China Kingho Group to invest in Thar Coal field

"Thar coal field in Sindh is spread over more than 9000 sq km and is bestowed with 175 billion tons of lignite coal." — File Photo

ISLAMABAD: The Kingho Group being the largest private group of China has expressed its keen interest to Invest in Thar Coal project.

A seven-member delegation of M/s. China Kingho Group, headed by Executive Vice President Ma Xiaomin, visited Board of Investment (BOI) to explore investment opportunities in Pakistan in coal sector and development of coal fields of Thar, Badin, says a statement issued here.

Minister of State and BOI Chairman Saleem H.Mandviwalla stressed that in order to sustain economic growth, Pakistan needed to develop its indigenous energy resources rapidly.

Deal signed for coal, cement terminal

KARACHI: An agreement was signed on Saturday for the development of the country’s first mechanised and fully automated coal, cement and clinker terminal on a 30-year Build, Operate and Transfer (BOT) basis.

Chairman of Port Qasim Authority (PQA) Vice Admiral M Shafi and Chief Executive Officer of Pakistan International Bulk Terminal Limited (PIBTL) Sharique A Siddiqui signed the implementation agreement.
The terminal construction will cost around $173 million. It is expected to become operational in three years with an initial project cost of $140 million.

KESC reduces power outages for residential areas

KESC has announced the reduction in the duration of power cuts in the residential areas of Karachi.

 

A KESC spokesperson on Tuesday announced a reduction in the duration of power cuts after receiving 80 mega watts of power supply from Kanupp Nuclear power plant.

The duration of power outages will vary from seven to five hours in different areas. Industrial areas, however, continue to experience up to 12 hours of power cuts.

Strike on, strike off

Industrialists irked by power outages, assured by Sindh governor. 

KARACHI: Industrialists have rescinded an appeal for a strike on Wednesday on the back of assurances by Sindh Governor Dr Ishratul Ibad. The governor said that emergency measures would be taken to ensure the supply of electricity to industries and to improve industrial conditions.

Following the governor’s assurances, the Korangi Association of Trade and Industry (KATI) decided not to go through with a strike on Wednesday.

Crucial talks with IMF, WB put off for three days

The talks have been suspended so that the economic managers could seek President Zardari's intervention in taking difficult economic decisions.—Reuters photo

ISLAMABAD: The crucial talks between the government and twin missions of the International Monetary Fund and World Bank remained suspended for a day on Tuesday and then put off for another two days to seek top level political intervention in difficult economic decisions.

Informed sources told Dawn that the two sides were originally scheduled to conclude on Tuesday, or latest by Wednesday, their negotiations on macroeconomic framework and on a strategy for economic stabilisation and containing the rising fiscal deficit.

Industries to shutdown in protest against power cuts

KARACHI: The representatives of the six industrial areas of Karachi have decided to observe a shutdown on Wednesday if the Karachi Electric Supply Company (KESC) fails to restore uninterrupted supply by Tuesday.

The decision was taken at a joint meeting of the associations of the six industrial zones of Karachi, which took place at Korangi Association of Trade & Industry (KATI) on Saturday.

Chairmen of SITE Association of Industry, North Karachi Association of Trade & Industry, Federal B. Area Association of Trade & Industry, Landhi Association of Trade & Industry, Korangi Association of Trade & Industry, and SITE Super Highway Association of Trade & Industry represented their associations at the meeting besides others.

Power, petroleum ministries to be merged

A employee installs a new electricity tower in Karachi. -AFP File Photo

ISLAMABAD: With the oil import bill estimated to increase by about 300 per cent to $38 billion by 2015, the government has concurred with the Friends of Democratic Pakistan (FoDP) to merge the ministries of power and petroleum and their sectoral regulators for an integrated solution to the energy crisis.
The government has also agreed to substantially increase power tariff for domestic consumers using over 300 units per month to bring it on a par with the average tariff for industrial and commercial consumers.

