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NEPRA allowed to increase power tariff despite massive power shortage

2009-07-27 00:31:47 (GMT) (Caymanmama.com - Pakistan News News)

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Latest Pakistan news of July 24, 2009 in passing

Supreme Court vacates order - cautions power producing companies on increasing tariff despite massive load shedding
Government’s claims of injuring Maulana Fazullah refuted by Taliban
Oil exploration companies invited - offered 53 blocks for oil exploration in Pakistan
Karachi Electric Supply Corporation put on 10 days notice
Re-launch of Deliverable Future Contracts in 18 scripts boots market sentiments

Supreme Court vacates order - cautions power producing companies on increasing tariff despite massive load shedding

Islamabad (Dawn.com): The power producing companies and NEPRA have been instructed to exercise caution before increasing power tariff. The court vacated its order that put a halt on the increase but said that NEPRA must inform the court before recommending power tariff increase. The court’s order said, ‘We do not want to interfere in your working, but the tariff formula should be in accordance with the rules.’

Government’s claims of injuring Maulana Fazullah refuted by Taliban

Peshawar (Dawn.com): The Taliban spokesman, Muslim Khan to the Associated Press, yesterday, that, ‘Taliban chief Fazlullah is alive, healthy and has never been wounded.’ This statement from Taliban negated all the previous claim by the Pakistani government that the Maulana Fazullah had been injured.

‘All of the Taliban leadership in Swat are alive and are in hiding with a strategy. We will continue our jihad until the enforcement of Sharia,’ he added.

Oil exploration companies invited - offered 53 blocks for oil exploration in Pakistan

London (Dawn.com): In the Pakistan oil and gas exploration conference that began in London yesterday, Pakistan offered oil exploration deals to international companies. Stating the extent of opportunity in Pakistan, Dr. Asim, PM’s adviser on Petroleum and natural resources explained that Pakistan is rich in natural resources and out of the estimated 27 million barrels of oil an 280 trillion cubic feet of gas only 3.4% of oil and 19% of gas has been explored.

The Pakistani government offered 53 blocks for the oil exploration companies for competitive bidding on this occasion.

Karachi Electric Supply Corporation put on 10 days notice

Islamabad (Dawn.com): The Karachi Electric Supply Corporation has been put on a days notice by the government of Pakistan. Raja Pervaiz Ashraf, the Minister of Water and Power has finally decided to act and visit Karachi to meet the managers of KSEC. The minister told the news reporters that, ‘We are keeping an eye on its operations and Nepra has already given a 10-day notice to the KESC.’

Re-launch of Deliverable Future Contracts in 18 scripts boots market sentiments

Karachi (Business Recorder): The Karachi Stock Exchange witnessed healthy buying activity with shares price index surging to 7,940.77 by mid -day. The surge in the KSE-100 index was attributed to the approval of re launch of deliverable future contracts in 18 scripts. The KSE trading ended with the 61.05 addition on board with 7,863.86 points on board.

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buzreporter · Filed Under Pakistan News 

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