Despite macroeconomic and geopolitical challenges, KE is confident in serving its customers in a reliable and efficient way through a comprehensive, multi-pronged strategy. These comments were made by KE’s Chief Financial Officer Muhammad Aamir Ghaziani at a Corporate Briefing Session held at the Pakistan Stock Exchange (PSX) on Tuesday.… Continue
Chairman Businessmen Group (BMG) & Former President Karachi Chamber of Commerce & Industry Zubair Motiwala has said that Pakistan needs to increase the exports but it was not happening at all as the exports have been constantly declining because of unavailability of gas to the industries.… Continue
Power generation went down by 5% YoY to 10,705 GWh (14,388 MW) during Oct’22, compared to 11,296 GWh (15,183 MW) during Oct’21. The decline in the generation was owed to lower generations from FO, RLNG, and Coal by 87%, 32%, and 12% YoY, respectively.… Continue
NEPRA announced to conduct a public hearing on 30 November over the petition submitted by K-Electric on account of Fuel Charges Adjustments (FCA) for October 2022 and Quarterly Adjustments for July to September 2022.
For the month of October, K-Electric has filed a petition for the negative FCA at a rate of PKR 1.883/kWh and is the fourth consecutive negative FCA since July.… Continue
The Karachi Chamber of Commerce & Industry (KCCI) and Industrial Town Associations, while expressing deep concerns over suspension of gas supply to the industries in Karachi, stated that all the industries were almost closed and the pressure was zero, resulting in bringing the production activities to a complete standstill which would give a serious blow to the exports by terribly affecting the performance of export-oriented as well as general industries, besides triggering massive unemployment and creating chaos.… Continue
Indeed, it was a historic day for the gas industry in Pakistan. SSGC’s Chairperson Dr. Shamshad Akhtar inaugurated a new assembly line for measuring units of G-4 Gallus residential gas meters. The gas utility’s Meter Manufacturing Plant (MMP) is South East Asia’s only one of its kind located inside the Head Office compound.… Continue
The Sui Southern Gas Company Limited (SSGC) today would like to clarify the misguiding news circulating in the media regarding the suspension of gas supplies to the industrial sector through a statement which says that the gas utility is not suspending regular gas supplies to the industries.… Continue
As per news flow, the Economic Coordination Committee (ECC) met on 31st Oct’22 to discuss energy, petroleum, and commerce matters. At the meeting, the summary of the revision of margins of oil marketing companies was presented by the Ministry of Energy.… Continue
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said the problem of gas shortage in the country had not been solved in the last twenty years.… Continue
The national energy icon, Pakistan State Oil (PSO) reported a profit after tax of PKR 1.2 billion in Q1 of the financial year 2022-2023 while the group posted a net profit after tax of PKR 2.1 billion for the period despite the turbulent quarter.… Continue
The management of KAPCO held an analyst briefing today to discuss the FY22 results and give an outlook of the Company in the future.
Below are the key takeaways.
· To recall, KAPCO announced a profit after tax (PAT) of PKR 9.9bn (EPS: PKR 11.24) during FY22, down by 3% YoY due to i) lower true-up income and higher taxation due to imposition of super tax.… Continue
The Hub Power Company Limited (HUBC) announced its 1QFY23 financial result today where the company posted a profit after tax (PAT) of PKR 9,099mn (EPS: PKR 7.01), up by 23% YoY compared to PKR 7,417mn (EPS: PKR 5.72) during 1QFY22. The rise in earnings is majorly due to 35% YoY increase in share of profit form associates and joint venture and 90% rise in other income.… Continue
K-Electric (KE) held its 112th Annual General Meeting (AGM) for FY 2022. The meeting was chaired by Moonis Alvi – Chief Executive Officer, KE who was authorized to chair this meeting by the Chairman of the Board Mark Skelton. The Chairman and KE Board members were in attendance virtually, while KE leadership was present in person.… Continue
Kot Addu Power Company (KAPCO) announced its 1QFY23 financial result today where the company posted a profit after tax (PAT) of PKR 2,110mn (EPS: PKR 2.40), down by 7% YoY compared to PKR 2,280mn (EPS: PKR 2.59) during same period last year.… Continue
A public hearing was held today by the NEPRA Authority over the petition submitted by K-Electric for Fuel Charges Adjustments (FCA) for the month of September 2022. K-Electric filed a negative FCA petition for the month of September at a rate of PKR 4.622/kWh.… Continue
Zonergy Europe has announced the signing of a strategic cooperation agreement with M.I.C., a company committed to promoting business between Italy and China with an already strong foothold in the Italian market.
