Express
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IPP built for Rs50 billion has received Rs400 billion in payments: FPCCI | The Express Tribune
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[ad_1] Abdul Mohamin, the acting president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has called for public disclosure of details related to agreements with Independent Power Producers (IPPs). During a press conference on Monday, Mohamin highlighted that IPPs are receiving monthly capacity payments amounting to Rs150 billion, including payments to non-operational…
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PSX tumbles as KSE-100 index falls below 80,000 points | The Express Tribune
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[ad_1] The trading week started on a bearish note, with the Pakistan Stock Exchange (PSX) experiencing a significant drop compared to previous weeks which was marked with high points and investors’ confidence. The KSE 100 Index fell below the 80,000 points level, marking a sharp decline of 625 points or 0.79% to reach 79,492 points,…
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No ยcapacity paymentsย for small hydel units | The Express Tribune
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[ad_1] ISLAMABAD: The government has decided to eliminate the concept of โcapacity paymentsโ for small hydropower projects, aiming to reduce the financial burden on power consumers. Currently, consumers are shouldering 70% of electricity costs due to these payments made to Independent Power Producers (IPPs), totalling around Rs2.2 trillion annually to those not producing a single…
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Capacity charges driving up Pakistanโs electricity costs | The Express Tribune
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[ad_1] The escalating electricity costs in Pakistan are largely attributed to capacity charges, with 22 government-owned companies accounting for a substantial 48% of these charges. In the past three months alone, these companies have received a staggering Rs169.36 billion in capacity charges, according to sources. This financial allocation continues despite many of these power plants…
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Power plants rake in Rs10b monthly with zero power output: NEPRA data reveals shocking truth | The Express Tribune
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[ad_1] The former caretaker minister for Commerce and Industries Dr Gohar Ejaz, while referring to National Electric Power Regulatory Authority (NEPRA) data has stated that at least four power plants which are receiving Rs10 billion per month are running without supplying any electricity at all. In a post shared on X (formerly Twitter) on Sunday,…
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Electricity consumers in for another shock | The Express Tribune
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[ad_1] ISLAMABAD: The consumers of power distribution companies (DISCOs) as well as the people of the countryโs economic hubโKarachiโare in for another shock as the power regulator may further raise the prices of per unit electricity. K-Electric, the power utility that supplies electricity to Karachi, has requested Nepra for an increase of Rs5.45 per unit…
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OMAP alerts PM Shehbaz of impending Petroleum Industry crisis | The Express Tribune
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[ad_1] LAHORE: The Oil Marketing Association of Pakistan (OMAP) has penned a letter to the Prime Minister Shehbaz Sharif stating that the petroleum industry in the country is “on the brink of collapse.” In the letter written to the PM on Saturday, Chairman of the Association Tariq Wazir Ali appealed to the premier to intervene…
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Ultra-rich threaten to leave Britain over tax changes | The Express Tribune
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[ad_1] For ultra-wealthy entrepreneur Bassim Haidar, living in London has become an expensive indulgence he can no longer justify. While new British Prime Minister Keir Starmer settles into No. 10 Downing St, Haidar is searching for homes in Greece and Monaco, because a proposed inheritance tax revamp will make Britain a ‘no go’ zone for…
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Tรผrkiye to send navy support to Somali waters for oil and gas exploration | The Express Tribune
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[ad_1] ANKARA: Tรผrkiye is set to bolster its naval presence in Somali waters following an agreement between the two nations for Ankara to send an exploration vessel off the coast of Somalia to prospect for oil and gas. President Tayyip Erdogan submitted a motion to the Turkish parliament late on Friday, seeking authorisation for the…
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Industrialists fear decline in textile exports | The Express Tribune
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[ad_1] LAHORE: Textile exporters have voiced fear that the new fiscal year will pose a significant challenge to the entire industry, as it is becoming increasingly difficult to sustain and fetch export orders in the current high-cost scenario. In the previous fiscal year, textile exports were nearly flat at $16.7 billion. However, they said, โwe…
