Kot Addu Power Company Ltd (Kapco) said on Monday it has submitted a tariff petition to the National Electric Power Regulatory Authority (Nepra) for a reference generation tariff. The independent power producer (IPP) made the announcement as its original power purchase agreement (PPA) of 1996 completed its term on Oct 24. As a result, the operator of a multi-fuel–powered plant of 1,600 megawatt
The National Electric Power Regulatory Authority (Nepra) on Monday allowed Rs12.68 per unit increase in power rates for K-Electric under quarterly tariff adjustment (QTA) for the period — April to June FY2021-22, with a net additional revenue of about Rs56bn to the Karachi-based private utility. The decision is unlikely to affect consumers in Karachi because of uniform tariff policy of the go
Asian Development Bank (ADB) on Monday signed an agreement with Pakistan to provide a $1.5 billion loan for budgetary support and help flood-related rehabilitation and reconstruction activities. The loan agreement was signed by ADB’s Country Director Yong Ye and Secretary of Economic Affairs Division (EAD) Kazim Niaz. Prime Minister Shehbaz Sharif, Finance Minister Ishaq Dar, EAD Minister Ayaz
Though Pakistan will have to seek another loan from International Monetary Fund (IMF) to help recover from the recent catastrophic floods in the country, a report of Oxfam released on Monday recommends the country to avail the ‘Loss and Damage Finance Facility’ proposed by G77 plus China at the Climate Change Conference of the Parties (COP26). If the Loss and Damage Finance Facility is operatio
Pakistan is now formally off the dirty list of the global money laundering and terror financing watchdog, the Financial Action Task Force (FATF). It was grey listed in June 2018 due to strategic deficiencies in its anti-money laundering and combating financing terror (AML/CFT) regime. In June 2018, Pakistan made a high-level political commitment to work with the Paris-based FATF and its Sydney-