Author: Admin

K-Electric Reports Rs44 Billion Loss in 2024 Due to Theft, Billing Irregularities

Admin
K-Electric

ISLAMABAD: K-Electric (KE) has reported a staggering Rs44 billion loss in 2024 alone, driven by rampant electricity theft through the illegal kunda system, non-metered usage, and unpaid bills, senior company officials informed the National Assembly’s Standing Committee on Government Assurances on Monday. Chaired by MNA Nuzhat Sadiq, the committee lambasted KE for its persistent operational failures, including unscheduled load-shedding and reliance on average-based billing, despite receiving substantial federal support. Lawmakers directed KE to immediately halt unannounced power outages and work with local representatives to expand metered coverage. The committee emphasized…

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PMO Urges Swift Action on DISCOs’ Privatisation and Provincialisation Roadmap

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PM-Office

ISLAMABAD: The Prime Minister’s Office (PMO) has instructed the Power Division to expedite consultations and finalize proposals regarding the privatisation and provincialisation of power distribution companies (DISCOs), according to informed sources. The finalized roadmap is to be developed through the Task Force on Power Sector Reforms and submitted to the Steering Committee on DISCOs Privatisation. In a significant decision, the Cabinet approved the outright privatisation of three DISCOs—Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO)—in its meeting held on August 13, 2024,…

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🌞 Fast Cables Expands Solar Power Capacity to 3MW, Boosting Industrial Clean Energy Drive

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Fast-Cables

ISLAMABAD: Fast Cables Limited, one of Pakistan’s premier electrical cable manufacturers, has expanded its solar energy footprint by successfully commissioning an additional 1.1MW solar power system at its manufacturing facility. With this latest installation, the company’s total solar generation capacity now stands at 3MW, according to a filing with the Pakistan Stock Exchange (PSX) on Tuesday. “This is in addition to the previously installed 1.9MW capacity,” stated the company. “The expanded system will enable Fast Cables to meet a significant portion of its energy requirements through clean and renewable sources.”…

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🔧 Attock Refinery Temporarily Shuts Main Crude Unit Amid Supply Shortage

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New-ARL

ISLAMABAD: Attock Refinery Limited (ARL) has announced the temporary shutdown of its main crude distillation unit due to a severe shortage of crude oil, according to a regulatory filing made Tuesday at the Pakistan Stock Exchange (PSX). In its notice, the refinery stated: “We wish to inform you that ARL has shut down its main crude distillation unit (32,400 barrels per stream day capacity) due to very low crude stocks.” The shutdown, which began this week, is expected to continue until June 01, 2025. The company attributed the shortfall in…

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IMF-Pakistan Budget Dispute Delays Federal Budget 2025-26 Announcement

Admin

ISLAMABAD:The announcement of Pakistan’s Federal Budget 2025-26 has been delayed from June 2 to June 10 due to key disagreements with the International Monetary Fund (IMF) over budgetary targets, particularly subsidy allocations, the Finance Ministry confirmed on Monday. Speaking during a meeting of the Sub-Committee of the National Assembly Standing Committee on Commerce, chaired by Khurshid Ahmed Junejo, Joint Secretary (Corporate Finance) Sajjad Azhar outlined ongoing challenges in finalizing the budget, citing IMF restrictions under the Extended Fund Facility (EFF). “The IMF has placed a cap on subsidies, and the…

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