ISLAMABAD: The State Bank of Pakistan (SBP) has received requests for Rs610.2 billion until Jan 7 under the Temporary Economic Refinance Facility (TERF) for setting up of new industrial units in order to support sustainable economic growth. Of the requested amount, the approved financing has reached Rs293.5bn under TERF during the end-April to June 7, 2021 period, Commerce Adviser Razak…
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K-Electric’s flagship 900 MW power plant, BQPS-III is progressing on fast track and the Gas Turbine, Generator and Heat Recovery Boiler for the first unit of 450 MW have arrived at the power utility’s Bin Qasim Power Complex. Steam Turbine and Transformers for the first unit are on the way to the site. All relevant civil works are progressing swiftly…
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Foreign Minister Shah Mehmood Qureshi on Thursday announced that China has promised to provide 500,000 doses of a coronavirus vaccine to Pakistan by January 31. In a video message after a phone call with his Chinese counterpart Wang Yi, Qureshi said China offered Islamabad to send an airplane and airlift the vaccines. The minister said he held a detailed conversation…
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The Oil and Gas Regulatory Authority (OGRA) has announced the resumption of issuing CNG licences 12 years after the Authority first slapped a ban on the practice, reported 24NewsHD TV channel. The Ogra got published advertisements in the newspapers asking citizens to apply for CNG licences to be run on RNLG.
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KARACHI: K-Electric’s flagship 900-MW power plant, BQPS-III is progressing on fast track and the gas turbine, generator and heat recovery boiler for the first unit of 450-MW has arrived at the power utility’s Bin Qasim Power Complex, said KE’s CEO Moonis Alvi here at a press briefing. Steam Turbine and Transformers for the first unit are on the way to…
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ISLAMABAD: The state-owned electric generation companies (GENCOs) have defaulted on payment of Pakistan State Oil (PSO) by Rs131.581 billion with Sui Northern Gas Pipelines Limited (SNGPL) also failing to clear the LNG payments of Rs107.093 billion. Pakistan International Airlines (PIA) is not behind in the race as it has so far defaulted on payment of Rs20.802 billion, unfolds the financial…
Read MoreISLAMABAD: The government is currently in a fix on LNG bids it received for the month of March and is making its mind either to stick with the bids which are at higher side or go for retendering as the LNG availability in the international market has started improving. The LNG value has tumbled by $2 per MMBTU in recent…
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ISLAMABAD: The government on Wednesday said it would publish the inquiry report on the recent countrywide power breakdown within a few days, insisting that no favour had been given to independent power producers (IPPs) in recent negotiations. “No NRO has been given to the IPPs; it’s all a misconception. We have to look into ways to rationalise the pacts signed…
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Industrialists have expressed grave concern over the decision taken by the government to cut gas supply to all industrial units from February 2021, terming it a counterproductive move. In a statement, North Karachi Association of Trade and Industry (NKATI) President Faisal Moiz Khan, while opposing the decision taken by the Power Division, urged the federal government and Minister for Planning,…
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LAHORE: Pakistan has the potential to produce approximately 150,000MW of energy from wind energy sources, said Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President SM Naveed. Speaking at a think tank session, he said that wind projects could fetch investment of around $2 billion. “Government should opt for short-term energy projects to curb the prevailing energy crisis that has crippled the national…
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