Author: Admin

Significant Gas Reserves Discovered in North Waziristan: Shewa-2 Well to Boost Domestic Production by Over 3%

Admin
Mari-Petroleum

KARACHI: Pakistan has made a major breakthrough in its energy sector with the discovery of substantial gas reserves estimated at 351.2 billion cubic feet (BCF) in the Shewa fields of North Waziristan. This new find is expected to contribute 70 million cubic feet per day (mmcfd) to the national grid, increasing the country’s domestic gas production by over 3% daily and reducing reliance on costly fuel imports. According to Mari Petroleum‘s 2024 Annual Report, the Shewa-2 well will begin injecting gas into the system following the completion of a new…

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NEPRA Restricts IPP Contract Extension Debate, Citing Inappropriate Forum

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

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) Chairman on Tuesday barred participants from discussing the renewal of independent power producers’ (IPPs) contracts during a public hearing, stating that it was not the appropriate forum for such a debate. During the hearing, interveners raised concerns about the capacity payments charged by IPPs and called for a forensic audit of their operations. The Chairman, however, redirected the focus away from contract renewals, while the businessmen running the IPPs faced criticism for inefficiencies that allegedly led to a multibillion-rupee burden on consumers…

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Aurangzeb Vows Economic Stability Through IMF Deal and Tax Reforms

Admin
Muhammad-Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb reaffirmed on Tuesday that Pakistan is on the right track to achieving macroeconomic stability, emphasizing the importance of securing external financing to finalize the $7 billion IMF bailout package. He stressed the need for structural reforms, warning provincial governments against populist measures like energy subsidies. In a televised address, Aurangzeb highlighted significant economic progress, including a drop in inflation from 38% to single digits and a boost in foreign exchange reserves. He called for a crackdown on tax evasion, insisting on increased tax compliance from…

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KCCI Urges Nepra to Address Urgent Issues with K-Electric

Admin
KCCI-Import

KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has called on the National Electric Power Regulatory Authority (Nepra) to urgently convene a hearing with all relevant stakeholders to resolve critical issues surrounding K-Electric (KE) that are adversely affecting both industrial and residential consumers in Karachi. In a letter addressed to Nepra Chairman Waseem Mukhtar, KCCI President Iftikhar Ahmed Sheikh expressed concern over the imposition of a Power Holding Limited (PHL) surcharge of Rs3.23 per unit. He criticized this surcharge as an unfair financial burden on Karachi’s consumers, who are…

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28 Companies Honored at Solar Technology Excellence Awards 2024 in Lahore

Admin
Solar-Award

Lahore – The Solar Technology Excellence Awards 2024, a prestigious event celebrating innovation and leadership in the solar energy sector, was held at a local hotel in Lahore. The ceremony, organized by Energy Update in partnership with the Ministry of Energy (Power Division), Private Power Infrastructure Board (PPIB), and Pakistan Solar Association, recognized 28 companies for their outstanding contributions to the advancement of solar energy in Pakistan. The event was graced by Khyber Pakhtunkhwa Governor Faisal Karim Kundi, who served as the Chief Guest. In his address, Governor Kundi highlighted…

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