Category: Highlights

The Caretaker Federal Minister for Energy held meeting with PSO and OMCs

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pso

Karachi: September, 11, 2023. The Federal Minister for Energy Muhammad Ali hold important meeting with PSO management at PSO House Karachi. The Minister was briefed by the Managing Director Pakistan State Oil(PSO), Syed Muhammad Taha regarding overall performance and challenges being faced by the PSO. The Managing Director of PSO apprised the Minister that the PSO had an extensive network of 3500 outlets nationwide. The caretaker Federal Minister directed the PSO management to minimise the circular debt, being the Pakistan’s leading energy company. The meeting was attended by the Chairman,…

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LONGi announces 2023 H1 business results

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LONGi-solar

LONGi announces 2023 H1 business results September 8, 2023 Xi’an, China, August 30, 2023- LONGi, the world leading solar technology company headquartered in Xi’an, released its business results for the first half of 2023 today. In the first half of 2023, LONGi generated CNY 64.652 billion in revenue, with a YoY increase of 28.36% and achieved CNY 9.178 billion in net profit attributable to shareholders of the listed company, with a YoY increase of 41.63%. In the first half of 2023, the company’s net profit growth far exceeded revenue growth, with a net profit…

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Economic update for August: Upward adjustment in energy tariffs, fuel price hike to strain inflationary pressures: MoF

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economy

ISLAMABAD: The Finance Ministry Wednesday said the upward adjustment in energy tariffs and further increase in fuel prices would strain the inflationary pressures in coming months. In its monthly, “Economic Update and Outlook” for August 2023 released on Wednesday, the Finance Ministry said the two massive fuel price hikes witnessed in August 2023 and upward adjustment in energy tariffs would strain the inflationary pressures in coming months. Inflation is anticipated to remain around 29 to 31 percent in August 2023 as the two times raise in fuel prices drives a…

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New power bills proposal sent to IMF

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IMF-demand

ISLAMABAD: After the rejection of the first one, the caretaker government has sent a fresh proposal to the International Monetary Fund (IMF) that the additional money allocated for the independent power producers (IPPs) could be adjusted to provide relief to the consumers, who were protesting against the exorbitant rise in their electricity bills. Finance ministry sources said under the new plan, an amount of over Rs15 billion would be allocated back to IPPs after receiving instalments from the bills. The sources added that the finance ministry officials would discuss the…

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Karachiites Likely to Face Another Massive Hike in Electricity Bills

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KE

An appeal for a price hike in electricity rates in Karachi has been formally submitted, with a request for an increment of 10 rupees and 32 paise per unit. The application, directed to Nepra, encompasses three separate quarterly adjustments for the fiscal year 2022-23.In the submission presented by the government to Nepra, the initial quarterly adjustment for the period of October-December 2022 has sought a raise of 47 paise, while the subsequent quarterly adjustment for July-September 2022 is targeted at an increase of Rs 4.45 per unit. The application forwarded…

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