Category: Shortcode

At the rate of Rs3.53/unit for Oct 2023: Nepra agrees to allow Discos to recover Rs32.7bn additional amount

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Nepra-KE-1

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday agreed in principle, to allow Discos to recover additional amount of Rs 32.7 billion at the rate of Rs 3.53 per unit from their consumers for October 2023 under the garb of previous adjustments. During the public hearing a representative of CPPA-G, Naveed Qaisar stated that positive impact of FCA in October 2023 was Rs 7.45 per unit against Rs 7.65 per unit of reference FCA, which implies that FCA’s impact was negative paisa 20 per unit. However, with addition…

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SBP grilled over money laundered via solar panels

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solar-panel

ISLAMABAD: The Senate Standing Committee on Finance on Wednesday regretted that the State Bank of Pakistan (SBP) had shared insufficient information on over Rs70bn established trade-based money laundering through the import of solar panels and ordered immediate payment to teachers their salaries pending since the start of the current fiscal year. Senator Saleem Mandviwalla, who presided over the meeting, lamented that it was the third meeting of the panel on the subject but the latest report on money laundering through solar panel imports did not offer anything new or progress.…

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‘Tax the bad’ to boost climate finance, COP28 panel advises

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climate-change

Increasing taxes on polluting activities and cutting fossil fuel subsidies could generate trillions of dollars to tackle climate change, an advisory panel to the COP28 talks in Dubai said. Summit host the United Arab Emirates, a major oil producer, has said the two-week meeting starting on Thursday must deliver “tangible action” on climate funding, which has been squeezed by rising debt burdens, faltering political will and patchy efforts by private finance. Higher carbon taxes – including levies on emissions from the maritime and aviation sectors – should be among options…

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GCIL to set up coal power plant

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thar-coal-power

KARACHI: Ghani Chemical Industries Limited (GCIL), a manufacturer of medical and industrial gases and chemicals, said on Monday it will set up a $5-5.5 million coal power plant to reduce its electricity costs and gain a competitive edge. The company in a filing to the Pakistan Stock Exchange (PSX) said that it has decided to set up a 7 megawatt (MW) coal power plant based on a mix of local and imported coal at Port Qasim or any other nearby suitable location. The plant is expected to save 45 percent…

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KE licence hearing today

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k-electric

NEPRA frames questions based on comments from industrialists, other stakeholders ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is set to conduct a public hearing on Tuesday to consider a request for the renewal of K-Electric’s (KE) electricity distribution and supplier licence. Nepra has framed 17 questions in response to comments from various stakeholders while KE will present its arguments. KE, a private power utility, has filed for the renewal of its licence on a non-exclusive basis. Ex-Wapda distribution companies (DISCOs) have already been awarded non-exclusive licences for a period…

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