Latest news with #AhmedIbrahim
Express Tribune
30-06-2025
- Business
- Express Tribune
NEPRA grills Power Division over FCA deferral
The National Electric Power Regulatory Authority (NEPRA) held a heated hearing on the Power Division's request to defer April 2025's Fuel Cost Adjustment (FCA) of Rs4.69 per unit for K-Electric (KE) consumers. The proposal drew sharp criticism from NEPRA members and Karachi's power consumers, who questioned both its legality and timing. NEPRA Member Legal Amina Ahmed criticised the Power Division's abrupt change of stance, noting that the reference price of Rs15.99 had remained unchanged for two years. She argued there was no legal or practical basis for the deferral and called out the ministry for its delayed response. When asked about policy guidelines and cabinet approval, the ministry's representative gave a 10 to 15-day timeline. KE's representative informed the regulator that Rs7.173 billion in relief was due to be passed on to consumers, noting that the utility had offered negative FCA adjustments since September 2024. The Power Division argued that deferring the FCA was necessary to safeguard the federal budget, warning that immediate implementation could place further fiscal strain on public finances. NEPRA, however, dismissed the plea, stating that it lacked legal merit and procedural basis. NEPRA Senior Legal Advisor Ahmed Ibrahim asserted that NEPRA held exclusive jurisdiction over tariff matters. He said no court order existed to halt the process and that the ministry's petition was premature. Without a stay order, NEPRA's earlier determination remains binding. He further clarified that the Ministry of Energy's administrative role did not entitle it to interfere in regulatory decisions. NEPRA chairman echoed these sentiments, noting the hearing had been scheduled in advance and the deferral request came too late. He questioned why the legal process hadn't been followed earlier. KE CEO Moonis Alvi said KE would comply with NEPRA's decision but urged that fairness be considered. He added that industrialists planning production and exports faced uncertainty due to the ambiguity. Karachi-based industrialist Rehan Javed said the Power Division never objected when positive FCA adjustments led to higher tariffs for Karachi. He called the sudden concern selective and biased, pointing out that Karachi consumers also paid the PHL surcharge despite not contributing to the circular debt. He reminded NEPRA of International Monetary Fund (IMF) demands for timely tariff adjustments and greater efficiency. Javed stressed that any subsidy settlements between the government and KE were unrelated to the current FCA issue and demanded NEPRA act independently. He added that while Karachi stood to gain this time, it had often borne the brunt of losses in the past. Participant Arif Bilvani voiced frustration over the Power Division's belated intervention. He argued that Karachi consumers deserved the relief now, just as they had borne excessive charges earlier. KCCI representative Tanveer Barry called the Power Division's objections "unfair," highlighting that Karachi was being penalised despite not contributing to the circular debt. The session concluded with NEPRA reaffirming that decisions must be made transparently and free from ministry pressure. A final ruling is awaited and is expected to have wide implications for Karachi's power consumers. DISCOs tariff may rise Rs1/unit Separately, NEPRA also held a hearing on the May 2025 FCA request for DISCOs, in which the Central Power Purchasing Agency (CPPA-G) warned that power tariffs could rise by up to Rs1 per unit from July 1 due to increased gas prices for power generation. CPPA-G initially sought a 10 paisa per unit increase for May, which NEPRA said it would consider after reviewing the data. According to CPPA-G, the 10 paisa hikeif approvedwould be applicable for one month only and add Rs1.25 billion to consumer bills. The reference fuel cost for May was Rs7.39/unit, compared to Rs7.49/unit in April. CPPA officials warned that higher gas prices would likely push tariffs up by Rs1 per unit. They also cautioned that without improved bill recoveries, the government may resort to raising surcharges to manage the ballooning circular debt. Currently, consumers are paying a Rs3.23 per unit surcharge solely for interest payments on circular debt. This amounts to Rs323 billion annually. According to CPPA-G data, actual fuel cost for May was Rs7.4940 per kWh, while the reference cost was Rs7.3925an increase of Rs0.1015/unit.
