Category: Shortcode

Power consumers to brace for another surge in bills

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power-subsidy

DISCOs seek to recover staggering Rs81.5b via quarterly adjustments for second quarter FY2023-24 ISLAMABAD: Consumers of electricity in Pakistan are on the verge of another financial shock as Power Distribution Companies (DISCOs) seek approval from the National Electric Power Regulatory Authority (NEPRA) to recover a staggering Rs81.5 billion through quarterly adjustments for the second quarter of the financial year 2023-24 (October to December 2023). The burden primarily stems from capacity charges for power plants that remained idle during this period, and this additional financial strain will be passed on to…

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Pending requests: AGL urges Nepra to issue revised FCC

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Nepra-KE-1

ISLAMABAD: Attock Gen Limited (AGL) has urged National Electric Power Regulatory Authority (NEPRA) to issue revised Fuel Cost Component (FCC) against all its pending requests. In a letter to Chairman NEPRA, the power generation company referred to its pervious correspondence on this matter, through AGL, which emphasized the importance of the statutory obligation of NEPRA imposed by the Legislature under Section 31 (4 of the NEPRA Act 1997, to process the pending fuel cost adjustment decisions for the months of June to December 2023. In accordance with law, and AGLs…

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Petrol price likely to increase from Feb 1

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ISLAMABAD: The interim government may raise the petrol price by Rs 8 to Rs 11 per litre with effect from February 1, 2024, depending on the exchange rate adjustments. The price of high-speed diesel (HSD) is also likely to go up by Rs 2 to Rs 7 per litre again based on exchange rate adjustment for next fortnightly starting from January 1. If the calculation will be based at expected exchange adjustment on Rs 2.75 per litre on petrol and Rs 4.50 per litre on HSD, the price of petrol…

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Third parties on commercial basis: CCI approves 25pc hike in sale price of gas

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Gas-Project

ISLAMABAD: A meeting of the Council of Common Interests (CCI) has approved increase in sale price of natural gas to third parties on commercial basis, ie, from 10 percent to 35 percent as well as necessary amendments to the Petroleum Policy 2012 and draft Tight Gas Exploration and Production Policy 2024. The 51st meeting of the CCI held under the chairmanship of Caretaker Prime Minister Anwaar ul Haq Kakar on Monday was presented for approval amendments in the Petroleum Policy 2012 by the Petroleum Division. The meeting was informed that…

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Resurrecting dead IP gas pipeline project

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Oil-and-Gas

ISLAMABAD: Iranian Foreign Minister Hossein Amir Abdollahian on Monday presented a workable solution with regard to the completion of the Iran-Pakistan gas pipeline project with a proposal that the project can be financed by China and Russia if Islamabad is facing resistance because of the US sanctions on Tehran. The proposal was presented by the visiting Iranian foreign minister during delegation-level talks with caretaker Foreign Minister Jalil Abbas Jilani upon his day-long visit in the wake of the recent tension between the two countries, sources privy to the development told Business…

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