Category: Shortcode

Pakistan Reaffirms IMF Commitment: Gas Supply to Captive Power Plants to CeaseFinance Minister Addresses Senate Panel on Economic Reforms

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Gwadar-power

ISLAMABAD: Finance Minister Mohammad Aurangzeb has reiterated Pakistan’s commitment to the International Monetary Fund (IMF) by affirming the discontinuation of gas supply to captive power plants (CPPs), a promise made under the 2021 IMF agreement but left unimplemented by the previous government. During a heated Senate panel session, the finance minister emphasized that failing to honor the 2021 commitment had eroded the trust of the IMF. He assured that the current government would implement the IMF program without compromise, prioritizing macroeconomic stability over short-term growth ambitions. “The IMF program will…

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RLNG Diversion to Domestic Sector Rises to 450 mmcfd, Worsening Gas Circular Debt

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LNG

ISLAMABAD: The diversion of Re-gasified Liquefied Natural Gas (RLNG) to the domestic sector has surged to 450 million cubic feet per day (mmcfd) in January 2025, up from 250 mmcfd in December 2024, within Sui Northern’s jurisdiction. This increase significantly exacerbates the circular debt in the gas sector. The current domestic gas tariff averages Rs1,250 per MMBTU, while the RLNG tariff is Rs3,600 per MMBTU, creating a loss delta of Rs2,350 per MMBTU. A senior Petroleum Division official estimates the diversion loss from November 2024 to March 2025 at over…

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Chashma Nuclear Power Plant-5 to Be Constructed at Rs1.12 Trillion in 81 Months

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Chashma-Nuclear

ISLAMABAD: The Pakistan Atomic Energy Commission (PAEC) has submitted a petition to the National Electric Power Regulatory Authority (Nepra) seeking a levelized tariff of Rs16.7354 per unit (5.97 cents) for the upcoming Chashma Nuclear Power Plant-5 (C-5) project. The 1,200 MW facility is estimated to cost Rs1.124 trillion and will be completed within 81 months. The project financing comprises 19% equity and 81% debt, with the majority of funding sourced from China at an interest rate of 3%. The proposed tariff includes Rs19.8268 per unit for the initial 12 years…

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Engro Holdings Names Abdul Samad Dawood as New CEO

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Abdul-Samad

KARACHI: Engro Holdings Limited, one of Pakistan’s leading conglomerates, has announced the appointment of Abdul Samad Dawood as its new Chief Executive Officer (CEO), effective January 3, 2025. The decision was approved by the company’s Board of Directors (BoD) in a meeting held the same day. In a notice to the Pakistan Stock Exchange (PSX), Engro Holdings expressed its gratitude to outgoing CEO Mohammad Shamoon Chaudry for his invaluable contributions during his tenure. About Abdul Samad Dawood Abdul Samad Dawood brings over two decades of experience in management and governance…

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KE Expresses Shock as Five Renewable Energy Projects Excluded from IGCEP 2024

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K-Electric

ISLAMABAD: K-Electric (KE) has raised serious concerns over the exclusion of its five renewable energy projects from the Indicative Generation Capacity Expansion Plan (IGCEP) 2024, currently in its finalization stages. The power utility has communicated its grievances to Federal Minister for Power Sardar Awais Leghari, citing previous correspondence and engagements with the National Transmission and Dispatch Company (NTDC). KE claims that despite multiple submissions and requests for review, the draft IGCEP 2024 did not incorporate its proposed renewable energy projects, including approvals granted by NEPRA earlier in 2024. These projects,…

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