Category: Shortcode

Agreements with IPPs the reason behind power crisis: Shaikhani

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power-subsidy

HYDERABAD: President of Hyderabad Chamber of Small Traders & Small Industry Muhammad Farooq Shaikhani has said that the main reason for the electricity crisis in Pakistan is the contracts made with Independent Power Producers (IPPs) along with electricity stealing and the consequences are always borne by the traders and the people in the form of non-availability of electricity and expensive electricity. He said that according to the statistics of Wikipedia, Pakistan’s electricity generation capacity as of June 30, 2022 is 43,775 MW, which includes 26,683 MW thermal, 10,635 MW hydro,…

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BMP assails Nepra for another power rate hike

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power-sector

LAHORE: The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) has assailed the NEPRA to approve another electricity rate hike of up to Rs3.5 per unit under quarterly adjustments, leading to an additional burden of Rs136 billion on power consumers, as energy affordability for industry is critical to boost economic growth in the country. FPCCI former president and Businessmen Panel (BMP) Chairman Mian Anjum Nisar, calling for charting out a viable way forward to promote renewable energy transition under worsening global and domestic energy inflation for sustainable…

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Elites struggle to capture resources

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wind-enery

ISLAMABAD: Pakistan’s elites are engaged in a battle for the capture of resources and power as part of a clientelist patronage state, said British economist Stefan Dercon, on Friday. He emphasised that their motivation does not prioritise economic growth and development in the country. Dercon argued that there is an underlying elite bargain for the status quo among powerful elite groups comprising the leading political class, leading business class, leading individuals in the military, leading figures in civil society, leading members of the civil service, intellectuals, and journalists. The British…

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SIFC sparks Iranian interest

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SIFC-sparks

LAHORE: The Ambassador of Iran, Dr Reza Amiri Moghaddam, on Friday, expressed optimism about two transformative initiatives being undertaken by Pakistan’s government, highlighting their potential for robust economic growth. These initiatives, namely the Special Investment Facilitation Council (SIFC) and the Barter Trade Mechanism (BTM), are beginning to yield promising results. Speaking at the Lahore Chamber of Commerce & Industry (LCCI), alongside Iran’s Consul General in Lahore, Mehran MovahhedFar, Moghaddam emphasised the significance of reducing trade costs, with a particular focus on enhancing transportation to bolster product competitiveness. He underscored the…

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Plants accused of overcharging for low-quality coal

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coal

ISLAMABAD: Shocking revelations emerged during a public hearing on coal pricing mechanisms, indicating that coal power plants in Pakistan are manipulating coal prices by importing lower-quality coal for their operations. In a significant disclosure, it was revealed that the Sahiwal coal power plant had procured coal at a time when coal prices were high and maintained an inventory that was ultimately unused due to merit order. What raised concerns among the authorities was that these power plants were not claiming capacity payments, which should have been recovered from power consumers.…

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