Tag: SECP

PM Directs Power Division to Develop Comprehensive Solution for KE Payment Settlement; NEPRA Announces Tariff Hearings

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power-subsidy

ISLAMABAD: Prime Minister Shehbaz Sharif has instructed the Power Division to formulate a comprehensive solution for resolving the longstanding receivables and payments between K-Electric (KE) and various government entities and departments. This directive came during a recent meeting addressing multiple power sector issues, sources told Business Recorder. The Power Division will work closely with the Cabinet Division and NEPRA to expedite the settlement of KE’s tariff claims. NEPRA has scheduled hearing dates for KE’s tariffs. The Prime Minister also ordered the Securities and Exchange Commission (SECP) to review the legality…

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Shanghai Electric extends deadline for K-Electric deal by 90 days

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KARACHI: China’s Shanghai Electric Power Company Limited (SEP) has extended its deadline to buy a majority stake in K-Electric Limited (KEL) by 90 days, the brokerage house managing the deal said on Monday. SEP, which agreed to acquire 66.40 percent of KEL’s shares for $1.77 billion in 2016, has faced delays in obtaining regulatory approvals from both China and Pakistan. The brokerage house, Arif Habib Limited (AHL), said in a notice to the Pakistan Stock Exchange (PSX) that SEP had requested more time to make the public announcement of the…

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Prospects of KE shares transfer to new buyers ‘unclear’

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k-electric

ISLAMABAD: The prospects of transfer of shares of K-Electric (KE) to new buyers are reportedly unclear as the federal government has directed its legal team to maintain status quo in Sindh High Court (SHC). Background interviews with circles aware of developments in the matter revealed that the legal team recently informed the government that they have succeeded in maintaining status quo in SHC as per the directions. A committee comprising caretaker Minister for Power, caretaker Minister for Privatisation and caretaker Minister for Law and Justice was constituted on 9th October…

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SIFC identifies 20 projects to woo foreign investors

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SIFC-identifies

ISLAMABAD: The much-trumpeted Special Investment Facilitation Council (SIFC) has so far identified and approved 20 projects for attracting multibillion-dollar investments from the Gulf states and others, out of which nine have been converted to the required template. It has also been considered to hold a study to explore the availability of lithium in Pakistan and joint investment in Afghanistan. The SIFC also decided to implement a plan for legislation for corporate contracts and cooperative farming on private land, such as provincial legislation to safeguard land rights and dispute resolution, establishing…

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