Category: Shortcode

NEPRA Halts Security Deposit Hike, Slams DISCOs’ Justification

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NEPRA-KE

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has deferred its decision on the proposed hike in security deposit rates for electricity consumers, pending a comprehensive audit of deposits collected by power distribution companies (DISCOs). During a heated public hearing, DISCOs faced strong criticism from NEPRA members and stakeholders over their push for a substantial increase in security deposit rates. NEPRA officials, including Rafique Ahmad Shaikh, Mathar Niaz Rana, Amina Ahmed, and Maqsood Anwar Khan, expressed dissatisfaction with the DISCOs’ arguments, calling them weak and repetitive. The regulator viewed the…

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OGRA Cracks Down on LPG Safety Violations

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ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has launched a crackdown against gas theft, illegal decanting, and the hazardous mixing of carbon dioxide (CO2) with Liquefied Petroleum Gas (LPG) across Punjab, Sindh, and Khyber Pakhtunkhwa. Taking serious notice of safety violations, OGRA deployed enforcement teams to identified locations to curb illegal practices, including substandard cylinder manufacturing. In Sindh, particularly in Khairpur, Ghotki, Pano Aqil, and Ranipur, authorities traced CO2 mixing with LPG. Meanwhile, illegal LPG cylinder manufacturing sites were uncovered in Gujranwala. In collaboration with local administrations, OGRA teams…

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Financial Advisers Appointed for Three Power Discos

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Power project

ISLAMABAD: The Privatisation Commission has appointed financial advisers to oversee the divestment of Faisalabad, Gujranwala, and Islamabad power distribution companies (Discos) by the end of 2025. On Tuesday, the commission signed a Financial Advisory Services Agreement (FASA) with a consortium led by Alvarez & Marsal Middle East Ltd. The consortium includes International Consulting Associates (iConsult), Yousuf Adil Chartered Accountants, Vellani & Vellani, Power Planners International Pvt Ltd, and NEOS Group Inc. This marks a key step toward increasing private sector participation in Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power…

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Dr. Zeelaf Munir Elected Chairperson of Pakistan Business Council

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KARACHI: The Pakistan Business Council (PBC) has elected Dr. Zeelaf Munir as its new chairperson for an 18-month tenure, succeeding Shabbir Diwan, CEO of Gatron (Industries) Limited. Ziad Bashir, CEO of Gul Ahmed Textiles, has been elected as vice chairman. Dr. Zeelaf, who previously served as Vice Chairperson of PBC, is also the Managing Director & CEO of English Biscuit Manufacturers (Pvt) Ltd (EBM). She takes on this leadership role with a commitment to economic growth, policy advocacy, and strengthening Pakistan’s business ecosystem. The newly elected Board of Directors for…

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Lesco Cracks Down on 87 Defaulting Furnaces: Bank Accounts Frozen, SIMs Blocked

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Power-sector

ISLAMABAD: The Lahore Electric Supply Company (Lesco) has launched a major crackdown on 87 defaulting steel furnaces, freezing their bank accounts and blocking mobile SIMs to recover outstanding dues, sources told Business Recorder. Lesco has already disconnected these defaulters and conducted thorough site inspections, documenting all locations with photographic evidence. Awareness campaigns, including banners and wall chalking, have been carried out at defaulting premises. So far, Rs95.9 million has been recovered through installment-based payments, while recovery notices have been issued under the Land Revenue Act for 29 connections, with 27…

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