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Site update: July 21 2017, at 18:00 PKST
Stock update: July 21 2017.

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

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Friday, July 21 2017

AFD to provide €165m for energy projects
ISLAMABAD - Pakistan and French Development Agency (AFD) on Thursday signed two loan agreements worth 165 million euros. Finance Minister Ishaq Dar witnessed the signing of two loan agreements between Government of Pakistan and French Development Agency (AFD) for financing of energy sector projects of Power Transmission Enhancement Investment Tranche-IV and Mangla Power Plant Rehabilitation Project amounting to €165 million. Shahid Mahmood, Secretary Economic Affairs Division (EAD), Martine Dorance, Ambassador of France, and Jacky AMPROU, Country Director of the French Agency for Development (AFD), signed the agreements at a ceremony held at the Ministry of Finance on Thursday. Finance minister Ishaq Dar on the occasion appreciated AFD’s continued support and assistance for economic development of Pakistan. He also lauded and welcomed AFD‘s new strategy to develop and open new sectors of cooperation i.e. water & sanitation in Faisalabad, clean energy project in Kyber Pakhtunkhwa & Punjab and urban transport system in Kyber Pakhtunkhwa .
Related news categories: business economic-indicators misc power-gen-dist

Tuesday, July 18 2017

Govt urged to tap hydro power potential
FAISALABAD - Berkeley Associate Chief Executive Dr Tahir Masood has said that hydel generation should be utilised to overcome loadshedding and to ensure availability of cheap electricity to general public. While addressing a seminar on "Promotion of renewable energy resources in Pakistan" at FCCI, he said that the hydel power generation projects needs huge capital and long gestation period while on the contrary, the thermal units are being completed with less cost and shortest possible time period. Comparing the hydel and thermal electricity, he said that hydel electricity is the safest, cheapest and environment-friendly but it has its own handicaps as during the winter season, it production is reduced to the minimum due to the low availability of water in storage dams. On the contrary, the thermal power houses only needs a one month period for annual repair and maintenance to give continues electricity during the remaining period of the year.
Related news categories: business economic-indicators misc power-gen-dist

Monday, July 17 2017

Another imported coal-based plant in Punjab
ISLAMABAD: According to an advertisement of the Energy Department (Government of Punjab), yet another power plant based on imported coal has been approved. A contractual instrument has been signed with a Chinese company. Many people in this country have raised eyebrows on it, to say the least. In my opinion it is a bad decision which will hurt them and hurt us all. Let me tell you why. Siting power plants based on imported coal have been generally criticized for several reasons; imported coal will be transported from Karachi which would strain our Railway network, cause pollution and unseemly sights throughout its passage and will affect health and agricultural productivity. There is almost a consensus among experts that imported coal based power plants should be installed on sea coast and electricity be transported from Karachi rather than coal, which would be cleaner and possibly cheaper.
Related news categories: business economic-indicators misc power-gen-dist

IMF for ending inequitable subsidy on electricity tariff
ISLAMABAD: The Inter­national Monetary Fund (IMF) has advised Pakistan to completely eliminate inequitable subsidy on electricity tariff and replace it with direct cash transfers to the deserving to lift them out of poverty. In its latest report on Pakistan under Article-IV consultations with the government, the IMF also highlighted challenges being faced by the flagship Benazir Income Support Programme (BISP) even though it played a critical role in significantly reducing incidence of poverty in the country. It said subsidies remained an important element of Pakistan’s social assistance even though these declined significantly from about three per cent of GDP in fiscal year 2011-12 to 0.8pc in 2015-16 and electricity subsidies represented the bulk of subsidies at about 0.6pc of GDP in 2015-16.
Related news categories: business economic-indicators misc power-gen-dist

Friday, July 14 2017

Shanghai Electric & KE agreement to help resolve city’s power problem
KARACHI: The agreement between China's Shanghai Electric Power (SEP) and KE augurs well and it would contribute towards resolving the Karachi's power shortages. This was pointed out on the opening day of the two-day session held at a local hotel on Thursday. On the occasion, the K-Electric (KE) presented its review motion in response to the National Electric Power Regulatory Authority's Multi-Year Tariff (MYT) Determination 2017. Chairman NEPRA, Brig. (Retd) Tariq Sadozai, member from the Punjab, Saifullah Chatta, Himayatullah Khan from Khyber Pukhtunkhwa, Balochistan's Haroon Rasheed and Masood ul Hassan Naqvi of Sindh were also present on the occasion. Vice-President of Pakistan Chambers of Commerce and Industry (FPCCI) Mirza Ishtiaq Baig was of the view that the SEP-KE accord augurs well and this would contribute towards resolving Karachi's power shortage problem on permanent basis and would help improve KE's performance.
Related news categories: business economic-indicators misc power-gen-dist

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