Power generation up 2.0 percent in five months

KARACHI: Power generation during 5MFY21 (July-November 2020) inched up 2.0 percent to 60,077 GWh, regulator data suggests. The highest growth of 22.3 percent was seen in Furnace Oil (FO) based generation, while hydel power witnessed the biggest jump of 1,134 GWh in absolute terms, followed by RLNG-based generation which increased… Continue reading

Tax rate on dividend paid by power generation companies doubled to 15%

KARACHI: The rate of tax on dividend distributed by power generation companies is proposed to be enhanced to 15 percent from existing 7.5 percent, suggests Finance Bill 2019. Applicable tax rate including collection of advance tax on dividend distributed by purchaser of power project privatized by WAPDA or on shares… Continue reading

K-Electric joins hand with Bahria Town to develop LNG, coal power plants in Karachi

KARACHI: K-Electric Limited and Bahria Town have signed a memorandum of understanding (MoU) to collaborate in setting-up an LNG based power generation project and a coal-fired power project with a cumulative capacity of 530 MW in Karachi. K-Electric has also agreed, through a separate agreement signed with Bahria Town, to… Continue reading