Category: Shortcode

Delays in Appointing Financial Advisers for Power Firms Spark Senate Panel’s Concern

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Sahiwal-Power

ISLAMABAD: The federal government has yet to appoint financial advisers (FAs) for three power distribution companies (Discos) and two generation companies (Gencos) earmarked for the initial phase of privatisation, drawing criticism from the Senate Standing Committee on Power. Presided over by Senator Mohsin Aziz, the committee expressed displeasure at the absence of Power Minister Awais Leghari and Secretary Power Dr. Fakhre Alam, despite prior commitments. The meeting agenda included negotiations with independent power producers (IPPs) and discussions on asset disposal and employee liabilities related to privatisation, which were deferred due…

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Provinces Directed to Settle Rs150bn Power Dues to Avoid Supply Disruptions

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Power-sector

ISLAMABAD: The federal government has urged all four provincial administrations to clear outstanding electricity bills amounting to Rs150 billion to prevent power cuts and mitigate financial strain on the national economy. In letters addressed to the chief ministers, Power Minister Awais Ahmad Khan Leghari called for urgent intervention to ensure the clearance of dues owed by provincial departments. He cautioned that with the limited financial resources available to Distribution Companies (Discos), sustaining uninterrupted power supply would be challenging, further exacerbating the circular debt crisis. According to the minister, the Sindh…

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Ogra Approves Export of Additional 80,000 MT of Furnace Oil

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OGRA

KARACHI: The Oil and Gas Regulatory Authority (Ogra) has granted approval for the export of an additional 80,000 metric tonnes (MT) of furnace oil to address surplus stock amid declining domestic demand. The new approval includes 50,000MT for Pak-Arab Refinery Limited (Parco) and 30,000MT for National Refinery Limited (NRL). Parco is authorized to export its allocation during the fourth week of December, while NRL will export 15,000MT each from Port Qasim and Kemari Port during the same period. This follows an earlier decision allowing Cnergyico Pakistan Limited (CPL) to export…

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SIFC to Address Key Energy Sector Challenges Today

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SIFC-body

ISLAMABAD: The Special Investment Facilitation Council (SIFC) is set to deliberate on critical energy sector issues in a high-stakes meeting today (Wednesday). The agenda includes significant matters from the petroleum and power divisions, such as the proposed sale of 35% gas from new discoveries to third parties and amendments to the Greenfield Refineries Policy. Key discussions will revolve around the upgradation of the Brownfield Refineries Policy and regulatory interventions related to the Exploration and Production (E&P) sector. The council will review progress on offshore oil and gas exploration and address…

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K-Electric’s Rs68bn Write-Off Plea Faces Strong Resistance

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circular-debt-K-electric-ceo

ISLAMABAD: K-Electric’s request to write off Rs68 billion in ‘unrecoverable dues’ from defaulters has met fierce opposition from stakeholders, who argue it would unfairly burden taxpayers and honest consumers through budgetary subsidies and tariff adjustments. The Karachi-based utility submitted the claim for losses incurred over seven years (FY2017-2023) under a 2018 tariff determination that permitted a 1.69% provision for recovery shortfalls. KE’s CEO, Moonis Alvi, and CFO, Amir Ghaziani, defended the plea as a rightful claim, suggesting the amount be absorbed into consumer tariffs or subsidized by the federal government.…

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