Author: Admin

Govt Forms Committee to Resolve Dispute Over OGDCL Share Transfer

Admin
ogdcl

ISLAMABAD: The federal government has formed a committee to address the dispute regarding the transfer of 322,460,900 shares of Oil and Gas Development Company Limited (OGDCL). The Ministry of Planning, Development, and Special Initiatives opposes the proposal to transfer these shares to the Ministry of Energy (Petroleum Division), recommending instead that they be transferred to the Pakistan Sovereign Wealth Fund (PSWF). In response to this disagreement, a committee led by Deputy Prime Minister and Foreign Minister Ishaq Dar has been established to review the legal implications of the share transfer.…

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NEPRA Dismisses CPPA-G’s Tariff Revision Petition for Star Hydro Power

Admin
Dam-Hydro

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has rejected the Central Power Purchasing Agency Guarantee Limited’s (CPPA-G) petition to modify the tariff for Star Hydro Power Company. The petition, which sought to revise the tariff by excluding Principal Debt Damages awarded by the London Court of International Arbitration (LCIA), was deemed inadmissible due to insufficient legal grounds. Star Hydro Power Limited (SHPL) operates a 147 MW Patrind Hydro Power Plant in Azad Jammu and Kashmir (AJ&K). NEPRA previously set the project’s levelized tariff in 2009 and approved the Power…

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Shehbaz Govt May Follow Imran Khan’s Lead on IPPs, but With Strategic Tweaks

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imran-shahbaz

ISLAMABAD: The Shehbaz Sharif-led government appears poised to adopt a similar approach to the Imran Khan administration in its dealings with Independent Power Producers (IPPs). This strategy includes reducing the Rate on Equity for public sector power plants, shutting down five Gencos to achieve a cost relief of up to Rs 4 per unit, and renegotiating existing contracts from a “take or pay” to a “take and pay” mechanism, according to well-placed sources. However, unlike previous efforts, this time the focus on addressing undue gains or profits by the IPPs…

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Call for CPEC to Become a Model Green Belt Initiative

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CPEC-new

LAHORE: The President of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), Moazzam Ghurki, has called for transforming the China-Pakistan Economic Corridor (CPEC) into a model green Belt and Road Initiative (BRI) to safeguard the natural environment in the region. Speaking at a think tank session held at the PCJCCI on Thursday, Ghurki highlighted that such a transformation would not only protect the environment but also boost the adoption of green technologies and the production of renewable energy within ongoing CPEC projects across the country. He emphasized that efforts…

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KCCI worried over delays in restoration of internet speed, social media apps

Admin
social-media

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while expressing deep concerns over slow internet connectivity and the subsequent faults as well as limited access to social media applications, stated that although it was assured that the internet connectivity would normalize upon installation of safety firewall but the issue persists which has resulted in terribly affecting all types of business activities.In a statement issued, President KCCI said that the Karachi Chamber has been receiving a large number of complaints from its member-firms who were finding it…

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