Tag: CPEC

**LESCO Reduces NEPRA-Related Losses by Rs58 Billion in Two Years**

Admin
New-LESCO

  **LAHORE:** The Lahore Electric Supply Company (LESCO) has reduced its NEPRA-related financial gap from **Rs79 billion to around Rs21 billion** over the past two years, generating cumulative savings of more than **Rs58 billion** for the national exchequer. According to a statement issued by the Power Division on Friday, LESCO also achieved a **recovery rate of 101.05%**, surpassing the National Electric Power Regulatory Authority’s (NEPRA) regulatory benchmark of 100% for the first time in the company’s history. The utility further recorded a significant decline in distribution losses, bringing them down…

Read More

**Seminar calls for affordable solar solutions to strengthen Pakistan’s energy security**

Admin
Bajaur-Solar

  **KARACHI:** Energy experts, economists and policy specialists have urged the government to make solar power more affordable for heat-stressed and low-income households, stressing that equitable access to clean energy is essential for Pakistan’s long-term energy security and climate resilience. The recommendations were made during a seminar titled **”Pakistan’s Energy Security: The Reality for Working People,”** jointly organised by **The Knowledge Forum (TKF)** and the **Karachi Union of Journalists (KUJ)** at the Karachi Press Club. Speaking at the event, former adviser to the chief ministers of Sindh and Balochistan, **Dr…

Read More

**Pakistan secures safe passage for Qatari LNG cargo through Iran amid energy crisis**

Admin
New-LNG

  **ISLAMABAD:** Pakistan has successfully negotiated with Iran to ensure the safe passage of at least one Qatari liquefied natural gas (LNG) shipment through the Strait of Hormuz, in a move aimed at easing the country’s worsening energy crisis, according to Bloomberg. The LNG carrier **Al Areesh**, which had been anchored in the Persian Gulf after loading cargo at Qatar’s Ras Laffan export terminal earlier this month, transited the Strait of Hormuz on Thursday, according to Bloomberg ship-tracking data. The vessel crossed the strategic waterway with its transponders switched on…

Read More

Pakistan Moves to Settle Rs320bn CPEC Plant Dues With Rs565bn Financing

Admin
CPEC-IPPs

ISLAMABAD: Pakistan has secured Rs565 billion under a Rs1.225 trillion financing package with 18 commercial banks, paving the way for long-delayed settlements with seven China-Pakistan Economic Corridor (CPEC) coal-based Independent Power Producers (IPPs). Of the total raised, Rs660 billion has already been allocated to clear Power Holding Company (PHL) debt, while the remaining Rs565 billion is earmarked for payments to CPEC coal plants and 49 wind and solar IPPs. The government is pressing Chinese operators for a Rs170 billion waiver in late payment interest (LPI), reducing the Rs320 billion outstanding…

Read More

CPEC Enters Phase-II: Pakistan, China Unveil Decade-Long Roadmap as JCC Concludes in Beijing

Admin
625772_5033605_updates.webp

Payment issue with Chinese IPPs remains unresolved; focus shifts to industrialisation, ML-1, and Gwadar development ISLAMABAD: The 14th Joint Cooperation Committee (JCC) meeting of the China-Pakistan Economic Corridor (CPEC) concluded in Beijing on Friday, ushering in Phase-II of the landmark initiative with a comprehensive roadmap for the next decade. However, the long-standing issue of capacity payments to Chinese Independent Power Producers (IPPs) remained unresolved, as Islamabad sought an extension in repayment timelines. Federal Minister for Planning Ahsan Iqbal, in his closing remarks, hailed CPEC Phase-II as a “corridor of industrialisation,…

Read More