Author: Admin

Engro Holdings Names Abdul Samad Dawood as New CEO

Admin
Abdul-Samad

KARACHI: Engro Holdings Limited, one of Pakistan’s leading conglomerates, has announced the appointment of Abdul Samad Dawood as its new Chief Executive Officer (CEO), effective January 3, 2025. The decision was approved by the company’s Board of Directors (BoD) in a meeting held the same day. In a notice to the Pakistan Stock Exchange (PSX), Engro Holdings expressed its gratitude to outgoing CEO Mohammad Shamoon Chaudry for his invaluable contributions during his tenure. About Abdul Samad Dawood Abdul Samad Dawood brings over two decades of experience in management and governance…

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KE Expresses Shock as Five Renewable Energy Projects Excluded from IGCEP 2024

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K-Electric

ISLAMABAD: K-Electric (KE) has raised serious concerns over the exclusion of its five renewable energy projects from the Indicative Generation Capacity Expansion Plan (IGCEP) 2024, currently in its finalization stages. The power utility has communicated its grievances to Federal Minister for Power Sardar Awais Leghari, citing previous correspondence and engagements with the National Transmission and Dispatch Company (NTDC). KE claims that despite multiple submissions and requests for review, the draft IGCEP 2024 did not incorporate its proposed renewable energy projects, including approvals granted by NEPRA earlier in 2024. These projects,…

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CM Punjab Launches Free Solar Panel Scheme for Energy Relief

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CM-Punjab

LAHORE: Chief Minister Punjab Maryam Nawaz Sharif has unveiled a free Solar Panel Scheme aimed at reducing electricity costs for households across the province. Speaking at the launch, the Chief Minister announced that 100,000 homes will receive solar panel systems, with a total project cost of Rs10 billion. Eligible households consuming an average of 200 units of electricity per month on a single meter can apply. The solar systems, available in 550-watt and 1100-watt configurations, will be distributed through balloting in June 2025. “The initiative will bring substantial relief to…

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IMF Pushes for Levy on Captive Power Plants to Align Costs with Grid Power

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New-IMF

ISLAMABAD: The International Monetary Fund (IMF) has demanded a substantial levy on gas supply to industrial captive power plants (CPPs) as part of Pakistan’s commitments under the $7 billion Extended Fund Facility (EFF). The aim is to eliminate the cost advantage of in-house electricity generation over grid power. A structural benchmark under the EFF requires gas disconnections to CPPs by January 2025 to qualify for the second $1 billion tranche in March 2025. The IMF has rejected Pakistan’s plea to revise this benchmark, insisting instead on imposing an additional levy…

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Sindh Energy Minister Pledges Support to Thar Coal Project-Affected Communities

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Thar-Coal

KARACHI: Sindh Energy Minister Syed Nasir Hussain Shah, during a meeting with a delegation of Thar Coal project-affected individuals on Friday, assured them of the government’s unwavering support in addressing their grievances. The delegation, comprising Bhim Raj, Leelaram, and other community representatives, raised concerns about employment, access to clean water, and basic amenities. Minister Shah reaffirmed the Sindh government’s commitment to resolving these issues, emphasizing the Pakistan Peoples Party’s (PPP) focus on community welfare. “Our leadership, including PPP President Asif Ali Zardari, Chairman Bilawal Bhutto Zardari, Faryal Talpur, and the…

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