Author: Admin

Awais Ahmad Khan Leghari Highlights Pakistan’s Renewable Energy Goals at the Opening Ceremony of the Belt and Road Energy Conference

Admin
energy-sector

Federal Minister for Power Sardar Awais Ahmad Khan Leghari, addressed the opening ceremony of the Third Belt and Road Energy Ministerial Conference, underscoring Pakistan’s commitment to renewable energy and stressing the importance of global cooperation in the energy sector. “I extend my congratulations to the Chinese National Energy Administration for successfully hosting this important conference,” Awais Leghari remarked. He acknowledged the role of the Belt and Road Energy Partnership (BREP) in strengthening energy infrastructure and promoting sustainable economic growth through energy trade. The Federal Minister said that our collaboration with…

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Oil Transport Sector Poised for Growth Amid Rising Demand: Pacra Study

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oil-export

KARACHI: The oil transportation and storage sector in Pakistan is set for expansion, driven by increased petroleum demand and relaxed import restrictions, according to a study by the Pakistan Credit Rating Agency (Pacra). The report highlights that pipelines, recognized as cost-effective and environmentally friendly, are essential for both domestic and cross-border oil transport. Pakistan’s oil pipeline network, spanning over 2,000 kilometers, transports High-Speed Diesel (HSD), Motor Gasoline (Mogas), and crude oil. Road transport remains the dominant mode of oil movement, accounting for 69% of total transport, while pipelines handle 29%,…

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SIFC Sets November 12 Deadline for Petroleum Division to Resolve Sales Tax Exemption Issue on $6 Billion Refinery Upgrades

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Refinery-Limited

ISLAMABAD: The Special Investment Facilitation Council (SIFC) has instructed the Petroleum Division (PD) to resolve the sales tax exemption issue by November 12, to pave the way for a $6 billion refinery upgrade project. This issue, stemming from the Finance Bill for FY25, has stalled crucial upgrade investments by local refineries, according to a senior Energy Ministry official. SIFC emphasized that consultations between the Petroleum Division, the Finance Ministry, and the Federal Board of Revenue (FBR) are essential to address the sales tax exemption on petrol, diesel, kerosene, and light…

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CPPA-G Seeks 71 Paisa per Unit Negative FCA Adjustment for September 2024

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CPPA-FCA

ISLAMABAD: The Central Power Purchasing Agency-Guaranteed (CPPA-G) has proposed a 71 paisa per unit negative adjustment under the Fuel Cost Adjustment (FCA) mechanism for September 2024, aiming to refund Rs 8.55 billion to consumers. The National Electric Power Regulatory Authority (Nepra) is scheduled to hold a public hearing on this adjustment on October 30, 2024. According to CPPA-G data, hydel power contributed 4,838 GWh (38.75%) of the total generation in September. Local coal-fired plants generated 1,261 GWh at Rs 12.2882 per unit, while imported coal accounted for 1,149 GWh at…

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Govt Revises Agreements with 8 Bagasse-Fired IPPs, Securing Billions in Savings

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power-subsidy

ISLAMABAD: The government has successfully renegotiated agreements with eight bagasse-fired Independent Power Producers (IPPs), achieving substantial financial savings estimated between Rs 85-100 billion. These revisions include a reduction of Rs 8 billion from the Rs 22 billion recently approved for upward tariff adjustments. Among the sugar mills signing the revised Power Purchase Agreements (PPAs) are Hamza Sugar Mills, Chiniot Sugar Mills, and others. Key changes include lowering the rate of bagasse from Rs 5,600 per ton to Rs 4,500, with a 5% retrospective deduction. The renegotiated deals are expected to…

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