Daily News Egypt
26-05-2025
- Entertainment
- Daily News Egypt
New Alamein City to host Egypt International Sculpture Symposium, 'ART SPACE'
New Alamein City is preparing to host two international art events in 2025: the first Alamein edition of the Egypt International Sculpture Symposium from 6 to 30 August, and the second edition of 'ART SPACE' for the arts from 19 July to 30 September. According to a statement from the Ministry of Housing, Utilities, and Urban Communities, these events are intended to underscore the city's growing status as an international destination for creativity. The sculpture symposium will be its first iteration in Alamein and the tenth to be held in Egypt overall. The symposium will feature a selection of prominent international sculptors. The event aims to offer attendees the experience of observing live creative processes, as blocks of stone and recycled materials are transformed into artworks on the Mediterranean coast. Ahmed Ibrahim, Head of the New Alamein City Authority, stated, 'We are pleased to host the Egypt International Sculpture Symposium in New Alamein City, and we affirm our commitment to providing all facilities to ensure the success of this important artistic event, reflecting the city's status as a leading platform for art and culture.' He added, 'The events are open to the public, and we invite everyone to discover New Alamein City as an integrated destination that combines art, tourism, and a modern civilised character.' Mohamed Hamida, an artist and the general organiser of the symposium, expressed his deep gratitude to the Ministry of Housing, Utilities, and the New Urban Communities Authority, appreciating the support of Ahmed Ibrahim. Hamida further elaborated, 'Thirty leading international sculptors specialising in stone sculpture and the recycling of waste and metals will participate in the symposium. The artists have shown enthusiasm for visiting Egypt, and their works will be gifted to the city authority to adorn its streets and squares, in a step that enhances the visual identity of New Alamein.' The symposium's programme will include sculpture workshops, a contemporary art exhibition, an 'art dinner' event at the closing ceremony, and a comprehensive tourist programme for the participating artists. This programme will feature visits to prominent landmarks in Alamein, Alexandria, the Pyramids, and the Grand Egyptian Museum, aiming to reflect the depth of the cultural experience Egypt offers. Separately, the 'ART SPACE – Second Edition' events will run from 19 July to 30 September 2025. This will feature art exhibitions, visual installations, and live interactive workshops, designed to allow the public to engage directly with contemporary arts in an energetic and creative summer atmosphere.
El Fagr
20-05-2025
- Business
- El Fagr
Tanmeyah Wins 'Excellence in Customer Relationship Management' Award at MENA Banking Excellence Awards
Tanmeyah، a subsidiary of EFG Holding، and a leading provider of innovative and integrated financial solutions for small business owners and entrepreneurs، received the 'Excellence in Customer Relationship Management' award at the MENA Banking Excellence Awards. This recognition celebrates the company's client-centric approach and continued commitment to financial inclusion across Egypt. The recognition reflects Tanmeyah's continued efforts to place client needs at the center of its operations with dedicated Relationship Officers assigned to every client to provide direct support and guidance. This model ensures that clients، many from underserved and rural areas، not only access financing، but also build financial awareness and resilience. With a presence in 354 branches across Egypt، in addition to a mobile app، digital assistant 'Abu ElSebaa'، and a dedicated call center، Tanmeyah has built a system that combines accessibility with responsiveness. Each channel is designed to offer timely، relevant، and empathetic support. Ahmed Ibrahim، Executive Director، Head of Business at Tanmeyah، commented، 'This recognition reflects the trust of nearly 3 million clients and the dedication of our teams who serve over 50،000 new clients monthly. Through our expanding network and digital platforms، we remain committed to listening closely، responding purposefully، and delivering solutions that matter. Personalized service، agility، and empathy are more important than ever — and they guide every step we take.' Waleed Rammah، Executive Director، COO at Tanmeyah، added، 'We are committed to educating our clients about financial tools such as insurance، with the aim of protecting their income sources and ensuring long-term financial stability. Our field teams work to raise awareness step by step، through every interaction we make.' The award highlights Tanmeyah's ability to scale personalized support to millions of clients — and its role in expanding financial inclusion through a service model built on trust، education، and accessibility.
