Category: News & Announcement

Amid the row over capacity payments, the independent power producers (IPPs) have offered the government to carry out a forensic audit by hiring a renowned chartered accountancy firm. In a meeting held between representatives of the IPPs and government officials on Thursday, sources quoted the IPPs as saying that if the government felt that power producers were involved in malpractices, it should carry out a forensic audit by hiring a renowned chartered accountancy firm. They added that if any evidence of wrongdoing or fraud was found, such IPPs should be…

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ISLAMABAD: During the much-awaited talks with the independent power producers (IPPs), the government here on Thursday placed a set of demands for material changes in power purchase agreements (PPAs) paving way to reduce the tariff for domestic, commercial and industrial sectors asking to provide ease to the people and making industry stand on its feet, a senior official who was part of the meeting told The News. A set of eight demands from the government was put in place knowing the fact that it will be tantamount to negation of…

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The government is focusing on wrong policy initiatives due to which the circular debt is ever increasing. In fact the recoveries of past years have been shown as increased collection when the regulator adjusted and allowed prior year adjustments in the distribution tariff. The wrong focus is on the generation cost and rewriting of the contracts whereas the actual malaise lies in the transmission and distribution systems and their attendant problems of corruption, inefficiency and mismanagement. By this strategy we are alienating investment and crucially the foreign direct investment by…

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KARACHI/ISLAMABAD: The Pakistan Sugar Mills Association (PSMA) submitted a detailed response on Thursday to the Federal Investigation Agency (FIA) over the sugar probe report, rejecting it and terming it “one-sided”. In a 45-page letter to the FIA Director-General, the PSMA said allegations leveled against the sugar mill owners were false and that the investigative agency had not included their view in the report following a probe into the recent sugar crisis. Should justice not be provided, the body will approach the courts, it warned. The PSMA also rejected the probe…

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The Covid-19 global pandemic has created unprecedented worldwide health and economic crisis. The energy sector, as a critical enabler of modern life, is uniquely affected by this crisis but is also essential for global and national response and recovery efforts. The impact caused by the coronavirus crisis has highlighted how much modern societies rely on energy sources like electricity. Electricity is critical for operating the ventilators and other medical equipment in the hospitals treating the soaring numbers of critical patients. Billions of people are now confined to their homes, resorting…

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