Author: Admin

Q2 QTA: Discos seek hike of Rs4/ unit

Admin
power-gride

ISLAMABAD: Power Distribution Companies (Discos) have sought positive adjustment of up to Rs. 4 per unit to recover additional amount of Rs 81.5 billion from consumers for second quarter (Oct-December) of FY 2023-40 under Quarterly Tariff Adjustment (QTA) mechanism. National Electric Power Regulatory Authority (Nepra) is scheduled to conduct a public hearing on February 14, 2024 on the petition of Discos filed by Central Power Purchasing Agency Guaranteed (CPPA-G). Of the total requested adjustment of 81.498 Rs 75. 139 billion is on account of capacity charges to be paid to…

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‘Innovative’ plan set to reduce circular debt

Admin
Power-generation

ISLAMABAD: Caretaker Minister for Power and Petroleum, Muhammad Ali, has set an extremely ambitious circular debt reduction plan amounting to Rs 1,268 billion for caretaker Finance Minister Dr Shamshad Akhtar for onward sharing with the International Monetary Fund (IMF) for its concurrence, well informed sources in Finance Ministry told Business Recorder. “Concurrence from IMF shall be required highlighting a rare opportunity to settle energy sector CD stock of Rs 1,268 billion using funding from the government of Pakistan (GoP) for one to two days. The proposal is not contrary in any…

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Govt seeks $30b for gas production

Admin
GOVT-gas

Aims to rein in swelling energy import bill that will double in seven years ISLAMABAD: Pakistan on Tuesday made a pitch for a $30 billion foreign and local investment in gas production aimed at puncturing a ballooning energy import bill projected to nearly double to $31 billion in seven years in a business-as-usual scenario. The appeal was made to foreign investors in presence of interim Prime Minister Anwaarul Haq Kakar and Chief of the Army Staff (COAS) General Asim Munir. If materialised, it will be the biggest investment in the…

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Power consumers to brace for another surge in bills

Admin
power-subsidy

DISCOs seek to recover staggering Rs81.5b via quarterly adjustments for second quarter FY2023-24 ISLAMABAD: Consumers of electricity in Pakistan are on the verge of another financial shock as Power Distribution Companies (DISCOs) seek approval from the National Electric Power Regulatory Authority (NEPRA) to recover a staggering Rs81.5 billion through quarterly adjustments for the second quarter of the financial year 2023-24 (October to December 2023). The burden primarily stems from capacity charges for power plants that remained idle during this period, and this additional financial strain will be passed on to…

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Petroleum Conference 2024 ends with call to explore further oil and gas reserves in Pakistan

Admin
anwar

Caretaker Prime Minister Anwaar-ul-Haq Kakar attended the Petroleum Conference 2024 as a Chief Guest today in Islamabad. Chief of Army Staff, General Syed Asim Munir, NI (M) was the guest of honour at the Conference. Provincial Chief Ministers, Minister for Energy, Secretary Petroleum, Government representatives, policy makers, foreign and domestic investors from the Energy and Petroleum (E&P) sector and international delegates also attended the conference. While addressing the Conference, the Prime Minister said that Pakistan was blessed with abundant natural resources. He emphasized the need for concerted efforts to explore…

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