Year: 2024

Government Expands Probe into IPPs Amid Resistance from Power Producers

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Power-generation

ISLAMABAD: The government has intensified its investigation into the operations of Independent Power Producers (IPPs) as some plant owners resist efforts to renegotiate their contracts. These producers argue they are merely fulfilling the terms of their agreements. The probe is focused on reducing capacity payments, a significant financial burden that the government is aiming to alleviate. Background discussions with officials from the power sector reveal that the investigators are scrutinizing data and documents collected from various IPP offices and plants. Reports suggest that several IPP owners are reluctant to terminate…

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Afghanistan Begins Work on Long-Delayed TAPI Gas Pipeline

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TAPI-gas

KABUL: Afghanistan announced the commencement of work on its segment of the $10 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, as officials gathered at a border ceremony in Turkmenistan on Wednesday. The project, which has faced repeated delays due to security concerns in Afghanistan, is expected to boost regional economies by delivering 33 billion cubic meters of natural gas annually. Afghan Prime Minister Hassan Akhund and Turkmen President Serdar Berdimuhamedow praised the pipeline’s potential to benefit the entire region. Afghanistan is set to receive 16% of the gas while Pakistan and India…

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ECC Prioritizes Gas Supply for Industry, Reviews Key Economic Proposals

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Oil-and-Gas

ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet, chaired by Finance Minister Muhammad Aurangzeb, has revised the gas supply priority list, placing industrial processes on par with the domestic and commercial sectors. The decision aims to prioritize gas for industries while lowering the priority for captive power users and the CNG sector. The Ministry of Energy had submitted the proposal to the ECC. The committee also addressed the long-standing arrears of wheat subsidy schemes from 2015-16, approving Rs238.42 million for clearance, and recommended finding funds through budgetary resources.…

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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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