Category: Shortcode

Moazzam Ilyas Appointed as PQA Chairman

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Moazzam-Ilyas

ISLAMABAD: The federal government has appointed Rear Admiral (Retd) Syed Moazzam Ilyas as the Chairman of the Port Qasim Authority (PQA). Ilyas has been appointed on a three-year contract under the MP-1 Scale, adhering to relevant rules and regulations. In other administrative developments, Khurram Agha, Secretary Interior, has been granted a three-month extension as Secretary Narcotics Control Division, effective from September 25. Meanwhile, Jodat Ayaz, a Grade-21 officer of the Pakistan Administrative Service, has been designated as an Officer on Special Duty (OSD), with his two-month leave formally approved. Additionally,…

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China Challenges Pakistan’s Energy Claims: Phasing Out Gas and FO Plants Could Save $3 Billion Annually

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furnace-oil

ISLAMABAD: China has disputed Prime Minister Shehbaz Sharif’s assertion that converting imported coal power plants to local coal could save $1.2 billion annually. Instead, Chinese officials have recommended prioritizing the phasing out of gas and furnace oil (FO) power plants, projecting savings of $3 billion per year. These insights were shared during the 3rd Belt and Road Energy Ministerial Conference held in Qingdao on October 23-24, 2024. Pakistan’s Minister for Power, Sardar Awais Ahmad Khan Leghari, represented the country, attending the opening ceremony, a parallel forum, and four bilateral meetings,…

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Nepra: Consumers Lose Rs 60 Billion Benefit Due to NJHPP Shutdown, Kanupp Debt Re-Profiling

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NEPRA-KE

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) revealed that a projected financial benefit of Rs 60 billion could not be passed on to consumers of Discos and K-Electric (KE) during the first quarter of FY 2024-25. The shortfall stemmed from the closure of the 969 MW Neelum Jhelum Hydropower Project (NJHPP) and debt re-profiling of the Karachi Nuclear Power Plant-2 (Kanupp), both of which hindered the availability of cost-effective electricity. During a public hearing on quarterly tariff adjustment (QTA) for the period, Nepra officials highlighted that the under-recovery of…

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CASA-1000 Power Transmission System: Key Stakeholders Convene in Turkiye

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power-subsidy

ISLAMABAD: The Joint Working Group (JWG) on CASA-1000 is meeting representatives from the World Bank, international financial institutions (IFIs), and donors on November 21-22, 2024, in Istanbul, Turkiye. The discussions aim to address critical issues hindering the completion of the CASA-1000 power transmission system, sources informed Business Recorder. Project OverviewInitiated in 2006 and formalized through agreements in 2008, CASA-1000 facilitates the transportation of surplus electricity from Kyrgyzstan and Tajikistan to Afghanistan and Pakistan during May-September. The system also includes bi-directional capabilities for energy transmission from Pakistan to Central Asian Republics…

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Pakistan Unveils Carbon Market Policy to Boost Green Investment

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Climate-Change

KARACHI: Pakistan has introduced a groundbreaking framework to operationalize carbon markets, emphasizing its commitment to global climate goals and sustainable development. The newly finalized Carbon Market Policy was launched during the high-profile event ‘Launch of Pakistan’s Carbon Market Policy & Panel on Coordinated Access to Net Zero Development Financing Through Paris-Aligned Carbon Markets’ at COP29 in Baku. Cabinet approval is anticipated next month. The policy provides a regulatory framework to attract green investments and accelerate Pakistan’s shift to a low-carbon economy. Coordinator to the Prime Minister on Climate Change, Romina…

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