Category: Latest News

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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Shakeel Ahmed Appointed as Member Finance of OGRA for Two-Year Term

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OGRA

ISLAMABAD, July 19: The federal government has appointed Shakeel Ahmed as Member Finance of the Oil and Gas Regulatory Authority (OGRA), effective immediately. His appointment, made under Section 3(8)(c) of the OGRA Ordinance, is on a contract basis for a period of two years. Shakeel Ahmed brings extensive industry experience, having previously served as Chief Manager Procurement at Sui Southern Gas Company (SSGC) and as Managing Director of Sui Southern LPG Limited. The decision follows a nine-month delay in filling the position. A panel of three candidates was shortlisted, with…

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CPPA-G Proposes Rs 0.65/kWh Refund Under June FCA, Citing Lower Generation Costs

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Power-sector

ISLAMABAD, July 19: The Central Power Purchasing Agency–Guaranteed (CPPA-G) has requested the National Electric Power Regulatory Authority (NEPRA) to approve a negative Fuel Charges Adjustment (FCA) of Rs 0.6541 per unit for June 2025, aiming to refund approximately Rs 8.7 billion to electricity consumers. NEPRA is scheduled to conduct a public hearing on July 30 to assess CPPA-G’s request and provide an opportunity for consumer representatives to present their views. According to CPPA-G’s data, total energy generation in June stood at 13,744 GWh at a cost of Rs 108.166 billion,…

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