Category: Latest News

Govt Considers Delinking Hydel Profit from Electricity Tariff to Ease Burden on Consumers

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Power-sector

ISLAMABAD: The Power Division has urged the federal government to delink Net Hydel Profit (NHP) payments from electricity tariffs, warning that passing on Rs170 billion in arrears to consumers would jeopardize power sector reforms and investor confidence. In a report submitted to the Council of Common Interests (CCI), the division proposed that NHP dues owed to Khyber Pakhtunkhwa and Punjab be settled through the federal budget or from WAPDA’s hydropower earnings, rather than being included in electricity bills. It noted that the existing tariff-based NHP model is outdated, fiscally unsustainable,…

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SSGC Approves Agreement with JJVL to Resume LPG, NGL Extraction Operations

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ssgc-ae

KARACHI: Sui Southern Gas Company Limited (SSGC) has approved a key agreement with Jamshoro Joint Venture Limited (JJVL) to restart the extraction of liquefied petroleum gas (LPG) and natural gas liquids (NGL), the company announced in a filing to the Pakistan Stock Exchange (PSX) on Friday. The decision was taken at an SSGC Board of Directors meeting held on July 17, 2025, at the company’s head office. The agreement—initialled by both parties—has also been endorsed by the Special Investment Facilitation Council (SIFC), a federal body focused on boosting strategic investments.…

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Govt to Scrap Gas Cross-Subsidies by 2026; Balochistan Tariff Dispute Deepens

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Gas-Sale

ISLAMABAD: The federal government is preparing to phase out cross-subsidies for residential gas consumers by 2026, replacing them with a direct, income-based subsidy model aligned with the Benazir Income Support Programme (BISP). This reform is part of ongoing negotiations with the International Monetary Fund (IMF) under the Resilience and Sustainability Facility. During a recent cabinet briefing, the Petroleum Division disclosed that advisory firm KPMG has been hired to develop the new subsidy framework, and a dedicated task force is actively working on implementation. Currently, over Rs150 billion in cross-subsidies are…

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JSCL Merges Quality Energy Solutions with Energy Infrastructure Holding

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New-Project10

KARACHI: Jahangir Siddiqui and Company Limited (JSCL) has announced the merger of its subsidiaries—Quality Energy Solutions (Private) Limited and Energy Infrastructure Holding (Private) Limited—marking a strategic consolidation in its energy portfolio. In a notice to the Pakistan Stock Exchange (PSX) on Wednesday, JSCL confirmed that the Securities and Exchange Commission of Pakistan (SECP) has approved the merger, effective from May 31, 2025. JSCL, incorporated on May 4, 1991, under the former Companies Ordinance, 1984, operates as a public unquoted company. Its core activities include managing strategic investments, securities trading, and…

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Hubco Seeks Extended Bank Guarantees to Safeguard Coal Power Projects

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New-Hubco

KARACHI: Hub Power Company (Hubco), Pakistan’s largest independent power producer, is seeking an extension of \$51 million in bank guarantees to ensure the continued operation of its coal-fired power plants amid evolving energy sector dynamics and rising solar adoption. In a notice to the Pakistan Stock Exchange, Hubco announced its plan to extend the duration of these guarantees—previously short-term—until 2034. The extended backing aims to cover future loan repayments and potential penalties, helping secure the financial stability of its two 330-megawatt plants that run on locally mined coal. The move…

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