Author: Admin

Ministry Flags Financial Mismanagement in Oil and Gas Sector, Highlights Circular Debt Crisis

Admin
oil-and-gas

ISLAMABAD: The Ministry of Finance has raised concerns over the poor financial management in Pakistan’s oil and gas sector, attributing it to the rising circular debt and operational inefficiencies. In its report, the ministry identified key weaknesses in the business strategies of major state-owned enterprises (SOEs), including Pakistan State Oil (PSO), Pakistan Petroleum Limited (PPL), Oil and Gas Development Company (OGDC), Sui Northern Gas Pipelines Limited (SNGPL), and Sui Southern Gas Company Limited (SSGCL). Ineffective financial practices and delays in payments from other SOEs and customers have resulted in significant…

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China Faces Rise in Flu-Like Illnesses with Human Metapneumovirus Prominence

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Flu-Like

BEIJING: Recent news reports and social media alerts have highlighted a potential outbreak of human metapneumovirus (HMPV) in China. However, Chinese officials have yet to confirm these claims. Instead, data from the Chinese Center for Disease Control and Prevention (CDC) up to the last week of 2024 indicates a surge in various flu-like illnesses across the country. The latest statistics reveal that influenza is the primary driver of the current outbreak, with 30.2 percent of tests returning positive—an increase of 6.2 percentage points from the previous week. Additionally, 17.7 percent…

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Govt Unveils 100 MW Solar Project and Development Initiatives for Gilgit-Baltistan

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soalr energy

ISLAMABAD: The government has announced plans to establish a 100 MW solar power project in Gilgit-Baltistan (GB) under the Public Sector Development Programme (PSDP), a move aimed at boosting sustainable energy and regional development. In a meeting chaired by the Minister for Kashmir Affairs and Gilgit-Baltistan, officials outlined a phased approach to implementing the project, pending a feasibility study conducted by NESPAK as a government-to-government consultant. The project’s distribution will allocate 40 MW to Gilgit and 20 MW each to Skardu, Chilas, and Ghanche. The existing distribution infrastructure will facilitate…

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Senator Seeks Accountability for Corruption in World Bank-Funded Grid Station Project

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Power genration

ISLAMABAD: Senator Saifullah Abro, Chairman of the Standing Committee on Economic Affairs, has urged Federal Minister for Power Sardar Awais Leghari to take action against National Transmission and Despatch Company (NTDC) officials over alleged financial irregularities in the World Bank-funded 765kV Grid Station project at Islamabad West (Lot-IV). In a letter to the minister, Senator Abro highlighted serious concerns over the mismanagement of the project, approved at a cost of Rs. 33.6 billion but later inflated to Rs. 35 billion due to the inclusion of Rs. 1.282 billion in taxes,…

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Nepra Criticizes Power Policies for Inflating Consumer Costs

Admin
KE’S- 7-YEAR- INVESTMENT-ROADMAP

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has sharply criticized government power generation policies, identifying overinvestment in peak demand capacity, delays in expanding Thar coal projects, and hindrances to rooftop solar adoption as primary drivers of escalating electricity costs and financial strain on the power sector. In a special report on generation sector challenges, Nepra highlighted the inefficiency of focusing on peak demand generation. It suggested prioritizing rooftop solar solutions, which offer advantages like zero losses and no capacity payments. “Despite an underutilized installed capacity, the Indicative Generation Capacity…

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