Year: 2024

Senate Panel Raises Alarm Over Alleged Unlicensed Gas Sale in Badin-IV South Block

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Gas-Sale

ISLAMABAD: The Senate Standing Committee on Petroleum voiced serious concerns on Friday regarding the alleged sale of gas from the Badin-IV South Block in Sindh through an unlicensed third-party company. Chaired by Senator Umer Farooq, the committee convened at Parliament House and requested a comprehensive report on the matter in the next session. The Petroleum Division’s representatives shared that an inquiry had recommended suspending activities in the Badin-IV South Block due to suspected regulatory violations. Chairman Farooq emphasized the need for a detailed discussion and transparency in upcoming meetings. The…

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Punjab Embraces Green Growth with Local Solar Panel Manufacturing Deal

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Solar-Panel

LAHORE: Punjab’s push for green industrial expansion took a significant step as Provincial Minister for Industries, Commerce, and Investment Chaudhry Shafay Hussain announced a finalized agreement with a Chinese company to establish solar panel manufacturing in the province. Addressing the Lahore Chamber of Commerce and Industry (LCCI), Hussain emphasized Punjab’s focus on alternative energy to reduce production costs and support sustainable growth. Key figures from LCCI, including President Mian Abuzar Shad, highlighted Punjab’s contribution to Pakistan’s GDP, underscoring the importance of affordable energy solutions for the province’s industries. Minister Hussain…

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Govt Proposes New Payment Model for IPPs to Curb ‘Excessive Profits’

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Govt-Proposes

The government has introduced a new financial framework aimed at restructuring payments to 18 independent power producers (IPPs) by cutting down their capacity costs and recovering what it considers “excessive profits” accumulated over past years. This initiative involves renegotiating power purchase agreements with IPPs established under the 1994 and 2002 policies. The negotiations, expected to conclude shortly, are part of a broader power sector reform to reduce consumer electricity costs. The revised approach will transition IPPs from a “take-or-pay” to a “take-and-pay” model, where payments align more closely with actual…

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Ministry of Energy and Water Signs Agreement with Chinese Company

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china pakistan

The Ministry of Energy and Water announces the signing of an agreement with a Chinese company to invest in energy production projects from domestic resources in Afghanistan. Abdul Latif Mansoor, acting Minister of Energy and Water, urged the company not only to invest in energy production but also to support projects for energy transmission lines and the strengthening of distribution substations. Although Afghanistan has considerable energy resources, it has not yet achieved self-sufficiency in this field. Matiullah Abed, spokesperson for the Ministry of Energy and Water, said: “The acting Minister…

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Conversion of power plants to coal: NEA of China seeks to set up working group for talks

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ISLAMABAD: The National Energy Administration (NEA) of China is said to have shown willingness, in principal, to establish an ad hoc working group to facilitate discussion on conversion of three imported coal-fired power plants to local coal, well-informed sources in the PPIB told Business Recorder. This update was shared with the Power Division which is finalizing sectoral plan to support Government of Pakistan’s (GoP’s) effort to move out of the low growth trap. According to sources, Chinese side will be represented by officials from NEA’s department of International Cooperation, its Planning…

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