bnok24
20-05-2025
- Business
- bnok24
Tanmeyah Wins 'Excellence in Customer Relationship Management' Award at MENA Banking Excellence Awards
Tanmeyah, a subsidiary of EFG Holding, and a leading provider of innovative and integrated financial solutions for small business owners and entrepreneurs, received the 'Excellence in Customer Relationship Management' award at the MENA Banking Excellence Awards. This recognition celebrates the company's client-centric approach and continued commitment to financial inclusion across Egypt The recognition reflects Tanmeyah's continued efforts to place client needs at the center of its operations with dedicated Relationship Officers assigned to every client to provide direct support and guidance. This model ensures that clients, many from underserved and rural areas, not only access financing, but also build financial awareness and resilience With a presence in 354 branches across Egypt, in addition to a mobile app, digital assistant 'Abu ElSebaa', and a dedicated call center, Tanmeyah has built a system that combines accessibility with responsiveness. Each channel is designed to offer timely, relevant, and empathetic support Ahmed Ibrahim, Executive Director, Head of Business at Tanmeyah, commented, 'This recognition reflects the trust of nearly 3 million clients and the dedication of our teams who serve over 50,000 new clients monthly. Through our expanding network and digital platforms, we remain committed to listening closely, responding purposefully, and delivering solutions that matter. Personalized service, agility, and empathy are more important than ever — and they guide every step we take Waleed Rammah, Executive Director, COO at Tanmeyah, added, 'We are committed to educating our clients about financial tools such as insurance, with the aim of protecting their income sources and ensuring long-term financial stability. Our field teams work to raise awareness step by step, through every interaction we make The award highlights Tanmeyah's ability to scale personalized support to millions of clients — and its role in expanding financial inclusion through a service model built on trust, education, and accessibility Google News تابعونا على تابعونا على تطبيق نبض
Zawya
22-04-2025
- Business
- Zawya
Ghana's Local Government Minister Joins Mining in Motion Summit
Hon. Ahmed Ibrahim, Minister of Local Government, Decentralization and Rural Development of Ghana, has joined the upcoming Mining in Motion 2025 Summit, taking place from 2-4 June in Accra, as a speaker. Minister Ibrahim's participation underscores the vital role of gold mining in fostering job creation, empowering local communities and advancing economic development through strengthened local content policies and projects. Ghana's artisanal and small-scale mining (ASM) sector directly employs over one million people and indirectly supports an additional 4.5 million individuals across the mining value chain and related industries. In 2024, the sector generated $5 billion in gold export revenue, contributing to household incomes and community development nationwide. Ghana's Ministry of Local Government, Decentralization and Rural Development plays a pivotal role in this progress, through strategic programs that integrate rural development with sustainable mining practices. Through the Landscape Restoration and Small-Scale Mining Project – implemented in partnership with the World Bank – Ghana is formalizing its ASM operations, driving community engagement and promoting environmental stewardship. In 2025, Minister Ibrahim is prioritizing the District Roads Improvement Program, an ambitious infrastructure plan aimed at modernizing rural road networks. Given that the majority of gold mining activities are located in remote districts, improved transport access will support mining growth by facilitating the efficient movement of goods, services and personnel. At the Mining in Motion 2025 Summit, Minister Ibrahim will engage in high-level panel discussions and exclusive networking sessions, where he will outline the Ministry's strategy for enhancing the mining sector's contribution to community and national development. The summit offers an ideal platform for both public and private sector stakeholders to engage with the Ministry, explore investment opportunities and forge new partnerships, all while aligning on initiatives that deliver value to Ghanaian communities. Mining in Motion 2025 is spearheaded by the Ashanti Green Initiative, under the leadership of Oheneba Kwaku Duah, Prince of Ghana's Ashanti Kingdom, and is hosted in partnership with the World Bank and the World Gold Council. Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting small-scale miners and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 summit by visiting sponsorship opportunities or delegate participation, contact sales@ Distributed by APO Group on behalf of Energy Capital&Power.
