5th International Wind Energy Summit-20222Global body urges Pakistan to exempt energy sector SMEs from competitive bidding system to ensure their survivalKarachiThe World Wind Energy Association (WWEA) has urged Pakistan’s government to preferably exempt the small and medium-sized power companies from the competitive bidding system soon to be introduced in the country for new renewable energy projects.The WWEA put forward this…
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In order for the economy to emerge stronger out of its current industrialization phase, energy policies must reflect thorough planning for sustainability and effective resource management, along with a formula to reduce the trade deficit and limit borrowing in order to tackle the ballooning circular debt, writes Shahid Sattar, Executive Director & Secretary General of All Pakistan Textile Mills Association…
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The Chinese yuan reversed earlier declines and jumped toward its highs of the day following a report by Dow Jones that Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in the currency. The offshore yuan climbed as much as 0.1% to 6.3867 per dollar, close to the session peak it reached…
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The upstream oil and gas sector in Pakistan has been a constant contributor to the total foreign direct investment coming into the country. However, the share of the E&P sector in total FDI has been erratic and declining from an average of 34 percent between FY12-FY15 to 6 percent in FY18 and 13 percent in FY21. While one would like…
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Japan aims to reduce its dependency on Russian energy supply by taking steps, including LNG investments outside Russia, as it mulls its response to the Sakhalin and Arctic LNG 2 projects following the recent G7 leaders’ commitment, Minister of Economy, Trade and Industry Koichi Hagiuda said March 15. “We aim to reduce our dependency on Russian energy by securing alternative…
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The Price Differential Claim (PDC) on high speed diesel (HSD) and Petrol has reached to Rs 34.92 and Rs 23.43 per litre respectively as the government has decided to keep the prices of petroleum products unchanged for the last fortnightly of March (March 16-31) “In line with decision of the prime minister in the last fortnightly review, the petroleum product…
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The government has reportedly failed to convince Chinese government to restart suspended work on 300MW coal-fired power project at Gwadar as M/s Sinosure, Chinese loan insurance company, is unwilling to cover governmental breach risk under the medium and long term buyer credit insurance largely due to delayed payments to CPEC IPPs and delay in opening of revolving account, sources close…
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The country’s economic managers are claiming that the economy is now at a sustainable growth trajectory and a post Covid pandemic turnaround stands well and truly achieved. Well, to be honest they have a fair point, as exports are growing and corporate turnovers and profits results are depicting perhaps some historically best numbers. The recent financial figures from almost all…
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As the burden of the price differential needed to be absorbed by the government following the announcement of a petroleum relief package by Prime Minister Imran Khan increases by the day, the Economic Coordination Committee (ECC) of the cabinet on Tuesday approved another Rs12 billion for oil companies, taking the total expenditure on such products to Rs32bn this month alone. The meeting…
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Federal Minister for Energy Hammad Azhar held a meeting with Mr. Shixin Chen, Vice President (operations) for Asian Development Bank (ADB) at Ministry of Energy today. Both sides broadly discussed the ADB’s energy program in Pakistan, Government’s energy reforms. Minister lauded ADB’s support in pursuing reforms agenda and various development projects for the country. He expressed satisfaction on the firm…
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