Author: Admin

Power Sector Overhaul: Addressing Major Bottlenecks Underway

Admin
power-fleet

ISLAMABAD: The Power Division has initiated efforts to address 23 critical issues in Pakistan’s generation, transmission, and distribution systems, sources revealed to Business Recorder. These proposed reforms have been presented to the Prime Minister and the Special Investment Facilitation Council (SIFC). In generation, the focus areas include substituting imported fuel, optimizing fuel and capacity utilization, reducing the capacity payment burden, and privatization. Transmission improvements are targeting the North-South transmission capacity and governance enhancements. A significant concern is the power sector’s circular debt, which exceeds Rs 2.4 trillion, with only Rs…

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Government Plans Feasibility Study for Power Export to China

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power-sector

ISLAMABAD: The government has decided to conduct a feasibility study on exporting electricity to China, involving the Chinese firm M/s Three Gorges, according to sources from the Power Division. This decision was made during a meeting led by Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, to finalize strategies for the upcoming high-level visit to Russia. The meeting, which included discussions on various bilateral issues, emphasized the importance of enhancing connectivity and security for transport routes. The Ministry of Railways highlighted three key rail routes to improve trade links…

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Miftah Ismail to File Petition Against K-Electric Over Rate Hikes

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K-electric

KARACHI: Awaam Pakistan Party leader Miftah Ismail has announced his plan to file a petition against K-Electric, citing a 350% increase in electricity rates since 2015. Speaking at a protest outside K-Electric’s head office, Ismail criticized the government’s management of electricity tariffs, arguing that it places undue burden on ordinary citizens. He highlighted the Pakistan People’s Party’s unfulfilled promise of providing 300 free units of electricity, questioning the rationale behind such steep rate hikes. Ismail asserted that no one should receive free electricity if ordinary citizens do not, and expressed…

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POL Discovers Oil and Gas Reserves in Kohat District

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oil price

ISLAMABAD: Pakistan Oilfields Limited (POL) has announced the discovery of significant hydrocarbon reserves at its Razgir-1 exploratory well in Kohat district, Khyber Pakhtunkhwa. POL, a subsidiary of Attock Oil Company Limited, shared the news with the Pakistan Stock Exchange (PSX) on Monday. The Razgir-1 well, part of the TAL block operated by MOL Group, was spudded on January 9, 2024, and drilled to a depth of 3,950 meters. The Drill Stem Test (DST) of the Lumshiwal formation revealed the well’s potential, producing 20 MMscf of gas per day and 250…

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K-Electric Seeks Petroleum Division’s Support for Mari Gas Supply

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mari-petrolium

ISLAMABAD: K-Electric (KE) has requested the Petroleum Division’s assistance to secure 100 MMSCFD of surplus indigenous gas from Mari Petroleum Company Limited (MPCL), following the expiry of MPCL’s contract with SNGPL. KE referenced its November 3, 2023, letter requesting gas allocation for its fleet and initiated discussions with gas exploration companies including Mari, PPL, PEL, Eni, OGDCL, and MoI. KE’s Chief Strategy Officer, Shahab Qader Khan, highlighted that Mari has 100 MMSCFD of available gas. Allocating this gas to KE could significantly reduce the utility’s generation costs. The price of…

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