Category: Shortcode

KE expresses its ‘limitation’ towards implementing integration plan

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k-electric

ISLAMABAD: K-Electric has expressed its limitation in implementing the approved integration plan as it is unable to provide feedback on the test-run report. Responding to the test-run report of the CPPA-G, K- Electric has requested separate deliberations with the CPPA-G and on KE integration plan by NEPRA as agreed by CPPA-G. The Cabinet Committee on Energy (CCoE) recently approved the report, which was also ratified by the Cabinet. PM says govt, KE to ensure smooth power supply to Karachi On May 31, 2022, NEPRA’s determination included: (i) grant of MO…

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Petrol, diesel likely to become cheaper by Rs10

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ISLAMABAD: The petrol price is estimated to decline by about Rs9-10 per litre on Jan 15 for the next fortnight due to a combination of lower international prices, exchange rate gains and a decline in premium. High-speed diesel (HSD) is also expected to be cheaper by around Rs2 per litre. Informed sources said the prices of all petroleum products had declined in the international market over the past fortnight and the rupee had also gained against the US dollar while the premium on procurement of petrol had also come down.…

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Economy stable, but challenges persist: IMF

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IMF-demand

WASHINGTON: The IMF Executive Board’s decision to disburse around $700 million to Pakistan reflects a positive review of the country’s economic reform programme. While economic activity has stabilised, challenges persist, contingent on the effective implementation of sound policies. Macroeconomic conditions have shown improvement, with a projected two per cent growth in FY24. The fiscal position strengthened in 1QFY24, achieving a primary surplus of 0.4pc of GDP, driven by strong revenues. Inflation, although elevated, is expected to decline with appropriately tight monetary policy to 18.5pc by end-June 2024. Gross reserves of…

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Pak-China EV organized training session for sustainable energy practices

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A joint venture company Pak China Huazi Green Energy (Private), organized an Electric Vehicle (EV) training session here with the cooperation of National Skills University (NSU). Talking to media, Khalid Mahmood, CEO of Huazi Green Energy said the two-day EV Repair and Maintenance Introductory Course this week, showcased the collaborative efforts between NSU and Pak-China Huazi Green Energy Pvt Ltd. The course, led by esteemed Chinese technologists, marked a significant stride towards fostering sustainable energy practices and knowledge exchange in electric vehicles. The event, witnessed a convergence of industry experts,…

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OGDCL, PPL, POL win four exploration blocks

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OGDCL-1

KARACHI: The ministry of Energy has provisionally awarded four new oil and gas exploration blocks to three local companies, according to a stock exchange filing by one of the winners on Thursday. Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Pakistan Oilfields Limited (POL) won the blocks in a competitive bidding round held by the government in November 2023, the filing by OGDCL said. The blocks are located in Balochistan and Sindh, and cover a total area of about 4,000 square kilometers, the filing added. “OGDCL…

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