Category: Shortcode

Commercial operation date: Nepra likely to grant Zorlu 4-month extension

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Global-power

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) on Tuesday hinted at granting extension for four months in Commercial Operation Date (COD) to Turkish power firm M/s Zorlu Enerji along with same tariff approved previously as the company has only one issue with CCPA-G, i.e., interpretation of word “degradation”. Asian Development Bank’s Senior Investment Officer, Sheryar Ali Chaudhary said that financing is not easily available for Pakistan right now but the Bank is only considering Zorlu’s loan request because it has given a corporate guarantee. He further stated that if the…

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Anti-electricity theft, recovery drive a flop?

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circular-debt-K-electric-ceo

ISLAMABAD: Pakistan’s power sector circular debt stock crossed Rs 2.6 trillion by October 31, 2023, showing 13 percent or Rs 75.25 billion per month growth in its flow as anti-theft and recovery drive failed to give results as per expectations. According to sources, circular debt stock touched Rs 2.310 trillion at the end of FY 2022-23, with has now reached Rs 2.611 trillion during July-October 2023-24 with a growth of Rs 301 billion against growth of Rs 249 billion in same period of 2022-23. Payables to power producers have reached…

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India to be third-largest economy by 2030: S&P

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expects-India

BENGALURU: India will remain the fastest-growing major economy for at least the next three years, setting it on course to become the world’s third-largest economy by 2030, S&P Global Ratings said in a report. S&P expects India, currently the world’s fifth-largest economy, to grow at 6.4 per cent this fiscal year and estimates growth will pick up to 7pc by FY27. In contrast, it expects China’s growth to slow to 4.6pc by 2026 from an estimated 5.4pc this year. India’s gross domestic product (GDP) grew a bigger-than-expected 7.6pc in the…

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Govt freezes monetised cost of free units of electricity

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power-tariff

ISLAMABAD: The power division has notified a freeze on monetised cost of free electricity units to all the senior employees of power companies and the Water and Po­­w­er Development Authority (Wapda) at the existing level for future. In a notification issued here on Tuesday, the power division said the federal cabinet had approved monetisation of free electricity units admissible to the employees of Wapda, ex-Wapda companies, including distribution companies (Discos), generation companies (Gencos), National Transmission and Dispatch Company (NTDC) and Power Information Technology Company (PITC). It said the cabinet had…

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Capacity chargesstand at massive Rs2.3tr

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Chinese-power

ISLAMABAD: Pakistan’s crippling power sector is faced with persistent difficulties on account of capacity charges of Rs2.3 trillion, increased reliance on foreign-funded and uncompetitive imported fuel, and inflated billings of Rs100 billion from voiceless consumers. “The capacity charges of Rs2.3 trillion, mainly because of the depreciated exchange rate, have become one of the major problems, and the solution lies in increasing the tax-to-GDP ratio from nine to 18 percent to finance the funding of power projects from our resources. The imported coal needs to be replaced with the domestic coal,”…

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