Category: Shortcode

Government Considers Lowering Tariffs for Solar Net Metering

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IMF-board

In response to concerns over excessive fuel cost adjustments burdening consumers, the government hinted at plans to reduce the net metering tariff for rooftop solar power units. This initiative, discussed during a meeting of the Senate Standing Committee on Power, follows previous unsuccessful attempts over a year ago to implement similar measures. During the session chaired by Senator Azam Nazeer Tarar, Power Secretary Asad Rehman Gilani acknowledged recent fuel cost adjustments as unfair to consumers. He attributed the higher costs to increased insurance and tanker charges due to Middle East…

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Electricity Bills Set to Soar as Record Fuel Costs Trigger Unprecedented Surge

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free-power

In a severe blow to already struggling electricity consumers, the Central Power Purchasing Agency (CPPA) is pushing for a staggering increase of Rs7.13 per unit in fuel charges for the upcoming bills. This move, aimed at generating an additional Rs57 billion for power distribution companies (Discos), marks the highest-ever increase in fuel cost adjustment (FCA) in history, raising concerns about the forecasting capabilities of the power sector bureaucracy. The proposed increase in FCA, which is nearly 96% higher than the pre-fixed fuel cost, comes amidst a backdrop of already heightened…

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FPCCI urges Sindh Police for decisive action against land mafia for growth of businesses, industries

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New-fpcci

The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has urged the police to take decisive action against land mafias in Sindh for the growth of industries, and businesses and to attract new investment to the province.Riffat Mukhtar Raja, Inspector General of Sindh Police, visited the FPCCI Head Office in Karachi and met the top leadership of business and industrial fraternities.The IG was accompanied by top officers of Sindh Police including, Khadim Hussain Rind, Additional IG Karachi; Syed Pir Muhammad Shah, DIG Establishment; Iqbal Dara, DIG Traffic and Syed…

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Competition Commission of Pakistan Approves Merger of Korean Firm with Mira Power Limited

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Mira-Power

The Competition Commission of Pakistan (CCP) has granted approval for the merger of a Korean firm with Mira Power Limited (MPL), as reported by Business Recorder on Monday. The merger involves Korea-based DL E&C Co. Ltd acquiring shares in MPL, the operator of the 102 MW Gulpur hydropower plant, from DL Holdings Co. Ltd. CCP conducted a competition assessment and determined that MPL’s market share is less than 1%, and the change in ownership will not significantly alter MPL’s position in the market. A spokesperson for CCP stated, “The proposed…

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Pakistan Accelerates IP Pipeline Project to Avoid $18 Billion Penalty Despite US Sanctions

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gas-pipeline

Islamabad: Pakistan has committed to completing the first phase of the Iran-Pakistan (IP) gas pipeline project within its territory to avoid a potential $18 billion penalty, despite facing sanctions from the United States. Iran has granted an extension of 180 days until September 2024 to complete the project, aiming to prevent litigation in international courts and maintain diplomatic relations. To satisfy Iran, Pakistan has decided to proceed with the construction of the IP gas pipeline within its borders, despite the challenges posed by US sanctions. The Petroleum division is seeking…

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