Category: Shortcode

Lenders seek transparency as Pakistan pitches for environment funding

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SIFC-sparks

ISLAMABAD: Amid struggling project implementation and calls for more transparency by multilateral and bilateral lenders, the caretaker government on Tuesday made a pitch for additional international financial support, particularly those relating to ‘debt for nature and debt for social development swaps’ to help Pakistan meet climate finance targets. The appeal for additional financial support was made by Caretaker Finance Minister Dr Shamshad Akhtar at back-to-back engagements with lenders and development partners ahead of upcoming UN Climate Change Conference (COP-28) convened by UN Framework Convention on Climate Change (UNFCCC) from Nov…

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FCA for Oct 2023: Discos seek Nepra nod for Rs3.5/unit additional charges in December bills

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KE’S- 7-YEAR- INVESTMENT-ROADMAP

ISLAMABAD: The ex-Wapda distribution companies (XWDiscos) have formally sought an approval from the National Electric Power Regulatory Authority (Nepra) to impose additional charges of Rs3.5339 per unit on consumers in December. The petition, related to the monthly fuel charges adjustment (FCA) for October 2023, raises eyebrows as approximately 84 percent of the claims pertain to the recovery of previous adjustments totaling a substantial Rs28.325 billion (or Rs2.9592/unit). A parallel concern arises as the Central Power Purchasing Agency (CPPA), representing Discos, discloses nearly identical per unit costs for local and imported…

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Unilever CEO inspires SSGC

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SSGC

KARACHI: Amir Paracha, chairman and CEO of Unilever Pakistan Limited, spoke about his professional journey and the challenges he faced as one of the youngest CEOs in the country at a speakers’ session organised by Sui Southern Gas Company (SSGC), a statement said on Monday. The session, titled “Hitting the Bulls’ Eye”, was part of SSGC’s Synergy-Talks series, aimed at providing a platform for learning and inspiration for its employees and executives. The event was held at SSGC’s head office auditorium and was attended by a large number of SSGC’s…

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Govt to address refineries’ concerns over upgradation agreements

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oil-gas.

KARACHI: The government is finalising a proposal to address the concerns of four oil refineries that have not signed upgradation agreements with the energy regulator, sources told The News on Monday. The refineries have raised issues over taxation, arbitration, force majeure and import incentives, which they say are not in line with the Brownfield Refinery Policy announced in August, the sources said. “A summary is being finalised for the consideration of the Cabinet Committee on Energy (CCoE) to address the concerns of the refineries,” a source said. Only one refinery,…

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Fuel cost adjustment of Rs3.5 more per unit to further inflate bills

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ISLAMABAD: The Cen­tral Power Purchasing Agency (CPPA) on Mon­day sought a massive Rs3.55 per unit as fuel cost adjustment (FCA) for ex-Wapda distribution comp­anies (Discos) to raise another Rs33bn from consumers in Dece­mber, des­pite a healthy 76 per cent ele­ctricity generation from cheaper domestic fuels. This comes on top of about 26pc increase in the annual base tariff and around 18pc hike under the currently implemented quarterly tariff adjustment (QTA). This means that consumers would benefit little from low consumption in December, as they would be charged such a big…

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