Category: Shortcode

Nepra approves 2pc transmission losses for STDC

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Nepra-KE-1

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved 2.0 percent transmission line losses to Sindh Transmission and Despatch Company (STDC) from its Commercial Operation Date (COD), i.e, January 18, 2018 after Sindh government made hue and cry over the delay in the decision. The NEPRA awarded the Transmission License to STDC on December 17, 2015 under Section 19 of the NEPRA Act, 1997 to establish its 132 KV double circuit having length of 96.5 KM Transmission Line comprising Aluminum Conductor Steel Reinforced (ACSR) Rail conductor to evacuate electric…

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Industrial sector: Nine cent energy tariff approved: minister

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power-gride

CAIRO (Egypt): The Apex Committee of the Special Investment Facilitation Council (SIFC) has approved an energy tariff of nine cents for the industrial sector against the current rate of 14 cents and the matter will be taken in the next Cabinet meeting. This was stated by caretaker Federal Minister for Commerce and Industry Dr Gohar Ejaz while talking to Business Recorder on the sidelines of the 4th Pakistan Africa Trade Development Conference and Single Country Exhibition in Cairo. Replying to a question, the minister said the matter would also be…

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Govt fails to woo a single investor for solar project

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solar-panel

ISLAMABAD: In a major setback, no bid was received for setting up a 600-megawatt solar power project at Muzaffargarh despite multiple revisions in incentives and extensions in deadlines given by the Private Power & Infrastructure Board (PPIB) — a one-window power sector entity of the federal government. This was the first pilot project for the acquisition of renewable energy through international competitive bidding (ICB) in line with the projections under the long-term Indicative Generation Capacity Expansion Plan (IGCEP). Multiple rounds of bidding were held and revisions in incentives were made…

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IMF board nod allows disbursement of $700m

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IMF-board

WASHINGTON: In a significant development, the Executive Board of the International Monetary Fund (IMF) announced on Thursday that it had successfully concluded the first review of Pakistan’s economic reform programme, backed by the Stand-By Arrangement (SBA), paving the way for an immediate disbursement of SDR 528 million, equivalent to approximately $700m. This latest disbursement brings the cumulative total under the arrangement to an impressive SDR 1.422 billion, roughly $1.9bn. The financial support provided by the IMF underscores the global confidence in Pakistan’s commitment to implementing essential economic reforms. The successful review signifies…

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EU Ambassador Dr Riina KionkaVisits FPCCIGSP+ Status Enabled 108% Export Growth in a Decade

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President-FPCCI

Karachi Atif Ikram Sheikh, President FPCCI, has stressed that the 27-country economic alliance of European Union – with a cumulative GDP of almost $20 trillion – can help Pakistan steer out of the chronically dilapidated state of the economy of Pakistan; and, enhancing our exports to the EU nations should be the cornerstone of broader economic relations. Pakistan has achieved an encouraging 108 percent growth in exports to EU over a period of 10 years; however, in order to retain our GSP Plus status, we must not be complacent and…

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