ISLAMABAD-NEPRA has imposed a fine of Rs 10 million on Central Power Purchasing Agency – Guarantee Ltd. (CPPA-G) due to its failure to satisfy the Authority in the matter of revision in minimum loading limit of Lalpir and Pakgen power plants. CPPA-G failed to provide any satisfactory response and was found guilty of violating relevant provisions of the NEPRA Act,…
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The government, in collaboration with Independent Power Producers (IPP), is set to agreement on using 10% indigenous coal to generate electricity. The initiative will help in reducing the electricity generation cost in the country. IPPs demonstrated their willingness to generate electricity by using up to 10% of domestic coal. The private Power and Infrastructure Board (PPIB) is planning to switch…
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The reconstitution of Board of Directors (BoDs) of three distribution companies (Discos) has been challenged in the court of law, said the sources. The sources said the reconstitution of the Boards of Faisalabad, Islamabad and Lahore electric supply companies (Fesco, Iesco and Lesco) on the ground that they were constituted for a period of three years back in December 2020…
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Pakistan and Saudi Arabia are said to have agreed to activate the agreement on financing and providing crude oil and petroleum products and exploring possibilities of supply of LNG to Pakistan, well informed sources in Board of Investment (BoI) told Business Recorder. This was agreed during a first virtual meeting of the Joint Economic Sub-committee of the Saudi-Pakistan Supreme Coordination Council.…
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KE’s financial results for Q1 FY 23 showed a considerable decline owing to the impact of multiple macroeconomic and geopolitical factors. The company reported losses per share of PKR 0.59 in Q1FY23 compared to earnings per share of PKR 0.11 for same period last fiscal. Gross profitability also decreased while the units dispatched to Karachi shrank by 8.9%. EBITDA decreased…
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The UK’s windfall tax on oil and gas profits must be changed to raise billions more and to stop companies using loopholes to invest in further fossil fuel extraction, the outgoing president of global climate talks has said. “These are excessive profits, and they have to be treated in the appropriate way when it comes to taxation,” said Alok Sharma,…
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OPEC is likely to maintain its view world oil demand will rise for another decade, longer than many other forecasters predict, in a forthcoming major report, despite the growing role of renewables and electric cars, two OPEC sources said. The Organization of the Petroleum Exporting Countries is scheduled to update its long-term oil demand forecasts in its 2022 World Oil…
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Shell Pakistan promotes biker and rickshaw refuelling safety to its consumers and has launched a safety campaign, named “Ehtiyaat Bunay Hifaazat” (precaution means protection), aimed at creating awareness amongst 2wheelers and 3wheelers of the risks of staying seated on their vehicles while fuelling. An industry level event was organised and attended by representatives of the Oil and Gas Regulatory Authority…
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The global leading distributed energy solution provider Growatt has launched a new C&I inverter specifically for commercial and industrial purposes. The company highlighted that the inverter is specially designed for the Pakistani solar market. The weight of MID 50KTL3-X2 is 50% less in weight as compared to the MAX 50KTL3 LV and also the volume of MID 50KTL3-X2 is 1/3 of the MAX 50KTL3 LV, which is much smaller…
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