Austria, Germany, Italy and the Netherlands announced plans this week to prepare to resurrect old coal plants as gas supplies dwindled. The moves came just days after Moscow reduced natural gas flows to several European countries, including Italy and Slovakia, alarming leaders who are worried about energy reserves ahead of winter. Are you on Telegram? Subscribe to our channel for…
Read More
It landed like a bombshell. On the 5th of July, the State Bank of Pakistan (SBP) updated its list of products for which “prior permission” will be required and LCs can be opened for their import. Among the products added to the list – solar panels, inverters, and batteries. The requirement had been in place since May 20, but this…
Read More
M/s General Electric (GE) has demanded $ 100 million for upgradation of RLNG-fired power plants in Punjab, which the government is endeavoring to privatize for long, well-informed sources told Business Recorder. Sharing the details, sources said, a meeting was recently held at SNGPL head office, wherein implementation of CCoE/ ECC decision for waiver of minimum 66 per cent take or pay…
Read More
The government on Thursday approved an increase in natural gas prices in the range of 43% to 235% with effect from July 1 in a bid to recover Rs660 billion from the majority of domestic and all other categories of consumers. Addressing a news conference, Minister of State for Petroleum Dr Musadiq Malik said, “Nearly half of the domestic consumers…
Read More
Indus Motor Company (IMC) joined hands with The ChildLife Foundation, pledging its support with a Rs 6.50 million donation, towards establishing the ChildLife Resuscitation Room – equipped with cutting-edge life-saving medical equipment – at the Children’s ER (Emergency Room) at the Pakistan Institute of Medical Sciences (PIMS), Islamabad. In addition, this Resuscitation Room will also provide Telemedicine support through its…
Read More
In a bid to boost the renewable energy sector, the government will announce a national solar energy policy on August 1. The implementation of the policy will be subject to the approval of the Council of Common Interests (CCI). The development came during a meeting of the Energy Task Force, which was held on Thursday in Islamabad, under the chairmanship…
Read More
LPG plant, which has not been functioning for several years, to meet the domestic gas demand. According to the presentation, rampant cutting of trees was observed not only in Balochistan, but also in Murree, Khyber Pakhtunkhwa, Gilgit-Baltistan and even in Islamabad. It informed the authorities that the LPG policy by the government has linked the price of LPG with the…
Read More
Amid countrywide electricity shortages, the 969-megawatt Neelum-Jhelum hydropower project, completed at an estimated approved cost of about Rs508bn, has been closed due to major cracks in its tailrace tunnel. “Neelum-Jhelum is unfortunately offline. Details of its suspension or fault have not been concluded yet,” Power Minister Khurram Dastgir Khan confirmed at a presser, adding that thorough investigations were currently under…
Read More
Oil production declined three per cent year-on-year in 2021-22 to 73,420 barrels per day (bpd). Lower production from Nashpa, Adhi and Makori East oil fields besides no addition of any sizable oil field led to the annual decline in oil production, according to Topline Securities analyst Mehroz Khan. Similarly, gas production went down 2pc year-on-year to 3,388 million cubic feet…
Read More
The China Power Hub Generation Company (Pvt.) Ltd (CPHGC) has sought the required funds for import of coal from Afghanistan as a deal is expected to be signed on Wednesday (today) and delivery will start from July 10, 2022. This was conveyed by Chief Executive Officer (CEO) CPHGC to CEO, CPPA-G on the proposed plan and progress to import coal…
Read More
