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Energy generation, distribution to be reformed: PM Imran - Pakistan
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PM directs Power Division to save consumers from load management
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PM Imran Khan directs to finalise Tight Gas Policy by September
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This comes at a time when the energy sector is facing serious gas and electricity shortages and both gas and power companies are struggling with their financials to ensure smooth supplies. Reuters/File
ISLAMABAD: Amid system challenges, the Petroleum Division is seeking an average national basket price for natural gas both local and imported through a distant ‘political consensus’ even though it has fixed price commitments with various consumer groups.
This comes at a time when the energy sector is facing serious gas and electricity shortages and both gas and power companies are struggling with their financials to ensure smooth supplies. The federal government has been asking the provinces for introduction of weighted average cost of gas (WACOG) by moving away from ring-fenced pricing and supply of local gas and imported liquefied natural gas (LNG) to various consumer categories.
The committee also revived an implementation committee led by the finance minister with the addition of a representative from law division which had concluded agreements with about 47 IPPs in February this year. AFP/File
ISLAMABAD: Reversing earlier decisions and agreements, the government on Thursday decided to ‘re-negotiate’ once again power purchase agreements (PPA) with about a dozen independent power producers (IPPs) set up under Policy for Power Generation 2002 to recover ‘excess payments’ they had secured from the government.
The Cabinet Committee on Energy (CCoE), presided over by Planning Minister Asad Umar, took this decision on the advice of the National Accountability Bureau (NAB) for recovery of about Rs52bn including about Rs8.4bn from Nishat Chunian project of Mansha Group. The committee also revived an implementation committee led by the finance minister with the addition of a representative from law division which had concluded agreements with about 47 IP