Category: Shortcode

Govt to Reevaluate Net Metering Policy After Strong Backlash

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solar-electricity

ISLAMABAD: In response to widespread criticism, the government has decided to expand consultations on the Solar Net Metering Regulations approved by the Economic Coordination Committee (ECC) and re-submit recommendations to the federal cabinet after incorporating feedback from all stakeholders. The decision was made during a *federal cabinet meeting on Wednesday, following intense backlash over the government’s March 13 move to reduce the net metering buyback rate by two-thirds to *Rs10 per unit and eliminate net billing. The changes, aimed at curbing solar net metering growth amid rising grid electricity costs,…

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Huawei and AE Power Forge Partnership to Introduce LUNA2000-107kwh/167kwh/215kwh Commercial Battery Energy Storage System in Pakistan

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New-HUAWEI

Lahore, Pakistan – March 24, 2025 – In a landmark move towards advancing sustainable energy solutions in Pakistan, Huawei and AE Power have officially entered into a strategic partnership to bring the LUNA2000- 107kwh/167kwh/215kwh Commercial Battery Energy Storage System (BESS) to the local market. The agreement was formalized at a signing ceremony attended by Mr. Rana Abbas, CEO of AE Power, and Mr. Kevin Technical Sales Director Huawei.​The LUNA2000- is Huawei’s latest innovation in energy storage, designed to provide efficient, reliable, and scalable energy solutions for commercial applications. This cutting-edge…

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First-Ever EU-Pakistan Business Forum Set for May 14 in Islamabad

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First-Ever

ISLAMABAD: The European Union (EU) delegation to Pakistan has announced the inaugural High-Level EU-Pakistan Business Forum, scheduled for May 14-15, 2025, in Islamabad. This milestone event, jointly supported by the EU, its Member States, and the Government of Pakistan, aims to foster business partnerships, unlock new opportunities, and strengthen economic ties between the two regions. Prime Minister Shehbaz Sharif will officially inaugurate the forum, which will feature business-to-business (B2B) and business-to-government (B2G) meetings, interactive discussions, exhibitions, and the launch of the EU-Pakistan Business Network, connecting over 300 European companies operating…

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Govt Moves Forward with Discos Privatization, FAs Outline Key Reforms

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Power-sector

ISLAMABAD: Financial Advisors (FAs) have briefed the Power Division and Privatization Commission on private sector participation in three power Distribution Companies (Discos), highlighting necessary regulatory and financial reforms, sources told Business Recorder. The government aims to privatize Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO). The discussions focused on regulatory changes, balance sheet restructuring, and preparatory steps required before privatization. A consortium led by Alvarez & Marsal Middle East Limited is working on cleaning up Discos’ balance sheets, which currently reflect over…

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Govt Inaugurates First 120KW EV Charging Station in Islamabad, Slashes Charging Rates

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Electric-Vehicle

ISLAMABAD: Energy Minister Awais Leghari on Tuesday inaugurated Pakistan’s first 120KW fast-charging station for electric vehicles (EVs), developed by GoGreen Avenue, marking a significant step towards sustainable transportation. Speaking at the inauguration ceremony, Leghari emphasized the government’s commitment to clean energy and carbon reduction, stating that such initiatives are crucial for transforming the country’s energy and transportation landscape. As part of the drive to promote EV adoption, the minister announced a substantial reduction in electric charging rates, lowering the price per unit from Rs71 to Rs39. The move aims to…

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