Fuel cost declines but power tariff cut unlikely

ISLAMABAD: It may be possible to reduce the power tariff on May 1 by at least 65 paisa per unit on account of declining fuel costs, but the government is not likely to pass on this benefit to consumers because of a commitment made to the International Monetary Fund.
The government amended the Nepra Act of 1997 through finance bill 2009-10 under International Monetary Fund directives to pass on the impact of variation in fuel cost to consumers every month through a fuel adjustment formula. Over the past many months, the tariff has been continuously rising because of increase in oil prices in international markets.

Govt promises to raise power tariff by 6pc

ISLAMABAD: A crucial meeting of the International Monetary Fund’s (IMF) executive board, which has to approve the 5th tranche of $1.2 billion for Pakistan under its standby arrangement programme, has been delayed till mid-May because of the insertion of a new paragraph on the power sector, according to the letter of intent made available to The News.

Earlier, the meeting was set for May 3, but now it would take place on May 15 in Washington. This meeting has been postponed in April also because of Pakistan’s failure to introduce a bill on the Value-Added Tax (VAT) before the Parliament on time.

Two weekly holidays for banks and government offices

ISLAMABAD: The Interior Ministry issued a notice on Friday announcing two weekly holidays to take place in government offices.
 
According to the notification, the new office timing for government employees would be from 8:00 am to 4:00 pm.

US to help refurbish power plants

LAHORE: Help for Pakistan’s energy sector will be a top priority in plans for direct US investment in the country under the Kerry-Lugar Bill, Administrator of the US Agency for International Development (USAID), Dr Rajiv Shah, said here on Wednesday.

“The US will help refurbish three thermal and one hydel power plant that will add some 4,500MW to the national grid,” Mr Shah said while talking to this correspondent at Lahore airport before leaving for Islamabad. USAID’s Pakistan Mission Director Robert Wilson was also present.

PSMA demands 11 cents for captive power

 ISLAMABAD: The Pakistan Sugar Mills Association (PSMA) has rejected the 9.28 cents per kWh offer by National Electric Power Regulatory Authority (Nepra) to produce electricity for the national grid.
The PSMA members in a meeting held here on Wednesday observed that the minimum tariff for the captive power produced by the sugar mills should be 11 cents per kWh.

WB, ADB differ over quantum of power tariff hike

ISLAMABAD: The World Bank and the Asian Development Bank differ on the quantum of the planned increase in power tariff, a senior official of the Ministry of Finance told the News.

If the ADB’s view is accepted, the government will have to increase power tariff by 20 per cent. The government will, however, have to increase power tariff by 10 per cent if the WB’s input is taken into consideration.

Plans afoot to generate 3,000MW in next five years

KARACHI: The government is planning to tap sugar industry resources and to generate around 3,000 megawatts during the next five years to meet power shortage in the country. This will help in reducing the import bill of furnace oil by $980 million.

ìGeneration of cheaper electricity through renewable resources and use of bagasse in the sugar industry will be encouraged,î an official in the National Electric Power Regulatory Authority (Nepra) said, adding that Nepra has taken a landmark decision to provide incentives to those sugar mills who have shown their readiness to generate electricity for the national grid by the end of March 2014.

Govt likely to continue hiring power projects

 











ISLAMABAD: Discouraged by a lack of interest in the private sector, the government is considering to add about 8,800MW of power generation capacity in the public sector by 2015 and continue to hire power projects to meet electricity requirement.

Public sector investment in power sector capacity addition was prohibited during the Pervez Musharraf-Shaukat Aziz administration and that is one of the main causes of the current electricity shortfall, sometimes exceeding 5,500MW. Emergency efforts to install rental power projects and fast track IPPs have only added to the rising electricity cost and that too without sufficient supplies.

KESC adds coal-based power to system

KARACHI: The Karachi Electric Supply Company (KESC) has added 15 MW of electricity generation capacity to its network from coal-based power plant of Al-Abbas Sugar Mills Limited located in Dhabeji.

This is the first coal-fired power plant connected to the KESC network, the utility said in a press release on Monday. Tabish Gauhar, CEO, KESC, said that the company aims to add more power to its network to effectively manage the energy requirements of the city.