Connect with us

pakistan

Pakistan’s electricity generation cost surges 59pc in Jan: research firm

Published

on

Pakistan's electricity generation cost surges 59pc in Jan: research firm

The country has witnessed 59 per cent increase in total cost of generating electricity, a leading securities brokerage and research firm says.

The power cost hit Rs11.20 KWh in January 2023 as compared to Rs7.04 KWh registered in December 2022. However, on a year-on-year (YoY) basis, electricity generation cost reduced by 8.3pc.

“On a YoY basis, the decrease in fuel cost is witnessed mainly due to a rise in nuclear, hydel, wind, and solar-based generation,” said Arif Habib Limited (AHL) in a note on Monday.

“While on MoM basis, the rise in fuel cost is triggered by a decline in hydel and nuclear-based generation,” it added.

Advertisement

The power generation in the country witnessed a marginal increase of 1.2% on a monthly basis to 8,515 GWh (11,445 MW) in January 2023, compared to 8,417 GWh in December. On a yearly basis, electricity generation registered a drop of 3.2%, as compared to 8,797 GWh (11,824 MW) recorded in January 2022.

During 7MFY23, power generation also decreased by 7.3% YoY to 77,085 GWh (14,939 MW) compared to 83,193 GWh (16,123 MW) during 7MFY22.

Moreover, the cost of power generation during the first seven months of the ongoing fiscal year was up 21.9%, from Rs7.68 in 7MFY22 to Rs9.36 in 7MFY23.

Data on generation mix revealed that electricity generation decline on a yearly basis was led by coal 2,444 GWh, and Residual Fuel Oil (RFO) 463 GWh, which decreased by 16.2% and 62.6%, respectively.

Meanwhile, power generation from hydel and RLNG sources stood at 800 GWh and 1,286 GWh respectively, showing an increase of 56% and 105.2%, respectively, on a yearly basis.

Advertisement

Moreover, electricity generation from wind sources improved by 47.4% on a yearly basis to 287 GWh, while power generation from other renewable sources such as solar also witnessed a 54.9% increase on a yearly basis at 72 GWh.

In January, coal was the leading source of power generation, accounting for 28.7% of the generation mix, to become the largest source of electricity generation in the country.

Followed by nuclear, this accounted for 22% of the overall generation, registering a generation of 1,876 GWh in January up by 48.3% YoY.

Advertisement

pakistan

Former PM Raja Parvez Ashraf raises concerns over IMF bailout conditions

Former PM Raja Parvez Ashraf raises concerns over IMF bailout conditions

Published

on

By

Former PM Raja Parvez Ashraf raises concerns over IMF bailout conditions

Former prime minister Raja Parvez Ashraf has raised concerns about the potential conditions of the new IMF bailout package for Pakistan.

In a statement issued on Friday, the PPP Central Punjab President suggested that the government should brief parliament on the IMF package, with the finance minister providing lawmakers with details on new taxes and approved austerity measures during an in-camera session.

Ashraf underscored that instead of privatising Pakistan International Airlines (PIA) and other vital institutions, state-owned enterprises should be managed through public-private partnerships.

The former PM strongly opposed the idea of imposing taxes on pensioners, deeming it unacceptable. He urged the Finance Ministry to seek an alternative solution.

Advertisement

Raja Parvez Ashraf also highlighted the potential for enhanced harmony between the Centre and the provinces through the full implementation of the 18th Amendment.

He also proposed the abolition of unnecessary ministries to alleviate the financial burden on the federation.

Continue Reading

pakistan

Pakistan slams Indian atrocities against minorities, Kashmiris at UN

Pakistan slams Indian atrocities against minorities, Kashmiris at UN

Published

on

By

Pakistan slams Indian atrocities against minorities, Kashmiris at UN

Pakistan addressed the UN General Assembly on Thursday, asserting that India was targeting Indian Muslims, Christians and Muslims in occupied Kashmir, and urged an end to their harsh suppression.

Ambassador Munir Akram stated during a debate on ‘Culture of Peace’ that since the BJP-RSS government took office in 2014, hate, oppression and violence against India’s 200 million Muslims, as well as other minorities like Christians and the ‘lower-caste’ Dalits, became rampant and systematic, driven by the ideology of Hindutva.

The envoy emphasised that unless Hindutva fascism was opposed and the impunity of the BJP-RSS ended, wider violence and conflict in South Asia would remain a real and present danger.

Despite efforts to promote a “Culture of Peace,” Akram noted a rise in hate, violence and war worldwide, with over 300 conflicts raging across the globe.

Advertisement

Highlighting Pakistan’s efforts to combat Islamophobia, Akram expressed deep concern at the officially sanctioned manifestations of Islamophobia in India, citing the Citizenship Law and National Registry list designed to exclude Muslims from citizenship.

The envoy warned of the spread of Hindutva extremism, which he said turbo-charged repression in occupied Jammu and Kashmir. He called for urgent resolution of the Kashmir dispute in accordance with UN resolutions and the wishes of the Kashmiri people.

Akram also highlighted India’s belligerence towards Pakistan, citing threats from Indian officials to “take over” Azad Kashmir and dangerous military doctrines adopted by India.

He accused India of financing and sponsoring terrorist groups to disrupt the China-Pakistan Economic Corridor (CPEC), and highlighted Pakistan’s concerns over India’s campaign of targeted assassinations, even beyond its borders.

Akram emphasised the urgent need for the international community to address these issues and reiterated Pakistan’s commitment to peace and stability in the region.

Advertisement

Continue Reading

pakistan

NA Secretariat accepts inclusion of independent members in SIC

NA Secretariat accepts inclusion of independent members in SIC

Published

on

By

NA Secretariat accepts inclusion of independent members in SIC

he National Assembly Secretariat has accepted the inclusion of independent members (PTI-backed MNAs) in the Sunni Ittehad Council (SIC), Dunya News reported.

The National Assembly Secretariat has released a list of 83 members of Sunni Ittehad Council on its official website after the approval of NA Speaker Ayaz Sadiq.

After the inclusion of independent members, Sunni Ittehad Council has become second largest party in the lower house of the parliament with 83 members.

The Election Commission of Pakistan (ECP) had sent a notification regarding the inclusion of independent members in the SIC to the National Assembly Secretariat.

Advertisement

Continue Reading

Trending

Copyright © GLOBAL TIMES PAKISTAN