Oil prices rose on Wednesday in volatile trading on concerns that the US will not consider additional concessions to Iran in its response to a draft agreement that would restore Tehran’s nuclear deal, and potentially the OPEC member’s crude exports. Iran said it had received a response from the US to the EU’s “final” text for revival of Tehran’s 2015…
Read More
Federal Resources Minister Madeleine King yesterday handed Australia’s fossil fuel industry two significant wins. The minister announced oil and gas exploration will be allowed at ten new Australian ocean sites – comprising almost 47,000 square kilometres. And she approved two new offshore greenhouse gas storage areas off Western Australia and the Northern Territory, to explore the potential of “carbon capture…
Read More
In the wake of daily protests by the general public and traders against inflated electricity bills, a local lawyer on Wednesday moved the Supreme Court seeking a direction to the federal government to either withdraw completely or at least reduce to some extent the Fuel Price Adjustment (FPA) charges and other surcharges from the utility bills. Meanwhile, the Lahore High…
Read More
Pakistan Army officers and all members of the federal cabinet announced to donate one month’s salary to the flood relief fund. A statement issued by the military’s media wing said on Thursday that “All General Officers of the Pakistan Army (all Brigadiers, Major Generals, Lieutenant Generals, and Generals) have donated one month’s pay to go towards relief and humanitarian aid/ration…
Read More
Coal is the most widely used cheap electricity producing source, which is currently generating 36% of world’s electricity, stated Wang Zihai, President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) during a think tank session held at PCJCCI secretariat on Tuesday. He added that Pakistan has large reserves of coal specially lignite coal which China has imported for $8bn…
Read More
Energy in all forms is closely linked to economic prosperity of the county. Due to urbanization, climate change, and global warming energy demand is increasing. Pakistan is the state which is facing energy crisis and unfortunately failed to find a relevant solution. Presently, we are using many electronic gadgets which cause electricity consumption. On the other hand; government buildings, including…
Read More
Following the notification released by the Ministry of Energy, Government of Pakistan (GoP) about the modification of the June Fuel Charges Adjustment (FCA), K-Electric will facilitate those Non Time-of-Use (Non-ToU) residential consumers, with revised electricity bills for the month of August who have electricity consumption of equal to or less than 200 units. The revised bills will be available from…
Read More
Islamabad, In a major development, Deputy Managing Director (P&E), National Transmission and Despatch Company (NTDC) called on Chairman NEPRA, Mr. Tauseef H. Farooqi at NEPRA HQ, Islamabad this morning to submit the System Operator (SO) Licence application along with the draft Grid Code, on behalf of NTDC. Mr. Farooqi appreciated the untiring efforts of the NTDC team in preparation of…
Read More
The Qatar Investment Authority (QIA) plans to invest $3 billion in Pakistan, Qatar’s Emiri Diwan said on Wednesday, lending support to the cash-strapped economy. Pakistan is in economic turmoil and faces a balance of payments crisis, with foreign reserves having dropped as low as $7.8bn, barely enough for more than a month of imports. The country is also contending with…
Read More
Prime Minister Shehbaz Sharif on Tuesday announced that 17 million of the total power consumers will be exempted from paying the high fuel charges adjustment (FCA) in their electricity bills. In a video address from Qatar, where he is on a two-day trip, the prime minister explained the mechanics behind why FCA was levied and said it had seen a…
Read More
