ISLAMABAD, August 29, 2023: The Oil and Gas Development Company Limited (OGDCL) on Tuesday hosted a dynamic workshop on energy in collaboration with the Lahore University of Management Sciences (LUMS). The workshop, held at the OGDCL headquarters, provided a platform for industry experts and thought leaders to convene and deliberate on the current landscape, future prospects, and collaborative initiatives within…
Read MoreDay: August 29, 2023
Renewables Competitiveness Accelerates, Despite Cost Inflation
Global power sector saved fuel costs of USD 520 billion last year thanks to renewables, says new IRENA report. Abu Dhabi, United Arab Emirates, 29 August 2023 – The fossil fuel price crisis has accelerated the competitiveness of renewable power. Around 86 per cent (187 gigawatts) of all the newly commissioned renewable capacity in 2022 had lower costs than fossil…
Read MoreMajor legal victory for Imran Khan in Toshakhana case
IHC suspends sentence awarded to PTI chairman in state gifts case and orders his release on bail In a major legal victory, the Islamabad High Court (IHC) suspended the sentence awarded to former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan in the Toshakhana case. The IHC ordered the release of the Pakistan Tehreek-e-Insaf (PTI) chairman, who is incarcerated at…
Read MoreCut in Aug, Sept power bills proposed
ISLAMABAD/ PESHAWAR: Top officials of power and financial divisions have tailored some suggestions for immediate relief to masses in the electricity bills, which are to be placed before the federal cabinet meeting on Tuesday (today) with Caretaker Prime Minister Anwaarul Haq Kakar in the chair. All officials are tight-lipped but some insiders told The News that one of the suggestions…
Read MoreWapda security staff stops wearing army-like uniform after GHQ letter
ISLAMABAD: The security staff of Water and Power Development Authority (Wapda) has stopped wearing the army-like uniform after General Headquarters conveyed its concern whereas Federal Investigation Authority (FIA) has started an investigation into the unauthorised purchase of the uniform in bulk without obtaining requisite permission. The Wapda last made headlines in February this year when portraits of Quaid-i-Azam Muhammad Ali…
Read MoreOil sector faces liquidity crunch, fuel supply at risk
KARACHI: The oil sector is facing a severe liquidity crunch as the rupee’s sharp depreciation has shrunk its credit lines and made it harder to import crude oil and petroleum products, industry sources said on Monday. The sector also fears a possible shortage of fuel in the country if banks do not increase their lending limits for oil imports, which…
Read MoreSenate panel slams independent power producers
ISLAMABAD: The Senate Standing Committee on Power on Monday joined public criticism of the “unprecedented electric bills” and directed the Power Division to provide lists of electricity defaulters and outstanding dues to all the distribution companies (Discos). The meeting of the panel presided over by Senator Saifullah Abro discussed the unprecedented electric bills that have led to nationwide protests. On…
Read MoreGovt between rock and a hard place as ‘fuel shock’ looms
• Petrol price likely to increase by Rs9/litre due to rupee depreciation, global price hike• Finance ministry to review relief proposals over inflated bills due to IMF accord ISLAMABAD: While the caretaker government struggles to find a solution to ‘electricity price shock’ against the backdrop of countrywide protests, a potential petroleum price shock looms over the horizon later this week, that…
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