The National Transmission and Dispatch Company Limited (NTDC) has energized phase-I of 500 kV grid station Faisalabad West two months prior to its timeline. The efforts of NTDC for completion of this vital project supported the fulfillment of commitment of Government of Pakistan to provide the uninterrupted power supply to the consumers of FESCO during upcoming summers. Managing Director NTDC…
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Pakistan’s government is targeting a trade deficit of $30bn in the current fiscal year, with new export-centric policies focused on reducing the country’s reliance on textiles and providing incentives to other sectors, the country’s top commerce official has said. Textiles are the South Asian country’s major export, making up more than 60 percent of the country’s $25.3bn in exports last…
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The demand for petroleum oil products remained robust despite the uptrend in prices, as wheat harvesting, power generation through oil-fired plants and building of domestic reserves in anticipation of a further hike in international prices generated strong demand in January. Besides, healthy industrial activities and growing car numbers on roads also contributed to the rising momentum in sales of petroleum…
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Uganda is aiming to become a crude oil exporter as the Uganda National Oil Company solidifies plans for a large oil field and pipeline project this year. This builds upon efforts by the government to attract greater foreign investment to the oil and gas sector. In addition, the development of a 60,000 bpd refinery will boost the country’s output. However,…
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The government has hired Pricewaterhouse Coopers (PWC) for Third Party Validation of the country’s power sector as Prime Minister Imran Khan is unhappy with the performance of sector, sources close to Special Assistant to Prime Minister on Establishment, Shahzad Arbab, told this correspondent. “As per the direction of SAPM on Establishment, it has been decided that a Third Part Validation…
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Sino-Sindh Resources Ltd (SSRL) said on Monday it successfully extracted the first shovel of lignite coal at Block 1 of the Thar coalfields near Islamkot Town of Tharparkar, Sindh. Block 1 boasts lignite coal deposits of over three billion tonnes (equivalent to over 5bn barrels of crude oil) with an annual output of 7.8 million tonnes. SSRL, whose majority shareholder…
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With Islamabad vying for price cut, the energy ministers of Pakistan and Turkmenistan met on Monday for discussions on two major energy import projects, including the way forward on execution of multi-billion dollar Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project. Pakistan had already taken up with Turkmenistan the issue of gas price review and delivery point of gas under TAPI pipeline project…
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Engro Corporation CEO Ghias Khan will serve as president of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2022 term, a press release said on Monday. Unilever Pakistan CEO Amir Rasool Paracha will be vice president, it added. “Pakistan offers considerable growth potential for existing and new foreign investors,” the statement quoted Mr Khan as saying. He…
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KARACHI, LAHORE and ISLAMABAD, February 1, 2022: Demanding the government to revoke imposition of general sales tax on solar panels and electric vehicles, a civil society group striving to promote renewable energy has asked the International Monetary Fund (IMF) to play a responsible part in developing socially just and environmental friendly financing solutions in Pakistan. Alliance for Climate Justice and…
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A technology company called Our Next Energy (ONE) says it’s demonstrated a prototype battery in an electric vehicle that traveled 752 miles without recharging. The experimental battery, retrofitted into a 2021 Tesla Model S, drove across Michigan in late December at an average speed of 55 mph, ONE says. Next up is a new product called Gemini, “which will enable long distance…
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