Articles for tag: anti-theft unit, claims, debt, Division, frozen, International Monetary Fund, Latest, Power, power division, revolving, Rs2310tr

February 21, 2024

Islamabad: The Power Division on Tuesday claimed to have achieved the target of freezing the cyclical debt at Rs 2,310 trillion by December 21, 2023, in its efforts to manage the power sector and address technical and commercial losses.The secretary of the Power Department briefed a meeting of the Senate Standing Committee on Power, chaired by Senator Azam Nazeer Tarar, about this achievement. The Energy Department Secretary provided a detailed update on the status of circular debt, explaining that all circular debts had met the set target of Rs 2.310 trillion as on 21 December 2023, including those successfully negotiated

February 8, 2024

News Desk

Business

The government will expand the scope of talks with IPPs to reduce tariffs

Islamabad: As electricity prices continue to rise, the government has decided to expand the scope of negotiations with independent power plants (IPPs) to cover hydel and natural gas-based projects as well, in a bid to reduce tariffs. Earlier, the Pakistan Tehreek-e-Insaf (PTI) government had started negotiations with the IPPs to revise the dollar indexation clause. A cap has been put in place to control electricity prices rising with further depreciation of the rupee. The current caretaker government has continued negotiations with wind power producers. Now, it has decided to talk to hydel and gas based IPPs as well. In a

January 2, 2024

News Desk

Business

Privatization of power plants is encouraged

Islamabad: As a significant portion of Pakistan’s government debt includes loans to the power sector, policymakers have emphasized the importance of privatizing state-owned power producers to rein in the relentless cyclical debt. They expressed serious concerns that there was a significant amount of foreign loans outstanding against the state-owned power producers (GPPs), which would have to be recovered from the payments proposed to be made to these generating companies (Gencos). Sources in the Ministry of Energy (Electricity Department) pointed out that Gencos owed a lot of debt and considering that privatization should be considered to ease the cyclical debt burden

December 14, 2023

News Desk

Business

Key agreements with the KE were delayed amid objections from the cabinet

Islamabad: Pakistan on Wednesday postponed the approval of four key agreements between the government and K-Electric, the country’s largest integrated electricity distribution company. This decision came about due to objections expressed by some cabinet members during the meeting of the Economic Coordinating Committee of the Council of Ministers. The drafts under discussion included the Power Purchase Agency Agreement (PPA), the Interconnection Agreement, the Differential Tariff Subsidy Agreement and the Mediation Agreement, according to the finance ministry. However, the final approval was postponed due to several comments from the members of the Greek Cypriot Council, resulting in the need for a

Power Division claims revolving debt frozen at Rs2,310tr

The government will expand the scope of talks with IPPs to reduce tariffs

Privatization of power plants is encouraged

Key agreements with the KE were delayed amid objections from the cabinet

Asif Khaliq drives blue-eyed Chaiwala Arshad Khan’s London success

Munir and Naqvi Join Makkah Pact Talks in Tehran

Iran Says the Border Is Open as Pakistan Ships LPG by Sea