Author: Admin

Sindh cabinet approves setting up SEPRA as Pakistan’s first provincial power sector regulator

Admin
Power genration

Karachi: The Sindh cabinet has granted approval to the formation of the Sindh Electric Power Regulatory Authority (SEPRA) to set up Pakistan’s first-ever provincial-level regulator for electricity affairs in line with the 18th Constitutional Amendment.The cabinet meeting was chaired by Sindh Chief Minister Syed Murad Ali Shah. On June 7, 2023, the Sindh Assembly unanimously passed the Sindh Regulation of Electric Power Services Bill-2023 envisaging setting up the SEPRA.The SEPRA will comprise a chairman and three members. The CM also approved a grant of Rs 197.916 million as part of…

Read More

KCCI demands release of pending Rs33 billion against incremental consumption

Admin
KCCI-Import

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while referring to his discussions with industrial town associations in connection with delays in release of funds against incremental consumption of electricity during COVID-19 pandemic, urged the government to immediately release the remaining amount of Rs33 billion to Karachi industries so that their grievances could be minimized to some extent.“KCCI has been constantly raising this particular issue and it has been assured by the policymakers on various occasions that the funds had already been allocated against incremental consumption…

Read More

Pakistan’s Refining Sector Prepares for Major Furnace Oil Exports Amid Dwindling Local Demand

Admin
Refinery-Limited

KARACHI: Pakistan’s refining industry is gearing up for significant furnace oil exports in the coming weeks, with shipments expected to exceed 100,000 tonnes. The shift towards exports comes as domestic demand for furnace oil has nearly vanished since the start of the current fiscal year. Pakistan Arab Refinery Limited (PARCO) has already issued a tender to export 50,000 tonnes of furnace oil, while Pakistan Refinery Limited (PRL) is seeking approval from the Oil & Gas Regulatory Authority (OGRA) to proceed with its own export plans. PRL aims to export 50,000…

Read More

Fire Breaks Out at RLNG Power Plant Near Trimmu Barrage, Jhang

Admin
Jhang-RLNG

ISLAMABAD: In the early hours of August 3, a gas turbine at the 1,263 MW RLNG-based power plant near Trimmu Barrage, Jhang, caught fire, causing significant damage. The power plant, which boasts an efficiency of 61.16 percent, was a key project initiated by Prime Minister Shehbaz Sharif during his tenure as Punjab Chief Minister. The project, fully owned by the Punjab government, was completed at a cost of $707.7 million, financed through a mix of 25 percent equity and 75 percent loans from major banks. Punjab Information Minister Azma Bukhari…

Read More

Govt Forms Committee to Resolve Dispute Over OGDCL Share Transfer

Admin
ogdcl

ISLAMABAD: The federal government has formed a committee to address the dispute regarding the transfer of 322,460,900 shares of Oil and Gas Development Company Limited (OGDCL). The Ministry of Planning, Development, and Special Initiatives opposes the proposal to transfer these shares to the Ministry of Energy (Petroleum Division), recommending instead that they be transferred to the Pakistan Sovereign Wealth Fund (PSWF). In response to this disagreement, a committee led by Deputy Prime Minister and Foreign Minister Ishaq Dar has been established to review the legal implications of the share transfer.…

Read More