Category: Latest News

Govt Faces Dilemma Over CPEC Power Plants in Circular Debt Settlement Plan

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Power-Tariff

ISLAMABAD: The government is facing a critical challenge in distributing payments to Independent Power Producers (IPPs) under its Rs1,275 billion circular debt settlement plan, as Chinese IPPs operating under the China-Pakistan Economic Corridor (CPEC) have not agreed to revise their Power Purchase Agreements (PPAs). A senior Power Division official confirmed that while negotiations have progressed with many local IPPs to revise contracts for cost relief, the treatment of Chinese power projects remains a sticking point. “The dues owed to CPEC power plants have now soared to Rs48 billion,” the official…

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China Launches World’s Largest Hydropower Dam in Tibet, Sparking Concern in India

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Global-Hydropower

BEIJING: Chinese Premier Li Qiang has officially launched the construction of a mega hydropower project on the Tibetan Plateau, which is expected to become the world’s largest hydroelectric facility. The dam, located on the lower reaches of the Yarlung Tsangpo River in Nyingchi, Tibet, has triggered alarm in India and Bangladesh over potential downstream impacts. The Yarlung Tsangpo River flows into India as the Brahmaputra, passing through Arunachal Pradesh and Assam before entering Bangladesh. Concerns have been raised about the project’s possible effects on water availability, food security, environmental stability,…

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Fatemi Slams Missed NEPRA-Korean Delegation Meeting Amid Investment Concerns

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Power genration

ISLAMABAD: Special Assistant to the Prime Minister on Foreign Affairs, Syed Tariq Fatemi, has voiced strong dissatisfaction over the failure of authorities—particularly the Power Division—to arrange a scheduled meeting between the NEPRA Chairman and a high-level delegation from Korea South-East Power Co. Ltd. (KOEN). The missed engagement has sparked serious concerns amid KOEN’s ongoing efforts to push its hydropower projects into Pakistan’s Indicative Generation Capacity Expansion Plan (IGCEP) 2025–35. According to sources, Fatemi—who also plays a key role in foreign investment facilitation—formally conveyed his disappointment to all relevant ministries and…

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FBR Imposes Green Levy to Promote Electric Vehicle Adoption

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electric-vehicles

ISLAMABAD: In a move to promote electric vehicles (EVs) and reduce reliance on fossil fuels, the Federal Board of Revenue (FBR) has introduced a new Energy Vehicle Adoption Levy on all locally manufactured, assembled, and imported internal combustion engine (ICE) vehicles. The FBR’s notification, issued under the First Schedule of the Finance Act, outlines a tiered ad valorem levy structure designed to favour environmentally friendly vehicles over conventional fuel-powered ones. The measure is part of a broader push to accelerate the shift toward low-emission, energy-efficient transportation. Under the new regime,…

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SECMC, Meezan Bank Ink Islamic Financing Deal for Thar Coal Mine Expansion

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SECMC-Meezan

KARACHI, July 19: Sindh Engro Coal Mining Company (SECMC) and Meezan Bank have signed an Islamic Facility Agreement to finance Phase III expansion of the Thar Block II coal mine, aiming to increase coal production from 7.6 million tonnes per annum (MTPA) to 11.2 MTPA. The financing arrangement is led by Meezan Bank and includes a syndicate of United Bank Limited, Askari Bank Limited, Sindh Bank Limited, and Pakistan-China Investment Company Limited. SECMC, a public-private partnership backed by the Sindh government, began commercial operations in 2019 and scaled production to…

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