Category: Shortcode

Power projects under CPEC: Contract renegotiation proposals may again be floated

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CPEC-IPPs

ISLAMABAD: Pakistan is likely to again float proposals to Chinese government for renegotiation on contracts of power projects established under CPEC on the pattern of other IPPs or to purchase 1200-MW electricity from Pakistan for onward supply to power deficient Afghanistan. This idea is under active consideration at the highest level due to rising exceptional capacity payments, which has choked the entire power sector and is the main reason behind the inflated bills to consumers. According to sources, overdues/receivables of CPEC IPPs are now Rs 300 billion despite the fact…

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Provinces, LEAs to be taken on board: PM asks power sector to act against defaulters

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Anwaarul-Haq

ISLAMABAD: Caretaker Prime Minister Anwaar ul Haq Kakar has asked the power sector to take immediate action against electricity defaulters in collaboration with the provinces and law enforcement agencies. A review meeting of the power sector was presided over by the caretaker prime minister which was attended by Federal Minister for Power, Muhammad Ali, Adviser to the Prime Minister, Ahad Khan Cheema and senior officials concerned. The caretaker premier was given a detailed briefing on the electricity sector, the overall production capacity of electricity, production and delivery throughout the year…

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COAS assures traders of ‘transparency’ in forex rate

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Asim-Munir

LAHORE: Chief of Army Staff (COAS) General Asim Munir on Sunday assured the business community of fostering transparency in dollar exchange and interbank rates. “The money exchanges would be brought under the purview of taxation, fostering transparency in dollar exchange and interbank rates,” the COAS said while talking to the business community at a meeting held at the Lahore Corps headquarters. The army chief highlighted the pivotal role of the Special Investment Facilitation Council (SIFC), emphasising its potential to attract substantial investments of up to 100 billion dollars from countries such…

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Free electricity quotas merely tip of iceberg

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power-tariff

• Power sector employees, govt officials using ‘free electricity’ worth Rs22bn yearly• Need stressed to review IPPs agreements as liabilities surge to Rs2tr LAHORE: The total cost of free electricity units being used by the state-owned entities in the country’s power sector alone ranges between Rs22 billion and Rs25bn per annum whereas the allowances being given to other government departments’ employees from grade 1 to 22 are also worth billions, leaving the government with no option but to pass on such a huge financial impact to consumers. However, highly-placed sources…

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Electricity issues cast dim light on engineering sector

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electricty

• PIDE survey reveals 83pc firms link inability to meet targets with lack of power• 78pc companies say electricity scarcity hinders operational efficiency ISLAMABAD: Despite surplus power generation capacity, most of the country’s engineering firms have held electricity scarcity and its poor supply responsible for their inability to meet production goals and achieve operational efficiency, thus losing competitiveness, whereas 95 per cent firms reported no access to finance. This has been disclosed by the state-run Pakistan Institute of Development Economics (PIDE) in a study spearheaded by its vice chancellor, Dr Nadeemul Haque.…

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