Author: Admin

9-cent tariff: Govt yet to cross several bridges?

Admin
Power-generation

ISLAMABAD: The government is yet to cross several bridges including the challenge of convincing the International Monetary Fund (IMF) before it can slash industrial tariff to cents 9/kWh, which would require further burdening all category of consumers, including vulnerable domestic consumers, well-informed sources told Business Recorder. According to the press release issued by the IMF dated 11 January 2024 after its Executive Board completed the First Review of the Stand-By Arrangement (SBA) for Pakistan, the program is focused on implementation of FY 24 budget to facilitate Pakistan’s needed fiscal adjustment, and…

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Side pact with coal-fired IPPs: ECC refuses to extend support to Power Division

Admin
cpec

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has reportedly refused to extend support to the Power Division to sign side agreement with other coal-fired IPPs except Port Qasim Electric Power company (PQEPCL), insisting that the case of Sahiwal coal power plant be submitted separately, well informed sources told Business Recorder. Sharing the details, sources said at a recent meeting of the ECC, Power Division briefed that the CPEC IPPs running on imported coal had been agitating on issues of capacity deductions and imposition of liquidated damages due to coal’s…

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KE expresses its ‘limitation’ towards implementing integration plan

Admin
k-electric

ISLAMABAD: K-Electric has expressed its limitation in implementing the approved integration plan as it is unable to provide feedback on the test-run report. Responding to the test-run report of the CPPA-G, K- Electric has requested separate deliberations with the CPPA-G and on KE integration plan by NEPRA as agreed by CPPA-G. The Cabinet Committee on Energy (CCoE) recently approved the report, which was also ratified by the Cabinet. PM says govt, KE to ensure smooth power supply to Karachi On May 31, 2022, NEPRA’s determination included: (i) grant of MO…

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Petrol, diesel likely to become cheaper by Rs10

Admin

ISLAMABAD: The petrol price is estimated to decline by about Rs9-10 per litre on Jan 15 for the next fortnight due to a combination of lower international prices, exchange rate gains and a decline in premium. High-speed diesel (HSD) is also expected to be cheaper by around Rs2 per litre. Informed sources said the prices of all petroleum products had declined in the international market over the past fortnight and the rupee had also gained against the US dollar while the premium on procurement of petrol had also come down.…

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Economy stable, but challenges persist: IMF

Admin
IMF-demand

WASHINGTON: The IMF Executive Board’s decision to disburse around $700 million to Pakistan reflects a positive review of the country’s economic reform programme. While economic activity has stabilised, challenges persist, contingent on the effective implementation of sound policies. Macroeconomic conditions have shown improvement, with a projected two per cent growth in FY24. The fiscal position strengthened in 1QFY24, achieving a primary surplus of 0.4pc of GDP, driven by strong revenues. Inflation, although elevated, is expected to decline with appropriately tight monetary policy to 18.5pc by end-June 2024. Gross reserves of…

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