TORONTO: Barrick Gold Corp is open to bringing in Saudi Arabia’s wealth fund as one of its partners in Pakistan’s Reko Diq gold and copper mine, Barrick CEO Mark Bristow told Reuters in an interview on Tuesday. He also dismissed a June media report that Barrick was in talks with fellow Canadian miner First Quantum Minerals on a possible acquisition as a…
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In a world where energy security stands as a linchpin of progress and prosperity, Pakistan’s decision to halt the ambitious Iran-Pakistan Gas Pipeline Project has ignited a discourse that intertwines economic aspirations, diplomatic maneuvers, and strategic intricacies. The complexities inherent in this choice reverberate beyond mere energy dynamics, encompassing a plethora of benefits and challenges that must be meticulously weighed.…
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ISLAMABAD: At last, after one year and one month, the 969 MW Neelum-Jhelum hydropower project that became non-operational on July 6, 2022, due to a blockage in the 3.5 km Tail Race Tunnel (TRT) has been connected to the national grid by making one unit of 242.25 MW operational. Out of the remaining three units, two units would be made…
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ISLAMABAD: Before leaving office, the PMLN-led coalition government on Monday approved the merger of quarterly tariff increases for K-Electric with other distribution companies (Discos) seeking more than Rs4 per unit additional cost worth Rs145 billion for recovery in July-September billing, besides clearing amendments to the power transmission policy for speedy investments from Gulf Cooperation Council (GCC) through negotiations on government-to-government…
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ISLAMABAD: In a rare move, Finance Minister Ishaq Dar on Monday presided over a meeting of the Cabinet Committee on Energy (CCoE) on behalf of Prime Minister Shehbaz Sharif and approved three major policies including incentives for upgradation of old oil refineries, implementation of about 20 renewable energy projects blocked for years and national electricity plan. The CCoE is led…
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The outstanding performance of 86 local and multinational companies and industries in the arena of environmental protection will be recognized at the 20th Annual Environment Excellence Awards-2023 here at a hotel on August 9 (Wednesday). The National Forum for Environment and Health (NFEH) is organizing the event.Sindh Governor, Kamran Khan Tessori, and Sindh Local Government Minister, Syed Nasir Hussain Shah,…
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LAHORE: The Karot Hydropower Plant, a key project under the China-Pakistan Economic Corridor (CPEC), has added around 3.64 billion units of clean and cheap electricity to the national grid in its first year of operation, the company said on Thursday. The 720MW plant, which was inaugurated in June 2022, uses indigenous resources and has no carbon emissions. It contributed more…
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ISLAMABAD: Finance Minister Ishaq Dar chaired a meeting on reforms in the energy sector at the Finance Division, Friday, says a press release. Minister of State for Petroleum Division, Musadik Masood Malik, SAPM on Finance, Tariq Bajwa, SAPM on Revenue, Tariq Pasha and senior officers from the Finance and Petroleum Divisions attended the meeting. PM for making energy sector reforms…
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PM to preside over the meeting on Monday to grant final approval ISLAMABAD: In a bold move to achieve 100% local diesel production, the Cabinet Committee on Energy (CCoE) is poised to sanction incentives to existing refineries for the establishment of upgradation plants. Prime Minister Shehbaz Sharif is slated to preside over the CCoE’s meeting on Monday to grant final…
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Gwadar Port and the completed Phase one of the Gwadar Free Trade Zone, stand as testaments to CPEC’s achievements BEIJING: The Pakistan Ambassador to China, Moinul Haque, extolled the China-Pakistan Economic Corridor (CPEC) as a transformative force for Islamabad and the entire region, fostering peace, prosperity, and growth. Haque highlighted CPEC’s alignment with Pakistan’s development agenda, lauding it as an…
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