Category: Shortcode

CPPA-G Seeks Settlement of Rs151bn ‘Irregular’ Payment to KAPCO Audit Para Dispute Arises Over Extended Power Purchase Agreement

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KAPCO-Audit

ISLAMABAD: The Central Power Purchasing Agency–Guaranteed (CPPA-G) has requested the Auditor General to settle an audit para concerning an “irregular payment” of Rs151 billion made to Kot Addu Power Company (KAPCO) due to an unauthorized extension of its Power Purchase Agreement (PPA) without approval from the National Electric Power Regulatory Authority (NEPRA). KAPCO, privatized in 1996, had its original PPA signed on June 27 of the same year, with a 25-year term. However, disputes over liquidated damages (LDs) and delayed payments led to a complex situation, ultimately resolved through negotiations…

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Gas Tariff Hike Spares 66% of Consumers, Says Petroleum Minister Musadik Malik Defends Tiered Pricing System to Manage Circular Debt

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Musadik-Malik

ISLAMABAD: Petroleum Minister Musadik Malik assured that 66 percent of gas consumers remain unaffected by recent tariff hikes, thanks to the tiered pricing system. Addressing a parliamentary committee chaired by Syed Mustafa Mehmood, Malik explained that indiscriminate reductions in gas prices would only worsen the country’s circular debt. He emphasized the importance of maintaining balanced tariffs, noting that targeted subsidies are crucial for managing financial losses while protecting low-income households. During the discussion, Malik also addressed concerns about the management of state-owned petroleum companies, clarifying that three firms have been…

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Gas Tariff to Remain Unchanged for Three Months: Musadik Malik

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musadik-malik

ISLAMABAD: Minister for Petroleum Musadik Malik announced on Tuesday that the current gas tariff will stay unchanged for the next three months, covering the crucial winter period. Speaking at a press conference, the minister emphasized that this decision is part of the government’s strategy to ease the financial burden on citizens, assuring that no tariff hikes are planned. He added that any future relief measures would be implemented in collaboration with all provincial governments. Malik also highlighted the Punjab government’s recent relief of Rs14 per unit for electricity consumers using…

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Punjab Raises Concerns Over Proposed LPG Policy Incentives

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lpg

ISLAMABAD: The Punjab government has expressed reservations about the proposed incentives in Pakistan’s LPG Policy 2024, citing potential impacts on its share of federal tax revenues. Sources revealed that Punjab has requested a detailed report from the federal government on the financial implications of the proposed tax incentives within the new LPG policy. The Shehbaz Sharif-led administration has revived efforts to implement the policy, which had previously stalled during the caretaker government’s tenure. The Energy Department of Punjab has specifically sought clarity on how the fiscal measures and concessions outlined…

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SkyElectric Set to Enter Japanese Solar Market

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solar-energy

ISLAMABAD: SkyElectric, a local firm, has successfully completed the initial phase of the Japan Electrical Safety and Environment Technology Laboratories (JET) testing programme, positioning itself as the first Pakistani company ready to enter the Japanese solar market. Co-founder and CEO Amin Sukhera hailed the accomplishment as a significant testament to SkyElectric’s technical excellence and dedication to meeting global standards. “The completion of the first phase of JET is a monumental achievement, which underscores the quality and reliability of our products,” Sukhera stated.

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