November 2021 - Page 7 of 17 -

JV Agreement Signed to Build Pakistan’s First Manufacturing Facility to Produce Supercapacitor Energy Storage Systems

November 17, 2021May 28, 2023 Admin

A USA-based technology company and a Pakistani industrial group have entered into a formal partnership to start for the first-time manufacturing of supercapacitor energy storage systems in Pakistan to promote usage of renewable electricity. A ceremony was held here at a hotel for the signing of a joint venture (JV) agreement between Ghani Global Holdings Limited (GGL) and Kilowatt Labs…

PPL Gets Philanthropy Award

November 17, 2021April 20, 2023 Admin

Pakistan Petroleum Limited (PPL) received Corporate Philanthropy Award by Pakistan Centre for Philanthropy (PCP) for being the largest corporate giver in terms of volume of donations during 2019-20, a statement said on Tuesday. PCP adjudged the winner based on their research-based annual philanthropy survey, awarding PPL during a Corporate Philanthropy Awards event organized by PCP in Islamabad. The event was…

EPCL joins WEF Anti-Plastic Drive

November 17, 2021April 20, 2023 Admin

Engro Polymer & Chemicals (EPCL) has become the first affiliate member from Pakistan to join the World Economic Forum’s (WEF) Global Plastic Action Partnership (GPAP), as part of its sustainability efforts to promote circular economy and contribute to achieving zero plastics waste, it said on Tuesday. By leveraging the GPAP platform, EPCL will be able to forge national and international…

KE Installs ‘Black Start’ Facility

November 17, 2021April 20, 2023 Admin

K-Electric (KE) implemented a ‘Black Start’ capability for the first time in their generation fleet at the Korangi Power Complex (KPC), which is expected to generate 247 MW of electricity for Karachi and curb unexpected black outs, a statement said on Tuesday. The facility augments KE’s ability to secure power supply against unexpected large-scale outages, allowing power plants to go…

Karandaaz Okays Six Bidders for Climate Change Projects

November 17, 2021April 20, 2023 Admin

Karandaaz Pakistan, funded by UK’s Foreign, Commonwealth & Development Office (FCDO), announced its plans to fund six green transitional projects as part of its annual innovation challenge, a statement said on Tuesday. With support from FCDO, Karandaaz, this year, invited innovative projects seeking financing to implement plastic waste management and efficient water management solutions. After due diligence, Karandaaz selected Suftech…

Entrepreneurs Attempt to Ease Climate Hazards

November 17, 2021April 20, 2023 Admin

Keeping in view the threats of climate change, Pakistani entrepreneurs are taking initiatives to reduce the impact of changing weather patterns on the country. Two businessmen have come up with the idea of weather data analytics and forecasts with the help of artificial intelligence and computer algorithms to increase the accuracy of predictions to 95%. Warning of a 2.5-degree-Celsius rise…

Rs135bn Payments Boost IPPs’ Share Prices

November 17, 2021April 20, 2023 Admin

Share prices of the independent power producers (IPPs) soared on Tuesday after the government approved the disbursement of Rs135 billion as part of the tariff renegotiation process aimed at reducing the circular debt. The approval for the final tranche of payments consisting of 60 per cent of the total outstanding dues follows the disbursement of the first instalment amounting to Rs90bn to…

CNG too Becomes Costlier

November 17, 2021April 20, 2023 Admin

The price of compressed natural gas (CNG) has further gone up by Rs6.89 per litre in Punjab and Rs10.30 per kg in other provinces following an increase in sales tax by the Federal Board of Revenue (FBR), stakeholders said on Tuesday. In the first week of October, CNG price in Sindh was raised by Rs15 per kg, followed by an…

Top OMC in Economic Mess: PSO’s Receivables Surge to Rs398 Billion

November 17, 2021April 20, 2023 Admin

The receivables of the Pakistan State Oil (PSO) have gone up to a whooping figure of Rs 398 billion the highest ever in the entity’s history with a major chunk of Rs 192.539 billion from the power sector However, the Sui Northern owes Rs 161.025 billion to the PSO in the head of RLNG and the PIA is required to…

Australian LNG exports likely to be zero by 2050 as reserves dry up

November 16, 2021April 20, 2023 Admin

Australian exports of liquefied natural gas (LNG) are likely to be zero in 2050 as all the existing projects are expected to have exhausted their proved plus probable (2P) reserves by then, EnergyQuest warned in its latest report.