Author: Admin

Pakistan Secures $500m ADB Loan for Climate Resilience

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SBP-ADB

KARACHI: The State Bank of Pakistan (SBP) has received $500 million from the Asian Development Bank (ADB) under the Climate Change and Disaster Resilience Enhancement Program (CDREP). The inflow, confirmed by the SBP on Friday, will strengthen Pakistan’s foreign exchange reserves. “These funds will be reflected in SBP’s reserves for the week ending November 29, 2024,” the central bank stated, adding that reserves are expected to surpass $12 billion by the end of the month, up from $11.42 billion as of November 22, 2024. The loan agreement with ADB, signed…

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PM Shehbaz Tasks Fatemi to Resolve Siemens’ Concerns Over Rousch Power Deal

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Shahbaz-Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif has appointed Syed Tariq Fatemi, Special Assistant on Foreign Affairs, to address grievances raised by Siemens, a German partner in Rousch Pakistan Power Limited (RPPL), regarding a new deal negotiated by the Energy Task Force led by Federal Power Minister Sardar Awais Khan Leghari. The dispute surfaced during recent Pakistan-EU talks, with the German Embassy raising concerns in a letter to the Power Minister. Siemens, which has been a key player in Pakistan’s power sector since the 1990s, expressed dissatisfaction with the settlement terms proposed…

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K-Electric Seeks Rs461 Million Refund for Consumers; NEPRA Hearing Scheduled

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K-Electric

ISLAMABAD: K-Electric has requested the National Electric Power Regulatory Authority (NEPRA) to approve a refund of Rs0.27 per unit to its consumers under the monthly Fuel Charges Adjustment (FCA) for October 2024, amounting to Rs461 million. NEPRA has scheduled a public hearing on December 5, 2024, to examine the petition. The hearing will evaluate the justification for the proposed FCA refund and assess whether K-Electric complied with the economic merit order in its power generation and procurement activities. In its petition, K-Electric stated that the adjustment aligns with NEPRA’s earlier…

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Petrol and Diesel Prices Likely to Remain Steady

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Petrol-Diesel

ISLAMABAD: The prices of major petroleum products are expected to see minimal changes for the next fortnight ending December 15, as slight shifts in international oil rates and a marginal improvement in the exchange rate balance out. According to industry sources, global prices for petrol and high-speed diesel (HSD) have risen slightly in the past two weeks, but recent declines and stable import premiums have kept the overall impact negligible. The rupee’s modest appreciation has further offset potential price hikes. Calculations as of November 28 suggest a minor increase of…

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Sindh Government and Civil Society Align to Tackle Climate Impacts of Energy Projects

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Nasir-Shah

KARACHI: In a significant step towards inclusive energy policy-making, Sindh’s Minister for Energy, Syed Nasir Hussain Shah, emphasized the need for government collaboration with civil society to shape climate-resilient energy policies. Speaking at the Sindh Energy Dialogue, jointly organized by The Knowledge Forum and NED University of Engineering and Technology, the minister outlined the province’s ambitious renewable energy initiatives, including solar parks and home solar solutions for underserved populations. “The Sindh government is committed to affordable electricity for all. Civil society must partner with experts and institutions to ensure public…

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