Officials to get NAB’s nod to clear 40pc dues of 12 IPPs
National
May 19, 2021
ISLAMABAD: After the federal cabinet here on Tuesday accorded approval to the amount of Rs89.86 billion to be doled out to 35 IPPs out of 47 as the first installment, the top officials of the government have started working to offload 40 percent dues of the leftover 12 IPPs set up under the 2002 power policy which are facing NAB investigation for making alleged excess profits. Once it is done, it will make the revised contracts a success story.
To this effect, the top man of the PTI government would play a role to get a nod from the NAB in proper language acceptable to the top bureaucracy in both the Power and Finance Divisions for releasing the 40 percent dues to the remaining 12 IPPs.
KSE-100: Covid fears weigh down index by 93 points
April 22, 2021
Investors treaded cautiously at Pakistan Stock Exchange (PSX) on Wednesday, as overall lack of positive triggers, and rising Covid fears restrained the index and resulted in range-bound trading.
On Wednesday, the benchmark KSE-100 opened on a bullish note and touched intra-day high at 45,626.88 level after gaining 227.1 points. However, paring early gains the index reversed its trajectory and clocked at 45,306.54 level by the closing bell after posting a 93 points loss.
During the session the market was gripped with fears of rising Covid cases, after the Federal Minister for Planning and Development and the Chief of the National Command and Operation Centre (NCOC) Asad Umar on Wednesday issued a warning and said that if the coronavirus situation continues to worsen in the country, the government will be compelled to impose more restrictions, which dampened investors’ confidence.
NEPRA to review agreements between govt and IPPs
Published On
NEPRA to review agreements between govt and IPPs
ISLAMABAD (Dunya News) – National Electric Power Regulatory Authority (NEPRA) has decided to review the agreements reached between the government and Independent power producers (IPPs). The authority will hold a hearing on March 3.
NEPRA will hear the Central Power Purchasing Agency (CPPA)’s petition regarding tariff adjustment with IPPs. During the hearing, the agreements between power plants and Jahangir Tareen’s JDW Sugar Mills, Khusro Bakhtiar’s brother’s RYK sugar mills, Hamza Sugar Mills and Almoiz Industries will be reviewed.
Agreements with Atlas Power, Engro Power Qadirpur, Liberty Power Narowal, Nishat Chunian, Nishat Power, Orient Power, Safe Power and Sapphire Power will also be reviewed.
Market watch: KSE-100 loses ground, falls below 46,000
Benchmark index drops 103 points to settle at 45,989.35
Shares of 405 companies were traded. At the end of the day, 187 stocks closed higher. PHOTO: FILE
KARACHI:
A day after breaching the 46,000-point barrier, the bourse turned bearish on Thursday and the KSE-100 index shed 103 points as Moody’s report on Pakistan’s economy played on investors’ mind and they resorted to profit-booking.
Moody’s Investors Service on Wednesday projected that Pakistan’s economy would grow at a slow pace of 1.5% during the ongoing fiscal year, which pushed market players to divest their stockholdings.
In the morning, trading began on a positive note, however, the optimism was overshadowed by gloomy news flow and as a result the index oscillated between green and red zones throughout the day.