Category: Shortcode

KP Awaits Rs38.9 Billion Net Hydel Profit Payment, Minister Confirms

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Khyber-Pakhtunkhwa

ISLAMABAD: Minister for Water Resources Musadik Masood Malik informed the National Assembly that Rs38.925 billion remains outstanding as the Net Hydel Profit (NHP) share owed to the Khyber-Pakhtunkhwa (KP) government as of October 3, 2024. Responding to a question from Sahibzada Sibghatullah, Malik said the Central Power Purchasing Agency (CPPA-G) has raised its payments to WAPDA, enabling monthly disbursements of Rs3 billion to KP following a Finance Division meeting on July 2, 2024. In this fiscal year, WAPDA has so far released Rs9 billion to the KP government. Separately, Minister…

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Pakistan’s Solar Boom: $2.1 Billion in Solar Panels Imported Amid 155% Power Tariff Hike

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Solar-Panels

ISLAMABAD: Pakistan imported approximately 15 GW of solar panels worth $2.1 billion from China last fiscal year, driven by surging electricity costs—up 155% in three years—according to a recent study, The Great Solar Rush in Pakistan. This shift has led to a 10.4% decrease in grid electricity demand, with further reductions projected, underscoring the need for grid modernization and revised demand forecasts. Launched by Renewables First, the study highlights how high consumption households and industries are adopting solar solutions amid rising power tariffs and decreasing battery costs. Analysts at the…

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Weak Oversight in Oil and Gas Sector Sparks Concerns Over CSR Fund Misuse

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CSR-Funds

ISLAMABAD: The Standing Committee on Energy (Petroleum Division) has raised concerns over inadequate regulatory oversight, leading to the misuse of Corporate Social Responsibility (CSR) funds and uncollected Production Bonus and Training Funds intended for capacity-building by exploration and production (E&P) companies. Chaired by Syed Mustafa Mehmood, the committee convened to examine the allocation, utilization, and transparency of CSR funds within the oil and gas sector. During the briefing, the Secretary of the Ministry of Energy (Petroleum Division) explained that various Petroleum Policies from 1994 to 2012 require E&P companies to…

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ADB Warns Climate Change Could Slash Pakistan’s GDP by 21.1% by 2070

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Climate-Change

ISLAMABAD: Pakistan’s gross domestic product (GDP) could shrink by 21.1% by 2070 under a high-emission climate scenario, according to the Asian Development Bank’s (ADB) latest “Asia-Pacific Climate Report 2024: Catalyzing Finance and Policy Solutions.” The report highlights that climate change impacts could lead to a 17% GDP loss across Asia and the Pacific by 2070, with the region’s GDP losses potentially reaching 41% by the end of the century. Pakistan, along with countries like Bangladesh, India, and Indonesia, is expected to experience the most severe economic impacts, driven by sea…

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NEPRA Raises Concerns Over IPP Contract Policies During K-Electric FCA Hearing

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Nepra-Act

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) voiced serious concerns on Thursday regarding factors in ongoing negotiations with Independent Power Producers (IPPs) that could deter investment in Pakistan’s power sector. These issues surfaced during a public hearing on K-Electric’s provisional Fuel Charges Adjustment (FCA) for September 2024, where K-Electric proposed a 16 paisa per unit reduction, aiming to return Rs 247 million to consumers along with General Sales Tax. During the hearing, NEPRA Member (Tariff and Finance) Mathar Niaz Rana received commendation for his dissenting note on K-Electric’s generation…

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