Category: Shortcode

Power Consumers to Face 14% Markup on Installment Payments

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Nepra-Price

ISLAMABAD: Consumers grappling with the highest-ever electricity tariffs and seeking installment plans for their hefty bills due to financial hardships are now required to pay a 14% markup on delayed payments. Additionally, they will be disqualified from availing subsequent part-payment facilities for a year. This comes on top of a 10% late payment surcharge (LPS) for bills not paid within the prescribed deadline. The National Electric Power Regulatory Authority (Nepra) has implemented these changes through an amendment to the Consumer Service Manual (CSM) following requests from the Power Division and…

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PM Shehbaz Pledges Full Support and Security for Chinese Investors During China Visit

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Shehbaz-Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif has assured Chinese investors of comprehensive facilitation and stringent security measures for their projects in Pakistan. Addressing the Pakistan-China Business Forum in Shenzhen, PM Shehbaz emphasized the immense potential for bilateral trade and investment, particularly in sectors such as IT, agriculture, mining, steel, textiles, and renewable energy. Highlighting the successful Chinese model of economic transformation, the Prime Minister expressed his commitment to replicating this model in Pakistan. “I will go back to Pakistan with this resolve. Come what may, we will follow this model of…

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AGP Office Distances Itself from Strategy on SHPL Award

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New-AGP

AGP Office Declines Involvement in Strategy for SHPL Award, Leaves Decision to CPPA-G and Power Division ISLAMABAD: The Office of the Attorney General for Pakistan (AGP) has distanced itself from the strategy to handle the award of millions of dollars in favor of Star Hydro Power Limited (SHPL). This strategy was suggested by the foreign counsel engaged by the Central Power Purchase Agency (CPPA-G) and the Power Division, according to sources. In a correspondence dated June 3, 2024, the AGP Office concurred with the strategy proposed by CPPA’s foreign counsel,…

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PPIB Urges SBP to Release $758 Million for IPP Payments

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CPEC-likely

ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has called on the State Bank of Pakistan (SBP) to allocate $758 million for foreign payments of power projects, many of which are under the China-Pakistan Economic Corridor (CPEC) framework. Managing Director of PPIB, Shah Jahan Mirza, in a letter to SBP Governor Jameel Ahmed, highlighted concerns from Independent Power Producers (IPPs) about delays in obtaining SBP’s approval for converting PKR to USD to meet their financial obligations. These obligations include payments to project lenders, coal suppliers, operation and maintenance (O&M) contractors,…

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Leading the Way in Renewable Energy: Mondelez Pakistan 2.2 MW Partnership with Shams Power

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Mondelez-Pakistan

Karachi, 4th June 2024 – Mondelez Pakistan has partnered with Shams Power to solarize its confectionary and powdered beverages plants and to take the installed capacity to around 2.2 MW of Solar on both sites. This initiative aims to enhance sustainability and reduce carbon emissions. Shams Power will install the equipment, manage the operation and maintenance of the solar systems throughout the agreement, and transfer the equipment to Mondelez Pakistan upon the term’s completion. This project is expected to contribute approximately 3.3 million units of clean energy annually to Mondelez’s…

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