ISLAMABAD: Pakistan’s plan to raise around $1.5 billion from the privatisation of two power plants is facing delay as only one foreign investor has submitted documents amid uncertainty caused by Prime Minister Imran Khan’s decision to skip the Kuala Lumpur Summit 2019.Foreign investors of Malaysia, China, Qatar, the United Arab Emirates and Saudi Arabia had initially shown interest in taking…
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ISLAMABAD: The Centre on Monday decided to take the provinces on board on issues of royalty on gas, distribution of water and appointment of chairman and members of the Water and Power Development Authority (Wapda). The decisions were taken at a meeting of the Council of Common Interests (CCI) presided over by Prime Minister Imran Khan. It was attended by…
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LAHORE: As hydel power generation considerably squeezed to just 1,700MW on average in the last 24 hours, the gas shortfall in Punjab and Khyber Pakhtunkhwa jumped to 400MMCFD on Monday, forcing the authorities to curtail supplies to power sector. “Though the gas supply to the CNG sector and industry has already been suspended for an indefinite period to ensure provision…
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KARACHI: Pakistan Petroleum Ltd (PPL) announced two discoveries on Monday. A notice to the PSX informed of hydrocarbon discovery in exploratory well, Bitro-I, in Latif Block located in Khairpur District, Sindh, by the Joint Venture Partners of the Latif Exploration Licence. The company holds 33.30pc working interest in the block. The second notice to the exchange related to hydrocarbon discovery…
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ISLAMABAD: Energy prices are rising consistently, so is the cost of doing business, which ultimately dents competitiveness of Pakistan. At the same time, the high prices are not enough to slash the growing circular debt in the energy chain. Though the government has taken measures to tackle the circular debt by curtailing losses of energy companies and checking power theft along…
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CAIRO: Egypt will begin importing natural gas from Israel by mid-January 2020, Israeli Energy Minister Yuval Steinitz told Israel Radio on Sunday. “(The exports) will begin in the middle of next month and perhaps even earlier,” he said. Israeli gas exports to Egypt will gradually reach 7 billion cubic metres, a senior industry source, who earlier in the day disclosed a mid-January…
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KARACHI: The closure of CNG stations for a longer duration has proved to be a great burden on the pockets of consumers as rickshaw and taxi drivers are demanding exorbitant fares while peak factor on ride-hailing services has remained a constant irritant owing to lack of public transport. The current week also saw a huge rush of people at bus…
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LAHORE: With a sudden drop in temperature across the country, the ongoing gas crisis deepened on Sunday as the total shortfall surged to 600 million metric cubic feet a day (MMCFD) that may compel the Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) to curtail the supply to sectors other than domestic consumers. The shortfall has…
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The first part of this article, published on Dec 9, highlighted how China is dominating the global production of lithium ion batteries (LIBs) and how Pakistan stands to learn from its experience. Globally, electric vehicles (EVs) have been the main drivers of investment in LIB production. LIBs constitute 40-50 per cent of the cost of an EV. Over 80pc of the future…
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