Author: Admin

Power Division Fails to Meet PMO’s Key Energy Sector Tasks

Admin
Power-Division

ISLAMABAD: The Power Division has reportedly fallen behind on a majority of tasks assigned by the Prime Minister’s Office (PMO) through the Task Management System (TMS), including the critical establishment of a competitive electricity market. Of the 147 tasks assigned, only 53 have been completed, with 77 overdue and 17 still in progress, according to PMO sources. The review highlighted concerns regarding delays in key initiatives. Notably, the Boards of the Private Power and Infrastructure Board (PPIB) and the National Energy Efficiency and Conservation Authority (NEECA) remain incomplete, hindering progress…

Read More

DFIs Request NEPRA to Update Tariff Rates for IPPs Amid LIBOR Replacement

Admin
Power-sector

ISLAMABAD: Development Finance Institutions (DFIs) with financial stakes in Independent Power Producers (IPPs) have approached the National Electric Power Regulatory Authority (NEPRA) Chairman to revise tariff determinations, adjusting the benchmark interest rate from the London Interbank Offered Rate (LIBOR) to Term SOFR (Secured Overnight Financing Rate) plus Credit Adjustment Spread (CAS), sources in NEPRA report. DFIs, including the Asian Development Bank (ADB), British International Investment Plc (BII), International Finance Corporation (IFC), Islamic Development Bank (ISDB), and others, have extended financing to various IPPs in Pakistan. Previously, the energy tariffs and…

Read More

Denmark and SDPI Launch Second Phase to Boost Pakistan’s Carbon Market Potential

Admin
New-SDPI

ISLAMABAD: The Sustainable Development Policy Institute (SDPI) and the Embassy of Denmark in Pakistan have commenced the second phase of their initiative, Unlocking the Potential of Carbon Markets in Pakistan, aimed at enhancing industry and SME access to carbon markets. At a reception attended by diplomats, policymakers, and industry leaders, Danish Ambassador Jakob Linulf highlighted the project’s achievements in bridging knowledge gaps and strengthening federal-provincial collaborations. “With Danish expertise and SDPI’s support, we are now empowering businesses to capitalize on economic opportunities in carbon markets, advancing Pakistan’s climate goals,” Linulf…

Read More

Debt-Based Climate Financing Must End, PM Shehbaz Stresses at COP29

Admin
COP29-World

At the COP29 World Leaders Climate Action Summit in Baku, Azerbaijan, Prime Minister Shehbaz Sharif called for a global overhaul in climate financing, urging that debt-based funding should no longer be the norm. Addressing the Climate Finance Round Table Conference, organized by Pakistan, PM Shehbaz highlighted the need for innovative, debt-free financing solutions to support developing countries in combating climate change without increasing their financial burdens. “We stand at a crucial threshold where the global climate finance framework must be redefined to meet the urgent needs of vulnerable nations,” he…

Read More

IMF Seeks Progress on Pakistan’s Digital Revenue Overhaul, Eyes Power Sector Reforms

Admin
pak-imf

Finance minister meets IMF mission chief for introductory talks Pakistan to redirect gas from captive power plants (CPPs) to national grid by January 2025Joint session with power and petroleum divisions to address energy sector challenges ISLAMABAD: The International Monetary Fund (IMF) has requested an in-depth, results-oriented update on Pakistan’s revenue system digitalisation efforts, focusing on AI-driven initiatives to expand the tax base and improve collections. Alongside these fiscal objectives, power sector reforms, especially those addressing the circular debt and gas supply policies, are high on the agenda. A critical reform…

Read More