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Day: June 23, 2021

Wholesale power market: CPPA-G putting finishing touches to rules

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The Central Power Purchasing Agency-Guaranteed (CPPA-G) is giving final touches to rules for the establishment of a wholesale electricity market and proposed legislative changes in the current electricity mechanism, scheduled to be effective from April, 2022, well-informed sources told Business Recorder. The Economic Coordination Committee (ECC) of the Cabinet in its decision of April 30, 2015 mandated CPPA-G to prepare…

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UK announces capacity building initiatives for brick kilnS to reduce emission

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The United Kingdom has announced support to capacity building initiatives for the brick kiln sector in Pakistan to reduce emission for improving air quality and reducing smog. These views were expressed by Christian Turner, British High Commissioner to Pakistan in a press statement issued in connection with launching of UK support to the brick kiln sector to reduce emission. “The…

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Pakistan walks a tightrope with the IMF

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The International Monetary Fund (IMF) has postponed sixth review of its $6 billion bailout programme for Pakistan. The review talks did not make headway and therefore now the assessment will take place in September. That might not appear strange at a first glance. Pakistan has already had its previous reviews done together in March because of the exceptional situation created…

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Pakistan prosperity index reaches all-time high in March

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Despite declining purchasing power and fall in large scale manufacturing (LSM) output, Pakistan prosperity index registered an increase in March on the back of improvements in trade volume and private sector lending, said a public policy think tank. Policy Research Institute of Market Economy (PRIME), in a monthly review of the country’s macroeconomy, said Pakistan prosperity index (PPI) increased in…

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Draft Pakistan Oil refining policy 2021 reviewed Energy sector keeps cycle of economy moving: Tarin

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Federal Minister for Finance and Revenue Shaukt Tarin, Tuesday, said that energy sector was indeed very crucial to keep the cycle of economy moving with ever growing momentum. Oil refineries in Pakistan have been pillar of energy security of the country and now the government wants the domestic oil refineries to upgrade themselves at par with international standards. Chairing a…

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Pak power demand increased by 20pc this year

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Pakistan’s electricity demand has soared to 20 percent of which the industrial demand alone has increased by 12-13 percent, which may lead to high economic growth. The Federal Minister for Energy Muhammad Hammad Azhar said this during a meeting with the U.S. Embassy’s Chargé d’ Affaires, a.i. Lesslie Viguerie here on Monday. Secretary Power Division Ali Raza Bhutta, Daniel Froats,…

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Preparatory work of 300MW Balakot hydropower project completed

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Engineering feasibility study and the environmental impact assessment of 300-megawatt Balakot hydropower development project have been completed to get the project into the next phase of construction, The News learnt on Tuesday. Hagler Bailly Pakistan and a Portuguese engineering consultancy AQUALOGUS in association with Zeeruk International Pvt. (Pakistan) carried out the preparatory works of the project located on the Kunhar…

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