Category: Latest News

Abandoning Costly Power Procurement to Save $17bn, Says Power Minister

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Awais-Leghari

ISLAMABAD: Federal Minister for Power Sardar Awais Ahmed Khan Leghari has said the government has abandoned the procurement of around 8,000 megawatts of expensive electricity purely on merit, a move expected to save nearly USD 17 billion. Addressing a news conference on Sunday, the minister said losses of power distribution companies are being absorbed by the federal government instead of being passed on to consumers. He added that wide-ranging power sector reforms are underway, leading to improved recoveries and a significant reduction in losses and circular debt. According to Leghari,…

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KE Accuses Power Division of Violating SHC Interim Orders on Tariff Differential Subsidy

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K-Electric

ISLAMABAD: K-Electric (KE) has strongly criticised the Power Division for actions related to the Tariff Differential Subsidy (TDS), terming them a clear violation of interim orders issued by the Sindh High Court (SHC). In a letter to the Additional Secretary (Power Finance), KE CEO Syed Moonis Abdullah Alvi warned the Ministry of Energy (MoE) to immediately cease and desist from implementing or acting upon review tariff determinations that are sub judice. KE maintained that the review tariffs have neither been notified nor attained legal finality and therefore fall squarely under…

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KCCI CALLS EMERGENT MEETING ON SUNDAY KCCI Constitutes Gul Plaza Fire Incident Committee; Appeals for Immediate Relief and Compensation

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Gul-Plaza

KARACHI: In the wake of the tragic fire that engulfed Gul Plaza on M.A. Jinnah Road, resulting in the irreparable loss of precious human lives and the destruction of one of Karachi’s busiest commercial centers, an emergent meeting was held at the Karachi Chamber of Commerce and Industry (KCCI) on Sunday wherein formation of Gul Plaza Fire Incident Committee was announced to coordinate relief activities, assess damages, and formally appeal to the government for compensation and rehabilitation of affected traders.The Committee has been formed by Chairman Businessmen Group (BMG) Zubair…

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Cherat Cement to Invest Rs1.85bn in Battery Storage and Solar Expansion

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soalr energy

Islamabad: Cherat Cement Company Limited (CHCC) has approved an investment of Rs1.85 billion to install a 25 megawatt (MW) Battery Energy Storage System (BESS) along with an additional 5.4MW solar power plant at its manufacturing facility in Nowshera, Khyber Pakhtunkhwa, as part of efforts to reduce rising electricity costs and expand renewable energy usage. The decision was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Friday. According to the company, the project was approved by its Board of Directors through a circular resolution and is expected to…

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Mari Energies-Backed Sky47 Launches Cloud, AI Infrastructure Platform Near Islamabad

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New-Mari1

Islamabad: Sky47 Limited, a majority-owned subsidiary of Mari Energies Limited, has formally entered Pakistan’s high-tech sector with the launch of its first cloud and artificial intelligence (AI) infrastructure platform near Islamabad. The development was disclosed by Mari Energies Limited (MARI) in a notice to the Pakistan Stock Exchange (PSX) on Friday. According to the notice, Sky47, through its wholly owned subsidiary Mari Technologies Limited, has established the facility at the Silicon Valley of Capital Smart City, marking a significant milestone in the group’s diversification into digital and advanced technologies. The…

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