Author: Admin

Host Country Approval for New Investor in 100MW MIRA Power Project Nears Finalization: PPIB

Admin
Power-Project

ISLAMABAD: The government is set to grant Host Country Approval for amended guarantee coverage in favor of a new investor for the 100MW MIRA Power Limited hydropower project in Azad Jammu and Kashmir (AJ&K), sources from the Private Power and Infrastructure Board (PPIB) revealed. At a recent PPIB meeting, Managing Director Shah Jahan Mirza briefed attendees on the exit of one of MIRA Power’s shareholders, Sambu Construction, and the upcoming transfer of DAELIM’s shareholding to its affiliate, DL E&C. The Power Division and other key ministries are currently reviewing the…

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Govt Proposes ‘Take and Pay’ Options for 18 IPPs Amid Power Sector Reforms

Admin
New-IPPS

ISLAMABAD: The government has tailored four customized ‘take and pay’ options for 18 Independent Power Producers (IPPs) established under the Power Generation Policies of 1994 and 2002, as part of its ongoing efforts to reform the power sector. According to sources, these options will be finalized by the end of the week, with formal notices expected to be issued next week. The Central Power Purchasing Agency-Guaranteed (CPPA-G) has already halted payments to these IPPs, which collectively generate 4,267 MW, pending negotiations on their contract revisions. Some IPPs have already consented…

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Pakistan and China Reaffirm Unbreakable Ties Amid Global Challenges

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Pakistan-China

ISLAMABAD: Pakistan and China have reaffirmed their commitment to strengthening cooperation and building a closer community with a shared future. In a joint statement issued during the Shanghai Cooperation Organisation (SCO) summit, both nations emphasized the strategic significance of their relationship in a rapidly changing global landscape. The statement underscored that any attempt to disrupt Sino-Pak ties is destined to fail. Both sides highlighted the high-quality and all-encompassing nature of their bilateral relations. China reaffirmed that Pakistan remains a priority in its foreign policy, while Pakistan reiterated that its relationship…

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PM Shehbaz Chairs SCO Summit, Highlights Trade and Regional Cooperation

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Chairs-SCO

ISLAMABAD: Prime Minister Shehbaz Sharif is presiding over the highly anticipated 23rd summit of the Council of the Heads of Government (CHG) of the Shanghai Cooperation Organisation (SCO) at the Jinnah Convention Centre, Islamabad. The SCO includes China, India, Russia, Pakistan, Iran, and Central Asian nations, with 16 additional countries as observers or dialogue partners. Pakistan became a full member in 2017 under former PM Nawaz Sharif. In his opening remarks, PM Shehbaz emphasized trade, economic cooperation, and regional connectivity among member states. The summit will approve the SCO budget…

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Diesel Price Increases for the First Time in Three Months, Petrol Unchanged

Admin
Diesel-Price

ISLAMABAD: The government has raised the price of high-speed diesel (HSD) by Rs5 per litre, marking the first increase in three months, while the petrol price remains unchanged for the next fortnight. According to an official announcement, the ex-depot price of diesel has been revised to Rs251.29 per litre, up from Rs246.29, while petrol stays at Rs247.03 per litre. In the retail market, diesel is being sold for Rs252 and petrol for around Rs248.50 per litre. The Oil and Gas Regulatory Authority (OGRA) calculated the revised prices based on global…

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