The basic pitch for ‘net zero’ policies to combat climate change is this: a warming world will be devastating, but we can cut emissions down to next-to-nothing by using renewable energy technologies like wind and solar, which will keep on getting cheaper and cheaper. But the idea that we can have it all – energy that is plentiful, zero-carbon, and…
Read MoreYear: 2021
Cabinet tensions and major mismanagement: Everything to know about Engro Elengy’s dry docking drama
That is when all hell broke loose. Engro had no other choice but to tell the government that enough delays had happened and they needed to dock their ship. As a result, Sui Southern found itself in a position where they would be unable to provide gas for a couple of days, and as a result would have to pay…
Read MoreLNG terminal dry-docking to cost $40 million
The dry-docking in peak summer season will cost state-run energy companies and consumers around $40 million. In addition to the hefty price, the country is also facing an energy crisis if the Engro LNG terminal goes on dry docking after June 30, 2021. Sources said that the oil and gas companies had informed the government that consumers would be facing…
Read MoreGovt to introduce new car financing scheme under upcoming auto policy
The government is going to introduce a new car financing scheme with a lower interest rate of 5 to 6 per cent to facilitate customers who are unable to buy a car after major price hikes during the past few years. According to an official at the ministry of Industries and Production, the government is interested in facilitating the customers…
Read MoreWholesale power market: CPPA-G putting finishing touches to rules
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…
Read MoreUK announces capacity building initiatives for brick kilnS to reduce emission
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…
Read MorePakistan walks a tightrope with the IMF
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…
Read MorePakistan prosperity index reaches all-time high in March
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…
Read MoreDraft Pakistan Oil refining policy 2021 reviewed Energy sector keeps cycle of economy moving: Tarin
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…
Read MorePak power demand increased by 20pc this year
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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