ISLAMABAD: The government on Thursday set up an implementation committee to convert legally non-binding understandings with 47 independent power producers into legal agreements to secure an estimated amount of Rs836 billion in savings over the next 28 years. After a formal revision in power purchase agreements, the federal government would save an average of Rs30 billion a year during this…
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The country’s Ministry of Electricity and Energy allocated all tendered solar capacity in its first procurement exercise for large-scale PV. Final prices ranged from $0.0348 to $0.051 per kWh. China Machinery Engineering and Sungrow were the main winners, securing eight and nine projects, respectively. Myanmar’s Ministry of Electricity and Energy (MOEE) has concluded a 1 GW PV tender it launched in May…
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KARACHI: Pakistan’s hub of economic activities, Karachi, continued to face prolonged power outages on Wednesday that badly crippled industrial output at a time when the economy is poised to recover from the historic Covid-19 depression. K-Electric, the sole power production, transmission and distribution firm responsible to supply power across the city of ports and other parts of Sindh and Balochistan,…
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The federal government has waived the guarantee fee on the Chinese loans being taken to construct two nuclear power plants in Karachi and also sought a report on the total outstanding employee-related liabilities of the Pakistan Steel Mills (PSM). The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved to write off 0.5% guarantee fee on the foreign loans…
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A mine will always impact the environment, but the question is to what degree? The responsible management of natural resources and ecosystems such as soils, plants, animals, water and air, and the services they provide, is central to the efforts of any society seeking to become more sustainable. The Intergovernmental Forum on Mining “IGF” has identified four issues that governments could effectively…
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India used the ultra-low crude oil prices earlier this year to top its strategic petroleum reserves with oil at $19 a barrel, saving nearly US$700 million in the process, India’s Ministry of Petroleum and Natural Gas said on Monday. “Taking advantage of the low crude oil prices in international market, India purchased 16.71 million barrels (mbbl) of crude in April…
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The signing of the contract and the Prime Minister’s visit to the site, is of great satisfaction to me since I have been struggling for hydroelectric development and dams on the Indus since 1975. What is reprehensible is that its construction could have been started after 1984, when its feasibility had been prepared. There have been several impediments as well…
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For decades, Afghanistan’s untapped mineral wealth has been touted as the country’s trillion-dollar El Dorado. But while the Afghan government has never been able to monetize mountains of copper, iron ore, gold, and gemstones, the Taliban have—and are ramping up their mining operations as just-started peace talks aim to shape the future of a postwar Afghanistan. In recent years, the…
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LAHORE: Though Pakistan is operating under the principle of open market economy the consumers at large, however, always remain at the receiving end due to weak regulations and unholy cartels that thrive in such environments. The absence of state writ has given free hands to the price manipulators. Consumer exploitation by the entrenched entrepreneurs has reached a level that rates…
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The Auditor General of Pakistan (AGP) has recovered Rs5.66 billion during the first two months of the current fiscal year ending June 30, 2021. According to the data available with this scribe, the recoveries from federal government departments stood at Rs5.411 billion while that from provincial and district offices were recorded at Rs243.9 million. According to break-up figures, the highest…
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