The Cabinet has vetoed a long-debated proposal of the Ministry of Water and Power regarding import of 1000 MW electricity from Central Asia -South Asia (CASA) until the projects tariff, economic feasibility and other issues are resolved, sources close to the Ministrys Additional Secretary, Zarar Aslam, told Business Recorder.

Federal Minister for Water and Power, Raja Pervez Ashraf has said that the government would facilitate and provide investor friendly environment to the Chinese companies in Pakistan. He said that the Chinese interest to invest in the hydel and wind power generation projects would help meet countrys future power requirements at affordable prices.

Pakistan has urged Iraqi oil and gas exploration companies to enter into joint ventures with Pakistan Petroleum Limited (PPL) and the Oil and Gas Development Company Limited (OGDCL) to explore oil and gas reserves in this country.

New petroleum policy would help bring positive changes in the energy sector, enabling the country to meet the growing demand of oil and gas by achieving autarky in this sector, renowned expert on energy, Dr Gulfaraz Ahmed said on Thursday.

National Electric Power Authority (Nepra) has announced simplification of license procedures and a major cut in the license fee for small scale renewable energy projects. Private investors intending to set up renewable energy projects with power generation capacity of 500KW would now be required to pay Rs 24,000 while applying for generation licence.

The government of NWFP is likely to sell the 18-mega watt electricity of the under construction Pehur Hydro Power Project (PHPP), District Swabi to private sector, sources told Business Recorder on Wednesday. The matter had been discussed in a meeting of Provincial Committee on Investment (PCOI), headed by the Chief Minister NWFP.

The Karachi Electric Supply Company (KESC) has failed to improve the power situation in the metropolis since its privatisation. To meet the immediate need of power for Karachi the company should install "barge mounted power plants", which can be secured and inducted in the grid system without any serious difficulty.

The government will give 10 percent deemed duty to the oil refineries, placing upper cap at 80 dollars and lower cap of 50 dollars per barrel of crude oil in revised formula to upgrade the petroleum products meeting international standards. Advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Hussain confirmed during a press conference here on Thursday.

The private sector companies of Britain are considering to invest in high potential power generation sector in Pakistan to help overcome countrys energy crisis, British High Commissioner in Islamabad, Robert Brinkley said on Friday.

Pakistan and Germany on Friday discussed the possibilities of funding eight ongoing and new hydropower projects worth billions of dollars, official sources told Business Recorder on Friday. These projects came under consideration at a meeting between visiting German Minister for Economic Co-operation and Development Heidemaire Wiegoreak Zeul and Prime Ministers Advisor on Finance Shaukat Tarin.