Category: Latest News

PESHAWAR: Khyber Pakhtunkhwa has completed 10 hydropower projects with a combined generation capacity of 224 megawatts, expected to generate annual revenue of around Rs13 billion for the province, Secretary Energy and Power Nisar Ahmad said on Wednesday. Presiding over a meeting, the secretary said that seven additional hydropower projects would be completed over the next two years, raising the province’s clean and low-cost energy capacity to about 1,000MW and increasing annual earnings to an estimated Rs55bn. He added that work was also underway on three flagship projects in Swat district,…

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KARACHI: K-Electric (KE) and Mega Motor Company (MMC), BYD’s partner in Pakistan, have signed a Memorandum of Understanding (MoU) for the provision of a dedicated 5MW power connection—scalable up to 7.5MW—to support BYD-MMC’s new energy vehicle (NEV) manufacturing operations in the country, which are scheduled to commence in 2026. Under the agreement, BYD-MMC will develop and finance a dedicated power supply arrangement, facilitated by K-Electric, to ensure reliable, flexible and uninterrupted energy availability as production volumes increase. The initiative is aimed at supporting BYD’s highly automated, technology-driven manufacturing processes in…

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ISLAMABAD: The debt burden on every Pakistani surged by 13 per cent to Rs333,000 during the last fiscal year, while public debt continued to pose a major challenge due to a widening budget deficit that exceeded the statutory limit by nearly Rs3 trillion, according to the annual Fiscal Policy Statement presented to Parliament. The Ministry of Finance reported that per capita debt rose from Rs294,098 in FY2023-24 to Rs333,041 in FY2024-25, reflecting an increase of about Rs39,000 within a year. The calculation is based on total public debt divided by…

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ISLAMABAD: Power Minister Sardar Awais Ahmed Khan Leghari on Wednesday withdrew an order that had deprived net-metered solar consumers of credit for electricity exported to the national grid, following widespread criticism and complaints. According to a statement issued by the Power Division, the minister took notice of the “non-crediting of units of net-metering consumers under PPMC instructions” and ordered an immediate review, resulting in the withdrawal of the directive. Informed sources said the Power Planning and Monitoring Company (PPMC) had earlier instructed distribution companies (Discos) and the Power Information Technology…

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ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has disputed the Power Division’s circular debt report, terming it a result of technical adjustments, accounting reclassifications, and shifting benchmarks rather than any real improvement in power sector efficiency. In an analysis shared with Nepra and leading business houses, FPCCI alleged that financial liabilities were being parked off balance sheets, particularly rising payables of K-Electric, while fiscal injections from taxpayer money were used to show slower growth in circular debt instead of addressing structural issues such as cross-subsidies imposed…

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