Category: Shortcode

Petroleum Division Holds Key Meeting on Sales Tax Exemption for Petroleum Products

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Petroleum-Sector

KARACHI/ISLAMABAD: The Petroleum Division has convened an important meeting with oil sector stakeholders to discuss the challenges posed by sales tax exemptions on petroleum products. This meeting, taking place today (Tuesday), follows directives from the Special Investment Facilitation Council (SIFC) urging swift action on refinery upgradation agreements. Representatives from refineries, oil marketing companies, the Oil Companies Advisory Council (OCAC), and the Federal Board of Revenue (FBR) are participating in the discussions. The focus is on resolving the tax exemption issue, which has delayed significant infrastructure investments in refinery upgradations. Industry…

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Construction of Chashma Nuclear Power Plant Unit 5 Begins, Strengthening Pak-China Energy Collaboration

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Nuclear-Power

ISLAMABAD: Pakistan achieved a significant milestone in its energy sector as the construction of Chashma Nuclear Power Plant Unit 5 (C-5) officially began with the first concrete pouring ceremony. The event, held on Monday, was attended by key dignitaries including Chinese Ambassador Jiang Zaidong, Minister for Planning, Development & Special Initiatives Ahsan Iqbal, and Chairman of the Pakistan Atomic Energy Commission (PAEC), Dr. Raja Ali Raza Anwar. The groundbreaking ceremony for this ambitious project was presided over by Prime Minister Shehbaz Sharif in July 2023. With Chinese support, C-5 is…

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K-Electric Seeks Rs 4.98/kWh Relief for November FCA

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K-Electric-3

KARACHI: K-Electric has submitted a provisional monthly Fuel Charge Adjustment (FCA) request for November 2024, proposing a relief of Rs 4.98 per kilowatt-hour (kWh) for its customers. The National Electric Power Regulatory Authority (NEPRA) will conduct a public hearing on January 15, 2025, to determine the FCA amount and specify the period for its application in customer bills. In a related development, the Central Power Purchasing Agency-Guaranteed (CPPA-G) has sought a negative adjustment of 0.63 paisa per unit in XWDiscos’ tariffs for November. Notably, this marks the third consecutive month…

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Privatisation of Three DISCOs Progresses Toward 2025 Deadline

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Power genration

ISLAMABAD: The government is accelerating efforts to privatize three power Distribution Companies (DISCOs)—Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO)—with the goal of completing the process by the end of 2025. According to Minister for Power Sardar Awais Ahmad Khan Leghari, the Financial Advisor (FA) will structure the transaction based on completed assignments, with final approval sought from the Cabinet Committee on Privatisation (CCoP) before the transaction enters the market. The Ministry of Privatisation, in collaboration with the Power Division and the…

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KAPCO Welcomes Shahab Qader as New CEO

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Shahab-Qader

Lahore, December 30, 2024: The Board of Directors of Kot Addu Power Company Limited (KAPCO) has announced the appointment of Mr. Shahab Qader Khan as the Chief Executive Officer (CEO) for a term of three years. His tenure will officially commence on January 22, 2025, and conclude on January 21, 2028. This decision underscores the company’s commitment to fostering strong leadership to drive strategic growth and operational excellence. Mr. Shahab Qader Khan brings a wealth of experience and expertise to the role, ensuring the company remains at the forefront of…

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