May 2022 - Page 3 of 19 -

Experts call for a strong policy framework to promote electric vehicles

May 28, 2022May 28, 2022 Admin

Pakistan needs to strengthen its policy framework to promote electric vehicles, which are not only environment-friendly but also it will reduce the country’s dependency on fossil fuels. In the webinar on ‘Market preparedness and Policy Support for Electric Vehicles (EVs) in Pakistan’ during keynote address, Prof. Dr Naveed Arshad, Lahore University of Management Sciences said Electric Vehicle Policy lack ownership…

Power tariff hike coming up, minister warns

May 28, 2022May 28, 2022 Admin

An increase in electricity tariff would follow fuel price adjustment through withdrawal of subsidies while protecting the poor under principles agreed to with the International Monetary Fund (IMF), Minister of State for Petroleum Musadiq Malik said on Friday. Speaking at a news conference, he said Minister for Finance Miftah Ismail had very skillfully finalised conditions with the International Monetary Fund…

Power tariff for Karachiites raised by Rs4.83 for March

May 28, 2022May 28, 2022 Admin

The National Electric Power Regulatory Authority (Nepra) on Friday notified Rs4.83 per unit additional fuel cost adjustment (FCA) to K-Electric to be charged to consumers for electricity they consumed in March. This will help the Karachi-based private utility to mop up an additional amount of Rs7.86 billion from consumers in upcoming billing month of June. The FCAs shall be applicable…

Govt Working on Low Cost Power

May 28, 2022May 28, 2022 Admin

Sindh Energy Minister Imtiaz Ahmed Sheikh said the government was working expeditiously on low cost power generation from Thar Coal and renewable energy projects of solar and wind power generation. He said this while chairing a meeting of Sindh Engro Coal Mining Company (SECMC) held on Friday. He said Thar Coal Reserves have potential to be a game changer in…

LONGi has a long-term contribution Plan for Pakistan

May 28, 2022May 30, 2023 Admin

LONGi is the world’s leading solar technology company. It officially entered the Pakistan market In 2019. In three years LONGi went from 1 MW to 500 MW relied on its high-quality, reliable solar modules, and Firmly towards the goal of 1GW with all partners.As the most valuable solar PV solution company in the world, LONGi has never forgotten its social…

LONGi Plans to Set up Scholarship in Pakistan’s Primary Schools and Universities

May 28, 2022May 28, 2022 Admin

As World’s Leading Supplier of Solar PV Solutions, LONGi believes that corporate social responsibility activities are not a whim or a show, but a practice of an enterprise fulfilling its own responsibilities. Since 2019, LONGi has entered the Pakistani market officially and achieved a breakthrough from 1 MW to 500 MW. Without considering other factors，500 MW solar modules are expected…

Oil jumps 3% to 2-month high as EU seeks to ban Russian crude

May 27, 2022May 27, 2022 Admin

Oil prices rose about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union (EU) wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine. Brent futures for July delivery rose $3.21, or 2.8%, to $117.24 a barrel by 11:15 a.m. EDT…

Saudi Arabia’s making $1 billion from oil exports every day

May 27, 2022May 27, 2022 Admin

Saudi Arabia’s oil exports reached $30 billion in March, the highest in at least six years, driven by a rally in oil prices and rising production. The value of crude exports, now almost $1 billion a day, increased by 123% year on year, the kingdom’s statistics office said. Saudi Arabia’s crude production rose to 10.3 million barrels a day in…

Profits Outflow Reaches $1.5bn in 10 Months

May 27, 2022May 27, 2022 Admin

Despite the political crisis which affected all segments of life including business, the outflow of profits and dividends on foreign investments increased during the first 10 months of the current fiscal year. The State Bank of Pakistan (SBP) latest report issued on Thursday revealed that the outflow of profits and dividends increased by 11.5 per cent, or $152 million, to…

POL products: Govt yet to project PL and GST rates for FY23

May 27, 2022May 27, 2022 Admin

The government has yet to project petroleum levy (PL) and general sales tax (GST) on petroleum products for the next financial year 2022-23 to meet the conditions of the International Monetary Fund (IMF) and assumption of the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP). An official of the Petroleum Division told Business Recorder on condition of anonymity that…