Category: Shortcode

Plan prepared for cut in circular debt

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circular-debt

Ministry proposes debt reduction via subsidies, revision of policies and deals ISLAMABAD: The Ministry of Energy has proposed to the Special Investment Facilitation Council (SIFC) a plan for reduction in power-sector circular debt of Rs2.3 trillion through a combination of budget subsidies, revision of policies and agreements. The draft plan has been shared with a committee of the civil-military forum, which will be further fine-tuned in consultation with the Ministry of Finance, according to government sources. A follow-up meeting has also been held recently between the finance and energy ministries.…

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BRI drives Pakistan’s green transformation

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solar-panel

Solar energy market expected to grow from 1.3GW in 2023 to 9.77GW by 2028 BEIJING: “The Green Silk Road is an important tool that can help us all pull out of the dead ends of the past and set us on a new pathway that benefits people and planet alike,” United Nations Secretary-General Antonio Guterres emphasised in his speech at the high-level forum on green development of the third Belt and Road Forum for International Cooperation held on October 18. With the theme of Green Silk Road for Harmony with…

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K-Electric inks deal to double national grid supply

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power-tariff

ISLAMABAD: K-Electric (KE) has reached an agreement with the federal government for an almost 100 per cent boost in supply from the national grid, the power utility said on Thursday. The announcement comes amid stiff opposition from Karachi-based business leaders who have objected to KE’s push for a higher quarterly tariff. They have also raised concerns over KE’s six-year power acquisition plan, which forecasts an addition of 2,050 megawatts, predominantly from local coal and renewable sources. The National Electric Power Regulatory Authority (Nepra) conducted two public hearings on Thursday and…

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Markets fall again and oil rises on Middle East, Fed fears

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Oil price

Asian markets fell and oil prices extended gains Friday on worries that an expected ground invasion of Gaza by Israel will spark a wider conflict in the Middle East. Risk aversion was compounded by Federal Reserve boss Jerome Powell, who indicated a pause in interest rates at the bank’s next meeting but left open the prospect of another hike later. Traders are keeping a fearful eye on developments in the Middle East as Israel presses on with its bombing of Gaza after Hamas militants killed at least 1,400 people in Israel on October…

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Central Power Purchasing Agency seeks 55-paisa FCA for Discos

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power-subsidy

ISLAMABAD: The Central Power Purchasing Agency (CPPA) on Thursday sought about 55 paise per unit additional fuel cost adjustment (FCA) for ex-Wapda distribution companies (Discos) to mop up another Rs7bn from consumers next month, despite a record 77pc electricity generation from cheaper domestic fuels, on top of a 26pc increase in the annual base tariff and an 18pc hike under the currently in-place quarterly tariff adjustment (QTA). In a petition filed before the National Electric Power Regulatory Authority (Nepra), the CPPA acting as commercial agent of the Discos, demanded an…

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