Author: Admin

Sharif Announces 100MW Power Boost and Rs1 Billion Student Fund for Gilgit-Baltistan

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Sharif-Announces

GILGIT: During a visit to Gilgit-Baltistan (GB), Prime Minister Shehbaz Sharif announced an immediate power supply of 100 megawatts for the region and the establishment of a Rs1 billion merit-based endowment fund for students at Baltistan University and Karakoram University. In a special meeting with the GB cabinet, the Prime Minister also expressed satisfaction over the timely completion of the Bubar Model Village, developed to house those affected by the 2022 floods. He instructed the GB administration to prioritize educational institutions, playgrounds, and essential infrastructure in Ghizer district. Shehbaz Sharif…

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Discos Request 48 Paisa Increase to Recover Rs8.7 Billion from Consumers for Q1

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Power-sector

ISLAMABAD: Power Distribution Companies (Discos) have filed a petition with the National Electric Power Regulatory Authority (Nepra) seeking a positive adjustment of 48 paisa per unit to recover Rs8.718 billion from consumers for the first quarter (July-September) of FY2024-25 under the Quarterly Tariff Adjustment (QTA) mechanism. The petition, filed by the Central Power Purchasing Agency Guaranteed (CPPA-G), details that Rs8.065 billion of the adjustment is attributed to capacity charges for power generation plants. Discos, including IESCO, GEPCO, MEPCO, PESCO, and others, have submitted specific adjustment requests based on their operational…

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Government’s ‘Winter Package’ for Power Consumption Stalls Amid IMF Approval Uncertainty

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pak-imf

ISLAMABAD: The federal government’s proposed ‘Winter Package 2024,’ aimed at boosting electricity consumption during winter, remains uncertain as conflicting reports emerge regarding International Monetary Fund (IMF) approval. The package seeks to lower electricity rates by Rs 7-8 per unit nationwide for five months, from December 2024 to April 2025, in an effort to increase domestic demand and reduce capacity charges. Officials disclosed that the IMF has yet to fully approve the plan, despite a recent meeting where the government presented data on projected consumption increases and economic impacts. While one…

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AIIB Eyes New Investment Opportunities in Pakistan’s Energy Transmission Sector

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New-AIIB

ISLAMABAD: The Asian Infrastructure Investment Bank (AIIB) has expressed a keen interest in exploring future investments in Pakistan’s energy transmission sector. During a meeting on Wednesday, AIIB Vice President Konstantin Limitovskiy met with Federal Minister for Economic Affairs Ahad Khan Cheema, discussing the bank’s ongoing projects, future pipeline, and potential financing avenues in Pakistan. Cheema acknowledged AIIB’s continued support, particularly in times of crisis, like the 2022 floods. He praised the bank’s commitment to Pakistan’s infrastructure projects and suggested expanding AIIB’s senior-level presence as investments increase. He also highlighted the…

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Leaders Highlight Need for immediate action to Tackle Pakistan’s Economic and Environmental Challenges

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summit

Karachi, November 06, 2024: The 8th Edition of THE FUTURE SUMMIT commenced with a packed hall at a local hotel in Karachi. Farrukh Amin, Chief Executive Officer, Unity Foods Limited and Muhammad Azfar Ahsan, Founder & Chairman, Nutshell Group, welcomed the audience. The inaugural session featured an impressive lineup of speakers including Senator Muhammad Aurangzeb, Federal Minister for Finance & Revenue; Dr. Shamshad Akhtar, Chairperson, Pakistan Stock Exchange Ltd.; Yousaf Hussain, President, OICCI and President & CEO, Faysal Bank Limited; Dr. Bakheet Ateeq Al Rumaithi, Consul General of the UAE;…

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