Author: Admin

Lesco Cracks Down on 87 Defaulting Furnaces: Bank Accounts Frozen, SIMs Blocked

Admin
Power-sector

ISLAMABAD: The Lahore Electric Supply Company (Lesco) has launched a major crackdown on 87 defaulting steel furnaces, freezing their bank accounts and blocking mobile SIMs to recover outstanding dues, sources told Business Recorder. Lesco has already disconnected these defaulters and conducted thorough site inspections, documenting all locations with photographic evidence. Awareness campaigns, including banners and wall chalking, have been carried out at defaulting premises. So far, Rs95.9 million has been recovered through installment-based payments, while recovery notices have been issued under the Land Revenue Act for 29 connections, with 27…

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SNGPL Faces Severe Liquidity Crisis as Power Sector Dues Hit Rs148.5bn

Admin
SNGPL-Office

ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) is grappling with a severe liquidity crisis due to outstanding dues from the power sector, which have surged to Rs148.5 billion. The company has warned that the alarming situation threatens its financial stability and ability to meet commitments to upstream gas suppliers. According to SNGPL, key receivables include Rs29.4 billion from Guddu Power, Rs9.8 billion from Nandipur, and Rs1.35 billion from TPS Muzaffargarh, among others. Total undisputed dues stand at Rs35.3 billion, while disputed gas charges amount to Rs34.3 billion. A significant Rs78.1…

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Tariff Subsidy Dispute Drags On as Mediation Faces Delays

Admin
K-Electric-3

ISLAMABAD: The tariff differential subsidy dispute involving K-Electric (KE), the government, and state-owned enterprises (SOEs) remains unresolved, as mediation efforts continue to face hurdles. The Karachi Water and Sewerage Board (KWSB) has refused to cooperate, further delaying the resolution process. The government had appointed a mediator to address KE’s claims for tariff differential subsidies and payables from entities such as Central Power Purchasing Agency-Guarantee (CPPA-G), National Transmission and Despatch Company (NTDC), and Sui Southern Gas Company (SSGC). However, a settlement remains elusive. The dispute, which has unsettled foreign investors in…

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PM Shehbaz to Meet IMF Chief in Dubai Ahead of $1 Billion Loan Review

Admin
Shahbaz-Sharif1

ISLAMABAD: Prime Minister Shehbaz Sharif will meet International Monetary Fund (IMF) Managing Director Kristalina Georgieva today (Tuesday) in Dubai, just weeks before the March 3 review talks for Pakistan’s $1 billion second loan tranche. The high-stakes meeting will take place on the sidelines of the World Governments Summit, where global leaders, policymakers, and private sector figures are gathering to discuss governance, innovation, and international cooperation. Pakistan requested the meeting, but its agenda remains undisclosed. This marks the third meeting between PM Shehbaz and Georgieva in the past 10 months. The…

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Business Leaders Oppose Security Deposit Hike, Urge NEPRA to Reject Proposal

Admin
Nepra-KE-1

Business Leaders Oppose Security Deposit Hike, Urge NEPRA to Reject Proposal February 11, 2025 KARACHI: Business leaders have strongly opposed the proposed hike in security deposit rates by electricity distribution companies (DISCOs), urging the National Electric Power Regulatory Authority (NEPRA) to reject the move, which they argue would severely impact industrial growth and economic competitiveness. Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Jawed Bilwani warned that the proposed increase—such as the rise in B2 security deposits from Rs2,010 per kilowatt to Rs54,783/KW—is excessive and financially unsustainable for businesses.…

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