Following the establishment of a Milan based regional management platform at the beginning of the year, Zonergy has concentrated its efforts on setting up distribution channels for its energy storage products in Italy and other European countries.… Continue
Kot Addu Power Company Limited (KAPCO) is scheduled to announce its 1QFY23 financial result on Oct 25th, 2022. We expect, the company to post a profit after tax of PKR 2,539mn (EPS: PKR 2.88) during 1QFY23. Sales of the company are projected to dip by 41% YoY I 66% QoQ due to lower dispatches, which are expected to decline by 68% YoY | 67% QoQ to 549 GWh.… Continue
The Hub Power Company Limited (HUBC) is scheduled to announce its 1QFY23 financial result on Oct 27th, 2022. We forecast the company to post a consolidated profit after tax of PKR 9,323mn (EPS: PKR 7.19) in 1QFY23 compared to PKR 7,417mn (EPS: PKR 5.72) during 1QFY22.… Continue
The LUMS Energy Institute released its second edition of Pakistan Electricity Outlook 2022 – a report with a detailed analysis of the electric power system of Pakistan. It carries a critical review of the National Transmission & Despatch Company’s (NTDC) Indicative Generation Capacity Expansion Plan (IGCEP) for 2021.… Continue
ZONERGY EUROPE SRL successfully signed cooperation agreements with Photonaxand MAYSUN SOLAR respectively in Hungary. As the distributors of Zonergy, the two companies will jointly promote the distribution of green energies in Hungary as well as other countries in Central and Eastern Europe, sparing no effort to light each corner of the world with solar energy, the cleanest and most abundant energy in the nature.… Continue
· CPPA-G released its Energy Purchase Data for September. As expected, power generation has decreased by 8%MoM to clock in at 12,878GWh, while also decreasing by 8%YoY from the 14,022GWh recorded in Sep’21.
· Hydel and Coal posted significant declines in power generation, down 18%MoM and 33%MoM respectively.… Continue
ZONERGY EUROPE SRL and Assosolar signed a cooperation agreement in Milan, Italy. Avv. Donatella Paciello, member of City Council of Monza; Guo Jun, Executive Director and President of Zonergy Corporation; Li Jiang, General Manager of ZonergyEurope;Lin Chen, technical director of Assosolar; Zhao Zhifeng, Marketing Director of Assosolar; Zhao Feng, sales manager of Assosolar; Zhu Jianwen, president of Italian Chinese Enterprise Association; Zhao Jianfeng, president of Italian North Economic and Trade Association and other industry experts and the press attended the signing ceremony.… Continue
Power supply to Karachi was restored in a phase-wise manner following a tripping in the transmission lines of the National Grid on Thursday. It had affected multiple cities across Sindh, Balochistan and Southern Punjab. KE’s network after safely being disconnected from national grid, landed in island mode post which KE through its own generation plants started power restoration within a span of an hour and half.… Continue
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said circular debt (CD) is a great threat to the country’s economy. The government should accept the challenge of eliminating CD to ensure economic growth at a rapid pace, he said.… Continue
Sindh Engro Coal Mining Company (SECMC) has successfully achieved a major milestone of completing phase II of its mine expansion on October 10, 2022, announcing the Commercial Operations Date (COD) for the 7.6 million tons per annum (MTPA) mine expansion from the previously 3.8 million tons per annum under phase I of its plan.… Continue