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Month: June 2023

Provincialisation of Discos: PC nominates senior member to facilitate Power Division PC had requested that scope and outcome for this transaction may be defined by Power Division and NEPRA

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power-sector

ISLAMABAD: Privatisation Commission has nominated its senior Consultant (Energy) Salman Amin to facilitate Power Division as part of team to develop bidding documents for engagements of transaction advisor for acquisition of power Distribution Companies (Discos) to provinces, well informed sources told Business Recorder. Privatisation Commission had requested that the scope and outcome envisaged for this transaction may be defined by Power…

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Afghanistan, Iran, Russia: Country outlines process for barter trade

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Afghanistan-border

Govt tries to manage balance of payments crisis amid record inflation KARACHI: Pakistan has passed a special order to allow barter trade with Afghanistan, Iran and Russia for certain goods, including petroleum and natural gas, the Ministry of Commerce said on Friday. Left with barely enough foreign exchange reserves to cover one month’s imports, Pakistan’s government is desperately trying to…

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$700m Dasu transmission line: Senate panel smells a rat in NTDC’s contract process

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Transmission-Line

ISLAMABAD: The Senate Standing Committee on Power on Friday again accused the National Transmission and Despatch Company (NTDC) of “tailoring” prequalification criteria and tender documents of $700 million 765-KV double circuit Dasu transmission line in connivance with the beneficial companies and World Bank representative. Senator Saifullah Abro, the committee Chairman also hinted that he would write a letter to World…

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Featuring Hi-MO 7 Module, LONGi Shows Up at the SNEC with Full Scenario Product Portfolio

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LONGi-Shows

On May 24, the annual SNEC officially kicked off in Shanghai. As the “record-holder” of the highest efficiency in the solar industry, LONGi globally releases Hi-MO 7, a new product based on HPDC technology. The product maintains the standard M10 module size, with a mass production power of 580 W and a conversion efficiency of 22.5%. It is an ultra-high-value…

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Growatt Shines at SNEC Exhibition with Top Brand Awards and Cutting-Edge Solutions

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Growatt

Growatt, a world-renowned provider of distributed energy solutions, has concluded its successful participation at the SNEC PV Power Expo in Shanghai. The company’s achievements were highlighted by its receipt of the Top Brand PV 2023 award from EUPD Research, along with the showcase of an impressive array of cutting-edge energy solutions. Top Brand PV Awards The Top Brand PV 2023…

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Inflation rockets to record 38pc in May

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Inflation-rockets

ISLAMABAD/KARACHI: Pak-istan’s inflation rate soared to a new all-time high of 38 percent in May 2023, making it the highest in the region.This remarkable level has not been witnessed in the nation since the commencement of comparable records in 1957. The inflationary surge, which escalated from the previous month’s rate of 36.4 percent, can largely be attributed to an unprecedented…

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LPG prices slashed by Rs37/kg for June

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Pakistan-LNG

ISLAMABAD: The government on Thursday lowered the prices of liquefied petroleum gas (LPG) by 15.88 percent or Rs37/kg for domestic and commercial consumers for June 2023 over the previous month. The decision comes after Saudi Aramco significantly reduced the prices of propane and butane, which Islamabad imports for local consumption. The revised price for a kilogram of LPG in June…

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Pakistan exports record 90,000 tons of fuel oil in May

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oil-export

KARACHI: Pakistan shipped 90,000 tons of fuel oil in May 2023 to reduce a huge stock built up over the last several months amid low demand in the country, industry sources told The News on Thursday. Fuel oil exports reached 250,000 tons in the last three months (March to May), according to the sources, who foresee more exports in the…

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Oil sales plunge by 40pc inMay amid economic slowdown

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Oil-gains

KARACHI: The month of May witnessed a staggering 40 percent decline in oil sales compared to the same period last year, as the country grapples with an economic slowdown and a surge in the volume of Iranian smuggled petroleum products flooding the market, industry data showed on Thursday. According to sales figures of oil marketing companies, the sale of petroleum…

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K-Electric partners with Visa

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circular-debt-K-electric-ceo

KARACHI: K-Electric has partnered with Visa to work together for KE consumers by offering them to make digital payments of their utility bills, a statement said on Thursday. KE said it intended to bring convenience and value to their constituents. The company has signed a strategic partnership with Visa to enable the primarily through Visa’s digital payment solutions and partner…

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