Islamabad will seek debt restructuring of $3 billion against the China-Pakistan Economic Corridor (CPEC) energy projects in an effort to eliminate the need for increasing the power tariff by Rs1.50 per unit, Special Assistant to the PM on Power and Petroleum Tabish Gohar told The Express Tribune.“The country is scheduled to make Rs435 billion or nearly $3 billion principal repayments…
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Green energy provides a solution for cheaper power generation and the government now switches to a 50% hybrid system. With new advancements in renewable technologies, Pakistan is also focusing on producing low-cost electricity through renewable energy like solar and wind.Green energy solutions may help Pakistan overcome higher electricity rates that have become unaffordable for the consumers. The government has already…
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He said Pakistan could also face problems in meeting oxygen supplies in case of an aggravating situation and the government was looking at ways and means to increasing oxygen production. He said it was unfortunate that whenever Pakistan reached a stage to move towards economic turn around it had been hit by the Covid-19 for the third time and hence…
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National Command and Operations Centre (NCOC) chief Asad Umar said on Friday that the federal government is set to import 6,000 tonnes of oxygen, 5,000 cylinders and 20 cryogenic tanks in a bid to build Pakistan’s capacity as a third Covid-19 wave rages on in the country. This was decided during the NCOC meeting the previous day, Umar wrote on…
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Malaysian national oil company (NOC) Petronas is adding three new liquefied natural gas (LNG) tankers to its global fleet. The ships will primarily be used to ship LNG from Canada. Petronas said yesterday that it has signed a Time Charter Party (TCP) for three newbuild 174,000 cubic metres LNG vessels with shipowner, Hyundai LNG Shipping (HLS). The deal with HLS…
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All around the globe today, there are over 4.6 billion people who use the Internet,1 and in the past 12 months alone, the total number of Internet users around the world rose by 319 million. This shows that an average of 875,000 new users is added each day. These staggering statistics point to the simple fact that the Internet is speedily…
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Pakistan’s performance in critical Sustainable Development Goals (SDGs) sectors including education, water and sanitation lags that of its emerging market peers and achieving its SDGs by 2030 would require nine percent of the GDP in additional financing each year, says the International Monetary Fund (IMF). The IMF in its latest report, “A Post-Pandemic Assessment of the Sustainable Development Goals” stated…
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As many as 14 Alternative Renewable Energy (ARE) projects with accumulative capacity of 670 MW would start commercial operation by December. Official sources told APP here on Thursday that these projects included mostly wind and solar based power projects. Sharing the details, they said that 50 MW each Lakeside Energy Pvt Ltd (Jhampir), Artistic Wind Power Pvt Ltd, Liberty Wind…
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This is a dire warning that the economic recovery from the Covid crisis is currently anything but sustainable for our climate… Unless governments around the world move rapidly to start cutting emissions, we are likely to face an even worse situation in 2022.’ – Fatih Birol, Executive Director, International Energy Agency (IEA) The world saw widespread lockdowns in 2020 due…
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KARACHI: Pakistan State Oil (PSO) net profit increased to Rs8.720 billion during the quarter ended March 31, 2021, translating into earnings per share (EPS) of Rs18.57, a bourse filing said on Thursday. The company had posted a loss of Rs3.426 billion with loss per share of Rs7.30 during the same quarter last fiscal. There was no announcement of cash back.…
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