Author: Admin

India to be third-largest economy by 2030: S&P

Admin
expects-India

BENGALURU: India will remain the fastest-growing major economy for at least the next three years, setting it on course to become the world’s third-largest economy by 2030, S&P Global Ratings said in a report. S&P expects India, currently the world’s fifth-largest economy, to grow at 6.4 per cent this fiscal year and estimates growth will pick up to 7pc by FY27. In contrast, it expects China’s growth to slow to 4.6pc by 2026 from an estimated 5.4pc this year. India’s gross domestic product (GDP) grew a bigger-than-expected 7.6pc in the…

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Govt freezes monetised cost of free units of electricity

Admin
power-tariff

ISLAMABAD: The power division has notified a freeze on monetised cost of free electricity units to all the senior employees of power companies and the Water and Po­­w­er Development Authority (Wapda) at the existing level for future. In a notification issued here on Tuesday, the power division said the federal cabinet had approved monetisation of free electricity units admissible to the employees of Wapda, ex-Wapda companies, including distribution companies (Discos), generation companies (Gencos), National Transmission and Dispatch Company (NTDC) and Power Information Technology Company (PITC). It said the cabinet had…

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Pakistani, Kyrgyz, Tajik Energy Ministers meet in Dubai to review progress on CASA-1000 project

Admin
Energy-Ministers

On the sidelines of the COP 28 Climate Conference in Dubai, the Ministers of Energy of the Kyrgyz Republic, the Islamic Republic of Pakistan, and Republic of Tajikistan met to review progress of the $1.2 billion CASA-1000 Regional Power Transmission and Trade Project. The works in Pakistan, Kyrgyz Republic and Tajikistan sides went well and they demonstrate their collective support for completion of the project, they have reaffirmed their commitment to the project and continue the support for this green energy regional connectivity project and provide relevant proposals for accelerating…

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Nepra approves over Rs3 per unit hike in electricity price

Admin
KE’S- 7-YEAR- INVESTMENT-ROADMAP

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) Tuesday approved a Rs3.07 per unit increase in electricity prices, applicable to all power distribution companies. In a notification, the regulator said: “The […] adjustment shall be shown separately in the consumers’ bills on the basis of units billed to the consumers in the month of October 2023 in the billing month of December 2023.” Nepra has notified the increase on account of variations in fuel charges, the notification mentioned, in a move that will impact millions of the electricity distribution companies’…

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Capacity chargesstand at massive Rs2.3tr

Admin
Chinese-power

ISLAMABAD: Pakistan’s crippling power sector is faced with persistent difficulties on account of capacity charges of Rs2.3 trillion, increased reliance on foreign-funded and uncompetitive imported fuel, and inflated billings of Rs100 billion from voiceless consumers. “The capacity charges of Rs2.3 trillion, mainly because of the depreciated exchange rate, have become one of the major problems, and the solution lies in increasing the tax-to-GDP ratio from nine to 18 percent to finance the funding of power projects from our resources. The imported coal needs to be replaced with the domestic coal,”…

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