Category: Shortcode

GOVERNMENT URGED TO LET INDUSTRY BUY POWER FROM GENERATOR

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Chinese-power

KARACHI: The country’s leading industrial chambers and associations have called for the urgent implementation of the Competitive Trading Bilateral Contract Market (CTBCM) regime, which would enable bulk power consumers to purchase electricity directly from generators, bypassing the government. The demand arose during a conference jointly organised on Tuesday by Renewables First and Pakistan Environment Trust, two prominent voices in Pakistan’s energy and environment sectors. The conference featured discussions from prominent chambers and associations, including Zubair Motiwala, CEO of the Trade Development Authority of Pakistan; Tanveer Ahmed Barry, vice president of…

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Islamabad Weighs LNG Pipeline Deal with Moscow Amid Sanctions Concerns

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lng-usa

ISLAMABAD: Pakistan is exploring options to finalize a multi-billion-dollar liquefied natural gas (LNG) pipeline deal with Russia, aiming to meet its urgent energy needs. This deal, however, hinges on Pakistan finding a way to avoid US sanctions. In a significant meeting at the recent SCO summit, Russian President Vladimir Putin proposed to Prime Minister Shehbaz Sharif the construction of an LNG pipeline running from Russia through Iran to Pakistan, and potentially extending to India. Minister for Petroleum Musadik Malik has been tasked with conducting a feasibility study, factoring in the…

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KATI Demands Electricity Rate Cut to 9 Cents per kWh

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Power genration

KARACHI: Johar Qandhari, President of the Korangi Association of Trade and Industry (KATI), has raised concerns over the recent hikes in electricity and gas charges, emphasizing that these increases have made it financially untenable for industries to sustain production and business activities. Qandhari urged the government to reduce electricity rates to 9 cents per kilowatt-hour and to lower interest rates to 12 percent. He argued that these measures would spur economic growth, enhance exports, attract investment, and generate employment opportunities. He also called on the government to procure power from…

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FESCO Strives to Offset High Electricity Costs with Improved Services and Reliability

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power-gride

FAISALABAD: Faisalabad Electric Supply Company (FESCO) is making concerted efforts to mitigate the impact of high electricity costs on consumers by providing top-notch services, minimizing line losses, and ensuring an uninterrupted power supply, according to Engineer Muhammad Aamir, CEO of FESCO. Addressing the industrialists and business community at the Faisalabad Chamber of Commerce and Industry (FCCI), Aamir emphasized FESCO’s commitment to efficient electricity distribution and accurate billing. He assured that best practices are being employed to eliminate over-billing, and meter readers are required to record actual readings. Aamir highlighted the…

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Energy Sector and SOEs Undergo Reforms, Finance Minister Meets S&P Global Delegation

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power-subsidy

ISLAMABAD: Minister for Finance and Revenue Muhammad Aurangzeb on Wednesday highlighted significant reforms in Pakistan’s energy sector and state-owned enterprises (SOEs), including ongoing privatization efforts of state companies. During a meeting with a delegation from Standard & Poor’s (S&P) Global Ratings at the Finance Division, Aurangzeb emphasized the confidence multilateral institutions have shown through financing various projects in Pakistan. The S&P delegation was led by Directors of Sovereign and International Public Finance Ratings, Yee Farn Phua and Andrew David Wood. Aurangzeb provided an update on Pakistan’s current economic situation, noting…

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