Author: Admin

Senate Panel Briefed: Talks with 16 IPPs Nearing Conclusion, Farmers Demand Lower Tariffs

Admin
New-IPPS

ISLAMABAD: Negotiations with 16 Independent Power Producers (IPPs) are expected to conclude by the end of January, following the termination of contracts with five IPPs, a senior Power Division official informed the Senate Standing Committee on National Food Security and Research on Wednesday. The termination of these agreements is projected to save Rs440 billion annually, with further benefits anticipated from ongoing discussions. A task force has also been established to minimize power generation costs. During the meeting chaired by Senator Syed Hussain Tariq, Kissan Ittehad President Khalid Mehmood Khokhar raised…

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Government to Establish ‘Minerals Division’ for National Development

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Minerals-Division

ISLAMABAD: The federal government has decided to establish a dedicated Minerals Division to accelerate the development of the country’s mineral sector, informed sources revealed. Prime Minister Shehbaz Sharif has formed an Inter-Provincial Committee (IPC) to oversee this initiative. Chaired by Federal Minister for Law and Justice Azam Nazir Tarar, the committee includes Federal Minister for Investment Bilal Azhar Kayani, secretaries from various ministries, representatives from Gilgit-Baltistan and Azad Jammu and Kashmir, and private-sector mineral experts. The committee will draft comprehensive Terms of Reference (ToRs) for the proposed Minerals Division, detailing…

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Nepra Questions Feasibility of Gepco’s Rs100bn Investment Plan Amid Privatization Drive

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New-NEPRA

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has raised concerns over the Gujranwala Electric Power Company’s (Gepco) ambitious Rs100 billion five-year investment plan, citing potential financial burdens on consumers and doubts about its feasibility. The investment plan, spanning FY2025-26 to FY2029-30, was discussed during a public hearing chaired by the Nepra chairman. The hearing comes as the government moves to privatize three major power distribution companies — Gepco, Islamabad Electric Supply Company (Iesco), and Faisalabad Electric Supply Company (Fesco) — by year-end. Nepra criticized Gepco’s financial stability, highlighting rising…

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Gas Theft in KP Reduced by 64% in FY24

Admin
Gas-SNGPL

PESHAWAR: Khyber Pakhtunkhwa’s southern region witnessed a significant reduction in gas theft and line losses, which dropped from Rs8.8 billion in FY20 to Rs3.17 billion in FY24. However, approximately Rs8.684 million worth of natural gas continues to be stolen daily in the districts of Karak, Hangu, and Shakardara, resulting in monthly losses of Rs264.66 million. The consistent decline in losses is attributed to rehabilitation initiatives by federal and provincial governments. Over the years, transmission and distribution losses have steadily decreased: FY20: 16,164 MMCF lost (Rs8.8 billion).FY21: 10,079 MMCF lost (Rs6…

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OMC Sales Drop 19% MoM in December but Show 4% Growth in 1HFY25

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Oil-Price

KARACHI: The oil marketing companies (OMC) sector reported sales of 1.28 million tons in December 2024, reflecting a 3% year-on-year (YoY) increase but a sharp 19% decline compared to November, attributed to seasonal fluctuations, according to Maaz Azam, Research Head at Optimus Capital Management. In the first half of FY2024-25 (1HFY25), OMC sales rose by 4% YoY to 8.03 million tons, driven by a crackdown on smuggled Iranian fuel and significant price cuts for petrol and diesel. Notably, November 2024 saw petroleum sales soar to a 25-month high of 1.58…

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