Category: Shortcode

Minister Targets Rs5 Tariff Cut through IPP Reforms, Highlights Reduced DISCO Losses

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Power-sector

ISLAMABAD: Federal Energy Minister Awais Leghari announced significant reforms in the power sector on Friday, including the termination of agreements with Independent Power Producers (IPPs) to reduce electricity tariffs. Speaking at a briefing hosted by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), he revealed that electricity rates could drop by Rs5 per unit following renegotiations with additional IPPs. “Contracts with five IPPs have already been terminated, and agreements with 11 more are underway. We’ve also reached new terms with bagasse-based plants,” Leghari stated. He emphasized the need…

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Pakistan to Import 200,000 Tonnes of Diesel Amid Rising Demand

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petroleum-imports

KARACHI: Pakistan is poised to import over 200,000 metric tonnes (MT) of high-speed diesel (HSD) in December, responding to a surge in demand fueled by increased legal sales and stricter anti-smuggling measures. The Oil and Gas Regulatory Authority (Ogra) has approved imports for four cargoes, with Pakistan State Oil (PSO) securing three under a long-term agreement with Kuwait Petroleum Corporation (KPC) and a private oil marketing company (OMC) managing one independently. Industry insiders suggest that additional imports may be necessary as demand continues to rise. Enhanced anti-smuggling efforts have significantly…

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Government Seeks IMF Flexibility on Gas Supply to Captive Power Plants

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IPPs-Project

ISLAMABAD: The government is navigating a critical challenge under the $7 billion IMF program, which mandates disconnecting Captive Power Plants (CPPs) from the gas supply by January 2025. This structural benchmark, intended to transition industries to grid electricity, has sparked concern among policymakers. In a high-level meeting chaired by Finance Minister Senator Muhammad Aurangzeb, four federal ministers, including those for commerce, petroleum, and power, discussed strategies to address the issue. The meeting concluded with a proposal to seek a six-month extension from the IMF for implementing the benchmark while pursuing…

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K-Electric Seeks Rs461 Million Refund for Consumers; NEPRA Hearing Scheduled

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K-Electric

ISLAMABAD: K-Electric has requested the National Electric Power Regulatory Authority (NEPRA) to approve a refund of Rs0.27 per unit to its consumers under the monthly Fuel Charges Adjustment (FCA) for October 2024, amounting to Rs461 million. NEPRA has scheduled a public hearing on December 5, 2024, to examine the petition. The hearing will evaluate the justification for the proposed FCA refund and assess whether K-Electric complied with the economic merit order in its power generation and procurement activities. In its petition, K-Electric stated that the adjustment aligns with NEPRA’s earlier…

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Petrol and Diesel Prices Likely to Remain Steady

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Petrol-Diesel

ISLAMABAD: The prices of major petroleum products are expected to see minimal changes for the next fortnight ending December 15, as slight shifts in international oil rates and a marginal improvement in the exchange rate balance out. According to industry sources, global prices for petrol and high-speed diesel (HSD) have risen slightly in the past two weeks, but recent declines and stable import premiums have kept the overall impact negligible. The rupee’s modest appreciation has further offset potential price hikes. Calculations as of November 28 suggest a minor increase of…

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