Power generation soared by a record 30% to 8,965 gigawatt hours (GWh) in March partly due to industries shifting from own power generators to the national grid in the wake of growing domestic gas crisis. Simultaneously, the cost of fuel component in the overall electricity production climbed almost 14% to Rs5.55 per unit due to power producers’ increased reliance on…
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WASHINGTON: Pakistan assured the international community on Thursday that it would shift to 60 per cent clean energy and 30pc electric vehicle use by 2030. Addressing the US-initiated Leaders Summit in Washington, Special Assistant to the Prime Minister on Climate Change Malik Amin Aslam also urged developed nations to fulfil their commitment to help others make this transition from carbon-based…
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ISLAMABAD: Special Assistant to the Prime Minister on Climate Change Amin Aslam on Thursday asserted that 60 percent of all energy produced in Pakistan will be clean or renewable by 2030 while 30 percent of all vehicles would be transferred to electricity. “The world has to do more, and fast-track efforts to confront the climate change,” Prime Minister Imran Khan’s…
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Pakistan is bearing an annual loss of Rs240 billion due to the smuggling of Petroleum products, according to the Petroleum Commission’s report which was made public on Tuesday after the federal cabinet’s approval. Petroleum products, especially motor spirit (MS) and high speed diesel (HSD), are smuggled into Pakistan from the western border of Taftan, Iran. The tax department during the…
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While the situation at external front has been improving, the foreign direct investment climate is dreary as usual. Where COIVD-19 pandemic has adversely affected FDI flows across the globe including Pakistan, the situation at home has been worrisome much before the pandemic hit. The continuous decline in FDI since after FY17 is the evidence. Central bank’s latest data shows that…
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By 31 March 2021, new power generation projects under construction stood at 463 gigawatts (GW) across the region’s 16 key power markets, up 5% from the previous quarter, reported IHS Markit. “With countries aiming to further reduce their carbon emissions, it is not surprising that the share of renewables in planned power projects increased in the last quarter,” said Xizhou…
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The honest power consumers are likely to pay an additional Rs1.1 trillion to the powerful independent power plants (IPPs) including idle generation companies on account of rising capacity payments. The capacity payments have continued to increase and are expected to touch a high of Rs1.6 trillion in 2023. During the tenure of Pakistan Tehreek-e-Insaf (PTI) government, the capacity payments have…
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ISLAMABAD: Federal Minister for Energy Muhammad Hammad Azhar on Wednesday took detailed briefing on matters relating to Power Sector. The Federal Minister was apprised on the current stock of circular debt which stood at Rs. 2300 billion approximately. Power Division has devised monthly circular debt reporting which also indicated different factors contributing in its build up, said a press release.…
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ISLAMABAD: Chairman National Electronic Power Regulatory Authority (NEPRA) along with member NEPRA Balochistan on Wednesday called on Chairman Senate Muhammad Sadiq Sanjarani here at Parliament House to brief him on power supply in the province. While exchanging views on the overall energy situation in the province the Chairman Senate said that the power system in Balochistan should be improved further.…
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WASHINGTON: US President Joe Biden will host a global climate summit on Thursday and Friday, during which he is expected to unveil a plan to cut carbon emissions by at least 50 percent by 2030, from 2005 levels. “We expect action at this meeting. We’re looking for people to make announcements to raise their ambition to indicate next steps that…
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