving the way for enhanced cooperation in key sectors including trade, energy, connectivity, and defence. The MoU was formalized by Russian Deputy Prime Minister Alexei Overchuk and Pakistan’s Deputy Prime Minister Ishaq Dar, following a high-level meeting between Overchuk and Prime Minister Shehbaz Sharif. During the talks, both sides underscored the importance of expanding their partnership across various domains. Prime Minister Sharif reiterated that strengthening ties with Moscow is a priority…

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