Author: Admin

Ogra Approves Export of Additional 80,000 MT of Furnace Oil

Admin
OGRA

KARACHI: The Oil and Gas Regulatory Authority (Ogra) has granted approval for the export of an additional 80,000 metric tonnes (MT) of furnace oil to address surplus stock amid declining domestic demand. The new approval includes 50,000MT for Pak-Arab Refinery Limited (Parco) and 30,000MT for National Refinery Limited (NRL). Parco is authorized to export its allocation during the fourth week of December, while NRL will export 15,000MT each from Port Qasim and Kemari Port during the same period. This follows an earlier decision allowing Cnergyico Pakistan Limited (CPL) to export…

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SIFC to Address Key Energy Sector Challenges Today

Admin
SIFC-body

ISLAMABAD: The Special Investment Facilitation Council (SIFC) is set to deliberate on critical energy sector issues in a high-stakes meeting today (Wednesday). The agenda includes significant matters from the petroleum and power divisions, such as the proposed sale of 35% gas from new discoveries to third parties and amendments to the Greenfield Refineries Policy. Key discussions will revolve around the upgradation of the Brownfield Refineries Policy and regulatory interventions related to the Exploration and Production (E&P) sector. The council will review progress on offshore oil and gas exploration and address…

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K-Electric’s Rs68bn Write-Off Plea Faces Strong Resistance

Admin
circular-debt-K-electric-ceo

ISLAMABAD: K-Electric’s request to write off Rs68 billion in ‘unrecoverable dues’ from defaulters has met fierce opposition from stakeholders, who argue it would unfairly burden taxpayers and honest consumers through budgetary subsidies and tariff adjustments. The Karachi-based utility submitted the claim for losses incurred over seven years (FY2017-2023) under a 2018 tariff determination that permitted a 1.69% provision for recovery shortfalls. KE’s CEO, Moonis Alvi, and CFO, Amir Ghaziani, defended the plea as a rightful claim, suggesting the amount be absorbed into consumer tariffs or subsidized by the federal government.…

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Cabinet Approves Revised Agreements with Eight IPPs to Slash Power Costs

Admin
Power-sector

ISLAMABAD: The federal cabinet, led by Prime Minister Shehbaz Sharif, has approved revised settlement agreements with eight independent power producers (IPPs) operating on bagasse. This move is projected to save approximately Rs240 billion for the national exchequer and reduce electricity tariffs. The decision, based on recommendations from the Ministry of Energy’s power division, involves tariff adjustments for power plants, including DW Unit I, Unit II, RYK Mills, Chiniot Power, Hamza Sugar, Al-Moez Industries, Thal Industries, and Chinar Industries. The Central Power Purchasing Agency will now seek approval from the National…

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Power Companies’ Inefficiencies Cost Exchequer Rs660 Billion

Admin
Power Division

ISLAMABAD: The poor performance of electricity distribution companies in the fiscal year 2023-24 led to losses exceeding Rs660 billion for the national exchequer, according to the annual performance report by the National Electric Power Regulatory Authority (NEPRA). The report highlighted systemic inefficiencies, including high transmission and distribution (T&D) losses and low recovery rates. These inefficiencies, coupled with the operational shortcomings of both private and public power plants, imposed significant financial burdens on taxpayers and consumers. T&D Losses and Circular DebtT&D losses emerged as a critical issue, with no distribution company…

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