Author: Admin

World Bank Recommends Transferring DISCOs to President Before Privatisation

Admin
world-bank

ISLAMABAD: The World Bank has proposed transferring ownership of 10 power distribution companies (DISCOs) to the president of Pakistan as part of a privatisation strategy aimed at mitigating the sector’s burden on the national exchequer. The recommendation is among nine key prior actions outlined by the World Bank to ensure successful privatisation. These include cleaning up DISCOs’ balance sheets, notifying tariff and subsidy guidelines, and developing a new electricity policy to reduce technical and commercial losses. During a Senate Standing Committee on Privatisation briefing, chaired by Senator Tallal Chaudhry, it…

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Pakistan Approves Sale of 35% Newly Discovered Gas Reserves to Private Sector

Admin
Gas-OGDCL

ISLAMABAD: After nearly a year of deliberation, a high-level committee, chaired by Deputy Prime Minister Ishaq Dar, has approved the sale of 35% of newly discovered gas reserves to private entities through a competitive bidding process. The decision, aimed at addressing liquidity challenges faced by exploration and production (E&P) companies, is expected to attract $4-5 billion in new investment for offshore exploration. A cap of 100 million standard cubic feet per day has been set for the first year, with annual reviews planned. This framework will be presented to the…

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CCP Approves Gunvor Group’s Acquisition of 50% Stake in Total Parco Pakistan

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Total-PARCO

ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of a 50% shareholding in Total Parco Pakistan Ltd (TPPL) by Aquashore SA, a subsidiary of Switzerland-based Gunvor Group. The stake will be transferred from TotalEnergies Marketing Services under the terms of the sale and purchase agreement. This strategic move is the latest in a series of high-profile transactions in Pakistan’s petroleum sector, recently greenlit by the CCP. Gunvor Group, a leading global commodities trading firm, aims to leverage its extensive expertise in trading and logistics to…

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China Activates World’s Second-Largest Solar Power Plant

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soalr energy

BEIJING: CHN Energy has successfully connected the 3 GW Mengxi Lanhai Solar Plant to the grid, making it the largest single-site solar facility in China and the second-largest worldwide. Located in Ordos, Inner Mongolia, the $1.6 billion project was completed in just 14 months and is a cornerstone of China’s “West-to-East Power Transmission” strategy. Spanning 70 square kilometers, the plant features over 5.9 million solar panels and is equipped with advanced infrastructure, including two 500 kV gathering stations and eight 220 kV substations. It will transmit power to coastal regions…

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KCCI Demands Winter Package Exclude K-Electric, Citing Consumer Dues

Admin
KCCI-Import

ISLAMABAD: The Karachi Chamber of Commerce and Industry (KCCI) has urged the federal government to directly distribute the upcoming Winter Support Package to Karachi consumers, bypassing K-Electric (KE). The power utility currently owes approximately Rs 100 billion to its customers, according to KCCI President Jawed Bilwani. In a letter addressed to Federal Minister for Power Sardar Awais Khan Leghari, Bilwani highlighted unresolved grievances, including KE’s failure to pass on benefits from previous relief measures such as the incremental electricity consumption package introduced during the COVID-19 pandemic. Of the Rs 42…

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