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“IMF Directive: Gas Tariff for Captive Power Plants to Align with RLNG Prices from July 1”

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New-RLNG

Under directives from the International Monetary Fund (IMF), the government is preparing to equalize the gas tariff for captive power plants (CPPs) with Re-gasified Liquefied Natural Gas (RLNG) prices starting July 1, 2024. This move follows discussions with senior officials from the Energy Ministry, who highlighted the necessity of this adjustment in response to IMF requirements. Currently, the gas tariff…

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Committee Formed to Review Climate Change Governance and Access to Climate Funds”

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climate-change

The Prime Minister has established a high-level committee to assess Climate Change Governance and the mechanisms for accessing Climate Funds. This committee includes Climate Change Minister Romina Khursheed Alam, SDPI Executive Director Dr Abid Suleri, and other senior members from various sectors. Chaired by the Deputy Chairman of the Planning Commission, Mohammad Jehanzeb Khan, the committee comprises government officials, parliamentarians,…

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“Work Commences on IP Gas Pipeline Project Ahead of Iranian President’s Visit to Pakistan”

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gas-pipeline

As Iranian President Ebrahim Raisi prepares for his visit to Pakistan on April 22, the Ministry of Energy has initiated work on the Pakistan-Iran Gas Pipeline Project. The project aims to materialize an 80-kilometer pipeline from Gwadar to connect with the Iranian pipeline, with an estimated completion time of 24 months and a budget allocation of Rs44 billion from the…

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CM Sindh Leads Critical Review of Sindh Solar Energy Project

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Solar-Energy

Karachi: A comprehensive progress review meeting of the Sindh Solar Energy Project (SSEP) was held under the leadership of Chief Minister Syed Murad Ali Shah. The meeting was attended by key officials including Energy Minister Nasir Shah, Mayor Karachi Murtaza Wahab, Principal Secretary to CM Sindh Agha Waqar, Chairperson of P&D Najm Shah, Energy Secretary Kazim Jatoi, and Treasury Secretary…

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Tax-to-GDP Ratio Should Be Increased Through Broadening of Tax Base Atif Ikram Sheikh

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Atif-Ikram

Karachi: Atif Ikram Sheikh, President FPCCI, has emphasized that, while FPCCI supports the efforts to increase tax-to-GDP ratio, it has to be achieved through broadening of tax base and simplification of the taxation system – rather than further squeezing the already taxed. The only pragmatic approach to achieve tax-to-GDP ratio of 15 percent in the next 5 years is to…

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Govt to reconsider privatisation of LNG plants

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LNG-chain

Ministerial group cites challenges, risks in circular debt-plagued power sect ISLAMABAD: The Ministerial Group has cautioned against the privatisation of two LNG power plants, citing concerns about the current investment climate. The government’s intention to privatise these plants, established during the Pakistan Muslim League-Nawaz’s tenure with an LNG contract signed with the government of Qatar, is under scrutiny. Sources reveal…

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Ministry of Foreign Affairs Urges Progress on IP Gas Pipeline Project

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gas-pipeline

The Ministry of Foreign Affairs (MoFA) has advised the Petroleum Division to expedite the Iran-Pakistan (IP) gas pipeline project without delay, citing its significance as a crucial energy initiative, according to informed sources reported by Business Recorder. MoFA’s recommendation predates recent comments by US Assistant Secretary of State for South and Central Asia Donald Lu opposing the IP project. During…

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OMCs Increase HOBC Price by Rs10/Litre from April 1, 2024

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petrol-price

Oil Marketing Companies (OMCs) have announced a Rs10 per litre hike in the price of Hi-Octane Blending Component (HOBC) effective from April 1, 2024. Despite this increase, the Petroleum Levy (PL) on HOBC remains at Rs50 per litre, maintaining a lower levy compared to low-grade motor gasoline, which incurs a PL of Rs60 per litre. The international price of petrol…

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KE to Integrate 640MW Clean Energy in 2 Years

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K-Electric

K-Electric (KE) has unveiled plans to incorporate 640 megawatts of renewable electricity into its grid over the next two years through solar and wind energy initiatives. This move, expected to attract investments of more than $400 million from 12 international firms based in Europe, China, and the Middle East, is poised to significantly reduce production costs, according to KE’s Chief…

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NPGCL inks $200m FDI MoU with Chinese firm NGLE

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Power-generation

ISLAMABAD: In a significant stride towards sustainable energy production, Northern Power Generation Company Limited (NPGCL) GENCO-III, Muzaffargarh, in collaboration with Ningbo Green Light Energy (NGLE) (Private) Limited, China, has formalised a memorandum of understanding (MoU) worth $200 million in foreign direct investment (FDI). Facilitated by the Special Investment Facilitation Council (SIFC), this MoU aims to convert an existing thermal power…

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