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K-Electric surrenders principle of reciprocity, int'l arbitration


Top Story
February 5, 2021
ISLAMABAD: In a goodwill gesture, the top management of K. Electric has withdrawn its main conditions of Principle of Reciprocity and arbitration through London Court from its draft terms of reference (ToRs) to resolve once for all the decade old disputes over receivables and payables between the K.E and the government entities. The shareholders of K. Electric from Kuwait, Dubai and Saudi Arabia have also given the nod to the top management to remove the clause of Principle of Reciprocity and agree to the local arbitration mainly on the demand of the government paving the way to resolve the historic dispute over receivables and payables, a senior official at Ministry of Energy confirmed to The News. ....

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Pakistan inaugurates 113 kilometre electricity transmission lines


Pakistan inaugurates 113 kilometre electricity transmission lines
Business
January 28, 2021
ISLAMABAD: Pakistan and Islamic Development Bank on Wednesday inaugurated 113 kilometre power transmission lines on its border along Afghanistan as the country aims to complete its side of the $1.2 billion mega CASA-1000 project.
Minister for Energy Omar Ayub and Islamic Development Bank President Bandar Hajjar inaugurated the construction of the electricity transmission lines from Pakistan-Afghan border to Nowshera under the South Asia Central Asia Regional Trade and Transmission Project (CASA-1000) in a virtual event. The CASA-1000 project is a 1,270 kilometres power transmission line that exports surplus hydropower generated in Kyrgyzstan and Tajikistan to Pakistan through Afghanistan. Transmission components under the project are financed by Islamic Development Bank, World Bank, European Investment Bank, European Bank for Reconstruction and Development, UK’s Depar ....

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