Author: Admin

KSA, Pakistan Continue Negotiations on Reko Diq Stake

Admin
Reko-Diq

ISLAMABAD: Pakistan and the Kingdom of Saudi Arabia (KSA) are still working to finalize key details regarding the 15% stake in the Reko Diq copper and gold project in Balochistan, sources told Business Recorder. The Reko Diq Mine is currently 50% owned by Barrick Gold, while the Government of Pakistan holds 25% through state-owned enterprises (GHCL, OGDCL, and PPL). The Government of Balochistan retains 15% on a fully funded basis and 10% on a free-carried basis. Progress and Key Challenges Minister for Petroleum and Natural Resources, Dr. Musadik Masood Malik,…

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Govt Revises Tariffs with 14 IPPs, Secures Rs813 Billion in Savings

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New-IPPS1

ISLAMABAD: The government has successfully renegotiated tariffs with 14 Independent Power Producers (IPPs), securing Rs813 billion in savings for consumers and addressing circular debt amounting to Rs329 billion. As part of the agreement, the IPPs have agreed to return Rs31 billion in excess profits, a reduction from the initial Rs55 billion claim. Additionally, the government has decided to close investigations by the National Accountability Bureau (NAB) and the National Electric Power Regulatory Authority (NEPRA) against certain IPPs, including Nishat Power Limited, Nishat Chunian Power Limited, Liberty Power Tech Limited, and…

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Power Consumers May Get Rs1.03 Per Unit Relief as NEPRA Reviews Fuel Cost Adjustment

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New-NEPRA

ISLAMABAD: Electricity consumers are poised to receive a relief of Rs1.03 per unit under the fuel cost adjustment (FCA) for December 2024, pending approval by the National Electric Power Regulatory Authority (NEPRA). During a public hearing, the Central Power Purchasing Agency-Guarantee (CPPA-G) highlighted that seasonal adjustments had contributed to lower electricity prices. However, the prolonged shutdown of the 969MW Neelum-Jhelum Hydropower Plant has deprived consumers of cheap electricity, impacting overall tariff reductions. Additionally, the non-operation of the 747MW Guddu power plant was questioned, but CPPA-G did not provide a clear…

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Govt Seeks to Integrate Captive Power Plants into National Grid with SLAs

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New-Project32

ISLAMABAD: In an effort to absorb surplus electricity capacity and enhance industrial reliance on the national grid, the Power Division has directed all public and private electricity distribution companies to sign Service-Level Agreements (SLAs) with captive power plant (CPP) consumers. The initiative aims to ensure a stable, high-quality power supply to industries while holding distribution companies accountable for reliability standards. Under the draft SLA, power companies must maintain a 99% reliability rate and compensate CPP consumers at Rs10,000 per hour for voltage and frequency deviations. Additional penalties of Rs50,000 apply…

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“Pakistan’s Solar Boom: 22 GW Imported in 18 Months, 10% Drop in Grid Demand”

Admin
New-Project31

Islamabad: Pakistan is witnessing an unprecedented solar revolution as communities and businesses take charge of their energy needs, outpacing government policies and traditional infrastructure. With a staggering 22 GW of solar panels imported in just 18 months, the country is undergoing a massive shift towards decentralized solar solutions. However, sustaining this momentum requires urgent policy reforms, infrastructure upgrades, and market mechanisms. At the Great Solar Rush Conference 2025, held at Serena Hotel, Islamabad, Senator Sherry Rehman highlighted the urgency of aligning policies with this people-driven transformation. “Pakistan has emerged as…

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