KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday applauded a govt decision to green-light 13 old renewable energy (RE) projects of about 700 megawatts. FPCCI president Irfan Iqbal Sheikh said high cost of energy, coupled with circular debt, was hindering the industrial growth, and with rising oil prices it’s imperative to bring down the energy cost,…
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ISLAMABAD: Only three of 18 oil and gas exploration and production blocks offered by the government have been awarded to local companies, with the rest attracting no interest from local or foreign investors, officials said on Tuesday. The two blocks were awarded to the state-run Oil and Gas Development Company Limited (OGDCL) and another to a joint venture of two…
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KARACHI: Power generation recorded 10 percent decline in the first eleven months of the current fiscal, with cost of production jumping up by six percent in the period under review, data showed on Tuesday. Power generation decreased by 10 percent YoY to 115,876 GWh (14,412MW) compared to 129,317 GWh (16,084MW) during the corresponding months of the last financial year, data…
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ISLAMABAD: With an unending rise in inflation, the electricity costs continued to go up as ex-Wapda Distribution Companies (Discos) and K-Electric have sought clearance to extract almost Rs30 billion more from their consumers amid heat waves in the country. In their separate tariff petitions, Discos are seeking to raise an additional Rs27bn from their consumers in July’s bill while KE…
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ISLAMABAD: The country has failed to secure liquefied natural gas (LNG) from the spot market in its first attempt after a year-long break, as it received no bid for six shipments for the coming winter months. State-run Pakistan LNG Ltd (PLL), which last week floated short-term tenders for three cargoes each in October and December, announced on Tuesday that it…
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Peshawar – U.S. Ambassador Donald Blome today visited the multi-purpose Gomal Zam Dam in the South Waziristan District of the Newly Merged Districts (NMDs) of Khyber Pakhtunkhwa. He was accompanied by the Chairman of Water and Power Development Authority (WAPDA), Lt. General (retired) Sajjad Ghani, and the Secretary of the Agriculture Department of Khyber Pakhtunkhwa, Muhammad Javed Marwat. The dam…
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ISLAMABAD – Prime Minister Shehbaz Sharif said the signing of Memorandum of Understanding (MoU) for 1200 Megawatt Chashma-V Nuclear Power Plant was a great step forward of economic cooperation between Pakistan and China.Addressing the MoU signing ceremony in the federal capital, he said the project would be started without any further delay.He said under difficult economic situation, Pakistan was up…
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June 19, 2023: Neelum Jhelum Hydel Power Station is likely to resume electricity generation by the end of next month as hectic efforts are underway to complete the remedial works being carried out in tail race tunnel of the project. This was crux of the briefing given to Chairman WAPDA Engr Lt Gen Sajjad Ghani (Retd) by the management during his…
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Vienna, Austria, 19 June 2023 – The OPEC Fund for International Development (the OPEC Fund) today signed an agreement with the International Renewable Energy Agency (IRENA) to join the Energy Transition Accelerator Financing (ETAF) platform, a global initiative that seeks to mobilise funds for renewable energy investments. The OPEC Fund plans to support the platform with up to USD 250 million financing until…
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ISLAMABAD: The government has decided to commemorate decade of China Pakistan Economic Corridor (CPEC) early next month both in Pakistan and Beijing, well-informed sources told Business Recorder. China has invested billions of dollars in the CPEC projects in first phase across the country, especially in power sector and infrastructure. The Ministry of Planning, Development and Special Initiatives (PD&SI) has prepared a…
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