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Site update: April 25 2017, at 17:00 PKST
Stock update: April 25 2017.

Recent Financial News in the 'power-gen-dist' category

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Tuesday, April 25 2017

World Bank to help develop Pakistan’s renewable energy sector
ISLAMABAD: World Bank President Dr Jim Yong Kim on Monday offered technical and financial help in technological improvements in the renewable energy sector. He was talking to Finance Minister Ishaq Dar who called on him during the spring meetings of the World Bank and International Monetary Fund (IMF) in Washington, said a message received from the Embassy of Pakistan. Mr Dar acknowledged the role being played by the World Bank for resolving the disputes under the Indus Waters Treaty and urged expediting the process. He said the resolution of the issue “would lead to water security in the region”. He briefed Mr Kim about the improvement in the macroeconomic situation and said the focus was now on making the growth inclusive and sustainable. He informed innovative measures, including Pakistan Development Fund and Pakistan Infrastructure Bank, were being undertaken to maintain the higher growth trajectory, he said.
Related news categories: business economic-indicators misc power-gen-dist

WB to support hydropower, renewable energy projects
ISLAMABAD: The World Bank (WB) President, Dr Jim Yong Kim Monday assured bank's continued support for Pakistan's projects including Dasu and Tarbela as well as other hydropower projects. He was talking to Finance Minister, Senator Mohammad Ishaq Dar who called on The World Bank President at Washington, according to press statement issued by the finance minister here. He opined that Pakistan could further benefit from technological improvements in the renewable energy sector and offered The WB's technical and financial help in this regard. The World Bank President Jim Yong Kim congratulated the finance minister on successful completion of the IMF programme and hoped that Pakistan would continue with the reforms process to sustain the higher growth trajectory. Both the dignitaries also discussed in detail The WB's portfolio in Pakistan. On the occasion, the finance minister acknowledged the role being played by The World Bank for resolving disputes under the Indus Waters Treaty and urged expediting the process. He said the resolution of the issue "Would lead to water security in the region." Dar apprised President Kim about the improvement in the macro-economic situation in the country which had been acknowledged and appreciated by the international financial institutions.
Related news categories: business economic-indicators misc power-gen-dist

Monday, April 24 2017

Govt may ‘drop’ Muzaffargarh, RYK power plants from CPEC
ISLAMABAD - The government is likely to drop off 1,320 MW each Rahim yaar khan coal power plant and Muzaffargarh power plants from the China Pakistan Economic Corridor (CPEC) portfolio projects, it is learnt reliably here on Sunday. The Punjab government is wooing the federal government to incorporate these projects under CPEC umbrella project, official source told The Nation. “We don’t have enough coal locally to run the power plants and it is not feasible to operate it with imported one,” the source said. The Pakistani and Chinese authorities in the last JCC held in China agreed to include hydro power projects, in the northern Indus region, in the CPEC umbrella projects. Hydle is much cleaner and cheaper source of energy and to evaluate the feasibility, a Chinese expert team has already visited northern Indus river and will present its report to both the governments soon, the source said. Since Hydle is more cheaper and cleaner therefore it is more feasible than the coal one.
Related news categories: business economic-indicators misc power-gen-dist

Thursday, April 20 2017

PM given misleading figures for summer load-shedding plan
ISLAMABAD: The water and power secretary predicted that electricity outages would not exceed four hours a day across the country during warmer months from April to September this year, apparently misleading the prime minister as load-shedding had gone up to 16 hours due to scorching heat. Khawaja Asif confident that ‘power supply situation’ will improve Already, a secretary of the Ministry of Water and Power has been shown the door for painting a rosy picture of expected load-shedding this summer before Prime Minister Nawaz Sharif. Now, the new secretary Naseem Khokhar has also come up with misleading figures. In a high-level meeting held on April 10, he told the premier that average daily duration of load-shedding would be four hours in urban areas and three hours in rural areas from April to September 2017.
Related news categories: business economic-indicators misc power-gen-dist

PM to get into third energy huddle in a fortnight
ISLAMABAD: Prime Minister Nawaz Sharif has reportedly convened another meeting of the Cabinet Committee on Energy (CCOE) on Friday to follow up on his orders for the reduction in loadshedding as temperatures in major cities slightly came down on Wednesday. The Friday meeting of the CCOE will be the third huddle in a fortnight on increasing energy shortfalls and unscheduled loadshedding that have embarrassed the PML-N government at a crucial phase of its term. On Wednesday, the electricity shortfall ranged between 7,000 and 8,500 megawatts, resulting in an average loadshedding of almost 12 hours. This was significantly higher than 5,800MW of shortfall claimed by Minister for Water and Power Khawaja Asif in his midday tweets when he put demand at 19,405MW and generation at 13,575MW.
Related news categories: business economic-indicators misc power-gen-dist

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