Category: Highlights

KARACHI: In a major breakthrough, K-Electric and Pakistan LNG Limited (PLL) have entered into an initial Gas Supply Agreement (GSA) for the supply of 150mmcfd RLNG for K-Electric’s flagship 900MW power plant at Port Qasim (BQPS-III). The GSA will be executed promptly after the approval of the Oil & Gas Regulatory Authority (Ogra), sources at KE told the Business Recorder. “The GSA has been finalized and initialed by KE’s CEO Moonis Abdullah Alvi and PLL’s Managing Director Masood Nabi on June 4, 2021,” they said. Once fully operational, the $650…

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As the Budget 2021-2022 was presented in the National Assembly on Friday, one thing was clear: the government was aiming to please as much of the population as it could. Earlier in the day, Prime Minister Imran Khan had said “everyone would be happy” with the budget and the reduction of taxes on several industries seemed to reflect that. The budget included exemptions and relief measures for nearly all industries, and new businesses and products being brought into the tax net seemed far fewer in comparison. The automobile sector was a heavy…

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Pakistan’s power crisis has gotten worse, with load-shedding extending up to several hours at a stretch in different cities. According to the latest figures provided by sources in the power division, the country is facing an electricity shortfall of somewhere between 7,000 and 8,000 megawatts. Due to a mudslide at the Tarbela Dam, power generation was stopped and machinery has also likely been damaged. According to sources, it will take time for power generation to be up and running again at the Tarbela Dam. Unannounced load-shedding has reached its peak…

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As the government is encouraging utilisation of renewable energy technology at the consumer end, The National Electric Power Regulatory Authority (Nepra) issued a total of 5,283 new licences for net-metering-based installation of approximately 90.15MW during the July 2020 to March 2021, the Economic Survey suggests. “As of 31st March, 2021, a total of 10,563 generation licences for net-metering-based solar installations with a cumulative capacity of 181.27MW had been issued by [the] National Electric Power Regulatory Authority.” The government announced a new Alternative Renewable Energy (ARE) Policy 2019 in October 2020.…

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Saudi Arabia has approved a funding of 901 million Saudi Riyal (Rs. 37.4 billion) for the construction of Mohmand Hydropower Dam, says the Economic Affairs Ministry. According to an official statement issued by the Ministry, Saudi Arabia Ambassador to Pakistan Nawaf Bin Said Al-Maliki met the federal minister for Economic Affairs Omar Ayub Khan here on Wednesday. The Saudi Ambassador briefed the Minister of Economic Affairs on the recent successful visit of the Prime Minister of Pakistan Imran Khan to Saudi Arabia. According to the Ministry, the Saudi envoy shared…

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