Author: Admin

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

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

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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

Admin
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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