Category: Highlights

Karachi: Atif Ikram Sheikh, President FPCCI, has apprised that the business, industry and trade community of Pakistan is disappointed with the monetary policy as it continues to be based on a heavy premium vis-à-vis core inflation. While we appreciate the rate cut by 200 bps or 2 percent, this is too little, too late in the context of price data – domestically & internationally, he added. Mr. Atif Ikram Sheikh pointed out that core inflation clocked at 9.6 percent in Pakistan during August 2024 as per government’s own available data…

PESHAWAR: The Sarhad Chamber of Commerce and Industry (SCCI) has filed a writ petition in the Peshawar High Court, challenging the agreements with Independent Power Producers (IPPs). The petition calls for a forensic audit of all IPP contracts, aiming to address the issue of excessive payouts and bring relief to power consumers. The plea opposes the renewal of existing IPP agreements and the signing of new contracts, urging the court to implement recommendations from the Senate Standing Committee on Power regarding the excess profits made by IPPs reliant on RFO…

ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has recommended postponing the inauguration of the 884 MW Suki Kinari Hydropower Project until the achievement of its Commercial Operation Date (COD), sources told Business Recorder. The project company reported that the Reliability Run Test (RRT), required under the Power Purchase Agreement, began on August 30, 2024. However, after nearly completing the 168-hour continuous test, one of the four power generation units tripped, halting the process. The test was restarted on September 6 and is expected to conclude by September 13. The…