Category: Highlights

Unresolved Tariff Issues Hinder US Investment in Pakistan’s Wind Projects

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wind-energy

ISLAMABAD: A delegation from the United States Treasury Department, led by Assistant Secretary Brent Neiman, addressed critical power sector challenges during their visit to Islamabad, focusing on issues such as circular debt and tariffs for wind projects. The delegation’s two-day visit aims to assess Pakistan’s economic situation, the potential for a new IMF program, and the overall business and investment environment. Sources indicate significant disputes between Washington and Islamabad regarding wind project tariffs. The US has communicated that until the tariff issues for the existing five wind power projects are…

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ECC Approves Rs9 Billion for Clearing OMCs’ Price Differential Claims

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ECC-PSO

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the release of Rs9 billion to clear outstanding price differential claims of Oil Marketing Companies (OMCs), including Pakistan State Oil (PSO). The decision was made during an ECC meeting chaired by Finance Minister Muhammad Aurangzeb. The Petroleum Division’s proposal to allocate Rs9 billion for the payment of these claims was approved, addressing the financial backlog faced by the OMCs. The ECC meeting also sanctioned several Technical Supplementary Grants (TSGs) amounting to around Rs244 billion for various ministries and divisions.…

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500 MW Floating Solar Energy Project To Be Setup At Keenjhar LakeGO Energy and Sindh Transmission & Dispatch Company (STDC) sign MoU

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mou

Karachi 13 June 2024: GO Energy and Sindh Transmission & Dispatch Company (STDC) today signed a MoU for the transmission evacuation of a 500 MW Floating Solar Project at Keenjhar Lake, Sindh, Pakistan. The Honourable Syed Nasir Hussain Shah, Minister for Energy, Government of Sindh was the Chief Guest at the signing ceremony held in Karachi today. Other dignitaries present at the occasion included Mr. Musaddiq Ali Khan, Secretary Energy, Government of Sindh, Mr. M. Saleem Shaikh, CEO Sindh Transmission & Dispatch Company, Mr. Ammar Ali, CEO, GO Energy &…

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Dargai Rehabilitation Project: WAPDA awards Rs. 10.6 billion contract for civil, electro-mechanical works

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Dargai-Hydel

June 13, 2024: WAPDA awarded the contract for civil and electro-mechanical works for rehabilitation of Dargai Hydel Power Station worth Rs. 10.6 billion to a Joint Venture (JV), comprising two Chinese and a Pakistani firm.   General Manager (Hydel Development) WAPDA Ihsan Ullah and authorized representative of the JV Nabeel Tahir signed the contract on behalf of their organizations. Chairman WAPDA Engr Lt Gen Sajjad Ghani (Retd), Member (Power) WAPDA Jamil Akhtar, WAPDA officers, representatives of AFD, the consultants and the contractors were also present in the contract signing ceremony. …

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OGDCL Celebrates Victory in President’s Trophy Grade-II as its Cricket Team Qualifies for First-Class Cricket

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New-OGDCL

ISLAMABAD, June 13, 2024: Oil and Gas Development Company Limited (OGDCL) on Thursday celebrated its cricket team’s victory in the President’s Trophy Grade-II 2023-24. The OGDCL cricket team has won the President’s Trophy Grade-II 2023-24 and qualified for first-class cricket. In the final four-day match, played at Abbottabad Cricket Stadium, OGDCL defeated Eshaal Associates.OGDCL organized a special event at its head office in Islamabad to celebrate the victory and honor the cricket team’s outstanding achievement. The event was attended by the company’s senior management, employees, and the victorious cricket team.…

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