Author: Admin

Power export beyond borders

Admin

The menace of circular debt has today become one of the gravest threats to Pakistan’s sovereignty and survival, rivaling the scourges of terrorism and insurgency that have long plagued the state. The circular debt in the power sector has already surpassed five trillion rupees, creating a financial vortex that cripples the government, suffocates economic growth, and burdens citizens with unaffordable tariffs. Unless Pakistan begins to think imaginatively, innovatively, and courageously, this spiraling debt will continue to erode the very foundations of the national economy. One solution, which is both viable…

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Wafi Energy Pakistan explores opportunities in oil marketing sector

Admin
Wafi Energy

Wafi Energy Pakistan Limited, formerly Shell Pakistan Limited, announced that its board has authorised management to explore potential investment and acquisition opportunities in the country’s oil marketing sector. The listed OMC disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday. “At a meeting of the Board of Directors of Wafi Energy Pakistan Limited held at the registered office of the company on Thursday, 21 August, the Board has in-principal authorized the management to pursue potential investment/acquisition opportunities in the oil marketing sector, including for the…

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Wafi Energy Pakistan to Explore Investments in Oil Marketing Sector

Admin
wafi-station

KARACHI: Wafi Energy Pakistan Limited, formerly Shell Pakistan Limited, has announced that its board has authorised the management to explore potential investment and acquisition opportunities in the country’s oil marketing sector. The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Friday, stating that the board, in its meeting held on August 21, granted in-principle approval for management to assess the feasibility and viability of such opportunities. Wafi Energy Pakistan, a publicly listed company incorporated in Pakistan, is majority-owned by Abu Dhabi-based Wafi Energy Holding Limited.…

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Discos Propose Rs23bn Refund for July as Power Costs Decline

Admin
Power-Tariff

ISLAMABAD: Public sector power distribution companies (Discos) have sought approval from the National Electric Power Regulatory Authority (Nepra) to refund Rs1.69 per unit to consumers, amounting to around Rs23 billion, on account of lower fuel costs in July. The adjustment, if approved, will be reflected in electricity bills for August. According to the Central Power Purchasing Agency (CPPA), the decline in fuel costs was largely driven by improved hydrological conditions, with hydropower contributing 40% of generation in July compared to 36% last year. Overall power consumption, however, fell 5% year-on-year…

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ADB Approves $410m Financing Package for Barrick-Operated Reko Diq Project

Admin
Reko-Diq

ISLAMABAD: The Asian Development Bank (ADB) will extend a $410 million financing package to support the development of Pakistan’s Reko Diq copper and gold mine, one of the world’s largest untapped mineral deposits, operated by Barrick Gold. According to sources, the financing package includes $300 million in loans to Barrick and a $110 million guarantee for the Government of Pakistan. The $6.6 billion project, located in Balochistan, is jointly owned — 50 percent by Barrick and the remaining stake by the federal and provincial governments. The Reko Diq mine is…

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