Latest news with #Quaid-e-AzamThermalPowerPrivateLimited
Business Recorder
a day ago
- Business
- Business Recorder
Punjab power relief funded by profits of two power companies
LAHORE: After the reduction in electricity tariffs of two power companies - Quaid-e-Azam Thermal Power Private Limited and the Punjab Thermal Power Private Limited - there will be cut in power tariff for the consumers but its impact would not be too significant, it has been learnt. 'There will be definitely reduction in power tariff of electricity consumers in Punjab and the relief will be financed with profits earned by said two government-owned power companies,' sources in the energy department said, adding: 'In light of the Punjab cabinet decision, the provincial government would approach Nepra for a reduction in power tariffs for these two plants so that these price reductions get permanence and are reflected in the new tariff.' It may be noted that the Punjab government had established a special purpose vehicle company by the name of Quaid-e-Azam Thermal Power (Pvt) Limited (QATPL) in March 2015 under section 32 of the Companies Ordinance 1984 in Independent Power Producer (IPP) mode with the mandate to build, own and operate a 1180 MW RLNG based power plant at Bhikki, Shiekhupura on fast track. Punjab CM announces up to 40pc relief in power tariffs The Punjab Thermal Power (Private) Limited (PTPL) is a private limited company incorporated under the Companies Act, 2017. It is wholly owned by the government of Punjab through the energy department. The main objective of the company is to establish and operate a 1263 MW thermal power plant based on RLNG at Haveli Bahadur Shah near Trimmu Barrage, District Jhang in Punjab. It may be recalled that the provincial cabinet in its meeting had given nod to cut the power tariffs of these two plants by 30-40 per cent to reduce electricity bills. This move is similar to the federal government's which recently renegotiated contracts with independent power plants (IPPs) to reduce tariffs, the sources added. 'Both the companies had curtailed its profits as well as reduced non-developmental expenditures to materialize this move.' Copyright Business Recorder, 2025
Business Recorder
4 days ago
- Business
- Business Recorder
Punjab CM announces up to 40pc relief in power tariffs
LAHORE: Punjab Cabinet, which met here Tuesday with the Chief Minister Maryam Nawaz Sharif in the chair, accorded approval for reduction in tariffs of Quaid-e-Azam Thermal Power Private Limited and Punjab Thermal Power Private Limited. The Chief Minister also announced to reduce power tariffs in order to reduce electricity bills so as to provide maximum relief to the people. The Chief Minister approved to reduce the tariffs of Punjab's power companies. On the direction of Chief Minister, the tariffs may be reduced by 30 to 40 percent. Punjab became the first province to voluntarily reduce electricity tariffs. The Chief Minister said that people repose their complete trust in the leadership and government of PML-N. The provincial cabinet extended congratulations to the CM on party's win in the by-election at Sambrial. It was apprised that the victory gained with a huge majority in 80 percent rural provincial constituencies is a manifestation of farmers' complete confidence in the policies of Chief Minister Punjab. A large number of youth and women cast their votes in the Sambrial by-election. The Chief Minister appreciated the efforts of Provincial Minister Zeeshan Rafique and Special Assistant Zeeshan Malik. Minister Zeeshan Rafique informed the cabinet that the people voted in large numbers due to public welfare initiatives and projects of Chief Minister Punjab. Special Assistant Zeeshan Malik said that people came out of their homes in a large number and voted for PML-N. The Chief Minister congratulated the Minister for Health, Minister for Communications and relevant secretaries for ensuring improvements in the conditions of hospital and roads in Layyah. She directed to take necessary steps for the establishment of a medical college in Layyah. The cabinet approved a grant-in-aid of Rs 400 million to the Punjab Journalist Housing Foundation. The PJHF will pay RUDA for the land of Lahore Press Club Housing Scheme Phase II. The CM said that a huge package is going to be given to the wheat farmers. It was informed in the meeting that the payment of Rs 5,000 per acre subsidy has been completed to 514,000 wheat farmers in Punjab. The payment will be made after the verification process of another 500,000 wheat farmers is completed. An amount of Rs. 63 billion was provided in the second phase through Kisan Card and farmers have purchased fertilizer worth Rs 18 billion. The cabinet approved the Chief Minister Wheat Program 2025. The establishment of Punjab's first 'Air Punjab Private Limited Company' was also approved. The CM set a target of starting 'Air Punjab' within one year. She directed to take immediate steps for closing vaping centres in the province. She directed to ensure 'safety gear' for labourers and workers and assigned the Labour Department a target of implementing safety SOPs for workers within a month. The provincial cabinet approved ration cards for workers and miners registered with the Labour Department. The meeting also approved the provision of electric buses in nine divisions of Punjab. The CM directed to establish charging stations in all major cities as soon as possible. The meeting approved the Punjab Autism School and Resource Centre Lahore Act 2025. The CM directed to admit all sick children to the autism centre without any discrimination. The cabinet approved the transfer of land to establish Pakistan's first Nawaz Sharif Medical District in Lahore. The medical District will have blood diseases, bone marrow and all other specialized centers on a five thousand kanals of land. Parks, hotels, food court, play area and urban forest will be established in the Nawaz Sharif Medical District. A globally renowned institution has contacted for the establishment of a children hospital in the Nawaz Sharif Medical District. The Chief Minister set a target of providing essential facilities in all schools across Punjab. Classrooms, toilet blocks, furniture and laboratories will be built in every school worth Rs. 40 billion. The provincial cabinet approved the provision of 1100 interest-free electric taxis in Lahore. The meeting approved Punjab's first child protection policy to determine the responsibilities of institutions to ensure the safety of children. Special grant-in-aid was approved for the heirs of those killed in the attack in the Attock District Courts. Eco-tourism projects were approved in Changa Manga Wildlife, Lal Sohanra National Park. The cabinet approved the construction, repair and upgradation of bus shelters in Lahore. Approval was also given to build depots for electric buses at Thokar Niaz Baig and Railway Station. The meeting approved an Rs 100 billion Chief Minister Punjab Special Financing Facility to assist flour mills and food grains license holders. The implementation of the Electronic Warehouse Reset System (EWR) was approved to facilitate farmers. The cabinet approved the presentation of the annual report of the Punjab Technical Education and Vocational Training Authority (P-TEVTA) for 2022-23 in the Punjab Assembly. The proposal to delegate the powers of sub-registrars to Tehsildars and Naib Tehsildars was also approved. The formation of agencies to be established under the Punjab Road Safety Authority Act 2023 was approved. The cabinet approved the Measurement Book in the Public Works Department. The Punjab Senior Citizens Welfare Bill 2025 was also approved. Amendments to the Punjab Motor Vehicle Rules 1969 were approved for the provision of reflective number plates. Approval for issuance of Personalized Vanity Plates (PVP) in Punjab/ Reserve Price and Transfer Fee was approved. The provincial cabinet approved the registration of electric vehicles in Punjab. Reward system for officers/ officials and informers of the Excise Taxation and Narcotics Department was approved. Amendments to the Punjab Price Control of Essential Commodities Act, 2024 were approved. The meeting approved the Mines and Minerals Act, 2025, to harmonize the regulatory framework of the mineral resources sector. A service level agreement for technical assistance between the Punjab Information Technology Board and the Higher Education Department was approved. The Punjab Primary and Secondary Healthcare Services Bill, 2025 was approved. The dissolution of the Board of Management of the Punjab Institute of Mental Health, Lahore and the formation of an Administration Committee under the Punjab Medical and Health Institutions Act, 2003 were approved. Copyright Business Recorder, 2025
