Category: Shortcode

Wapda’s hydro tariff increased by 29pc

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power-sector

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday approved about 29 per cent increase in average generation tariff for Wapda’s hydroelectric stations to meet its Rs155 billion annual revenue requirement. Under the decision, the average generation tariff for FY23 has been allowed at Rs4.96 per unit when compared to Rs3.85 per unit in FY22. The Rs1.11 per unit increase in generation tariff would, however, not jack up the average distribution tariff for end-consumers with the same proportion but translate into a nominal additional cost of the entire electricity…

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Oil, gas reserves to end in 15 years

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oil-gas.

Hydrocarbon deposits deplete rapidly since no new major discovery made KARACHI: Pakistan’s oil and gas reserves have depleted by 17% and 6%, respectively, in the past one year till June 2023 as no major hydrocarbon discovery has been made since long. It signals that leftover deposits will be fully consumed in the next 15 years, according to a research house that cited data of the Pakistan Petroleum Information Services (PPIS). In a report on oil and gas exploration, Arif Habib Limited analyst Muhammad Iqbal Jawaid said that Pakistan’s crude oil…

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CEOs of DISCOs summoned

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Matiari-Lahore

ISLAMABAD: Taking serious notice, the National Electric Power Regulatory Authority (Nepra) has responded to a wave of consumer complaints regarding excessive electricity billing and alleged meter reading discrepancies by summoning the Chief Executive Officers (CEOs) of all state-owned distribution companies next week. A substantial number of grievances were filed by electricity consumers at Nepra’s headquarters, primarily concerning incorrect meter readings leading to inflated bills, according to a Nepra spokesperson. In light of these serious concerns regarding overbilling, excessive unit charges, and meter reading irregularities, Nepra has taken decisive action by…

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Iran seeks extension in gas pipeline deal

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gas-pipeline

ISLAMABAD: As the threat of billions of dollars in penalty looms, Iran has asked Pakistan to extend their gas pipeline deal to keep the project alive in future. Pakistan and Iran have not been able to execute the Iran-Pakistan (IP) gas pipeline project because of longstanding US sanctions against Tehran over the latter’s alleged nuclear programme. Iran has already built years ago its part of the pipeline. Pakistan too was required to complete laying of the pipeline in December 2014 with planned start of gas delivery from January 1, 2015.…

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Kakar wants five-year economic plan drawn up

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Anwaarul-Haq

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar has directed the Ministry of Planning to prepare a five-year plan and national economic agenda to set a long-term economic direction. The planning ministry was also mandated for the constitution of different working groups to formulate the next five-year plan from 2023-24 to the fiscal year 2028-29. The planning ministry has also been mandated to prepare a national economic agenda for long-term economic direction, setting the goal of economic revival. Under the plan, the planning ministry has been assigned the task of consolidating and…

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