Day: July 19, 2025

SECMC, Meezan Bank Ink Islamic Financing Deal for Thar Coal Mine Expansion

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SECMC-Meezan

KARACHI, July 19: Sindh Engro Coal Mining Company (SECMC) and Meezan Bank have signed an Islamic Facility Agreement to finance Phase III expansion of the Thar Block II coal mine, aiming to increase coal production from 7.6 million tonnes per annum (MTPA) to 11.2 MTPA. The financing arrangement is led by Meezan Bank and includes a syndicate of United Bank Limited, Askari Bank Limited, Sindh Bank Limited, and Pakistan-China Investment Company Limited. SECMC, a public-private partnership backed by the Sindh government, began commercial operations in 2019 and scaled production to…

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Shakeel Ahmed Appointed as Member Finance of OGRA for Two-Year Term

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OGRA

ISLAMABAD, July 19: The federal government has appointed Shakeel Ahmed as Member Finance of the Oil and Gas Regulatory Authority (OGRA), effective immediately. His appointment, made under Section 3(8)(c) of the OGRA Ordinance, is on a contract basis for a period of two years. Shakeel Ahmed brings extensive industry experience, having previously served as Chief Manager Procurement at Sui Southern Gas Company (SSGC) and as Managing Director of Sui Southern LPG Limited. The decision follows a nine-month delay in filling the position. A panel of three candidates was shortlisted, with…

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CPPA-G Proposes Rs 0.65/kWh Refund Under June FCA, Citing Lower Generation Costs

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Power-sector

ISLAMABAD, July 19: The Central Power Purchasing Agency–Guaranteed (CPPA-G) has requested the National Electric Power Regulatory Authority (NEPRA) to approve a negative Fuel Charges Adjustment (FCA) of Rs 0.6541 per unit for June 2025, aiming to refund approximately Rs 8.7 billion to electricity consumers. NEPRA is scheduled to conduct a public hearing on July 30 to assess CPPA-G’s request and provide an opportunity for consumer representatives to present their views. According to CPPA-G’s data, total energy generation in June stood at 13,744 GWh at a cost of Rs 108.166 billion,…

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KP Joins Sindh in Opposing Discontinuation of Electricity Duty Collection by Discos

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kp-Project

ISLAMABAD, July 19: The Khyber Pakhtunkhwa (KP) government has formally opposed the federal government’s move to discontinue the collection of Electricity Duty (ED) through Distribution Companies (Discos), urging the Power Division to reconsider its decision in light of constitutional and legal frameworks. In a letter responding to Power Minister Sardar Awais Khan Leghari’s June 30 communication, KP Chief Minister Ali Amin Gandapur expressed strong reservations over what he termed a unilateral and unconstitutional decision made without consulting the provinces or seeking approval from the Council of Common Interests (CCI). Citing…

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NEPRA Issues Long-Pending Tariff Notifications for K-Electric Under MYT Regime

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Nepra-Price

ISLAMABAD, July 19: The National Electric Power Regulatory Authority (NEPRA) has issued long-pending notifications for K-Electric’s (KE) supply, distribution, and transmission tariffs for the 2023–24 to 2029–30 period under the Multi-Year Tariff (MYT) framework. The regulator clarified that the federal government’s pending review motion does not legally bar NEPRA from issuing these notifications. Amendments made to the NEPRA Act in 2021—amid delays and pressure from the IMF and World Bank—empowered NEPRA to notify tariffs directly if the government fails to act within the given timeframe. NEPRA stated that any future…

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