KARACHI: The unexpected massive increase in petrol and diesel prices was widely felt as inflationary at the retail level and the State Bank of Pakistan (SBP) may have to review its decision of leaving the key interest rate unchanged. Many analysts believe that the inflation would be in the range of 30-31 per cent in the ongoing month which is against the…
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KARACHI: Timing is of the essence in policymaking. A well-timed decision can yield optimal results. Although delays might bring benefits, they can also do considerable damage. Reflecting on the recently introduced oil refining policy for both existing and new projects, one can’t help but wonder about the lost opportunities that might have been seized with more proactive decision-making. Currently, Pakistan…
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[Karachi, Pakistan – September 14, 2023] – Solis, renowned as the third-largest inverter manufacturer worldwide, marked a significant milestone at the Solar Pakistan Exhibition & Conference 2023, held from September 7 to 9 at the Karachi Expo Centre. The event saw the introduction of Solis’ highly-anticipated S6 technology range to the Pakistani market for the very first time. The S6…
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Unraveling the link between petrol prices and electricity bills in Pakistan’s inflation scenario. Insights into impacts and solutions.
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The caretaker government has announced the third hike in the prices of petroleum products since assuming power last month.The price of petrol has been increased by Rs. 26.02 per liter to Rs. 331.38 , while the price of high-speed diesel has gone up by Rs. 17.34 per liter to Rs. 329.18.Its highest increase in the history of Pakistan and off…
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ISLAMABAD: A Chinese electric car manufacturing company has announced establishing an electric vehicle (EV) plant in Pakistan and chain of showrooms in major cities of the country. This announcement was made by a delegation of XinjianJingyi Cheng Group, led by its assistant chairman GU Xongquan, during a meeting with FPCCI Vice President Amin Ullah Baig here on Thursday. Mr Baig,…
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Report says most countries are not on track to even meet emissions targets by 2030 LONDON: Global investment of $2.7 trillion a year is needed to achieve net zero emissions by 2050 and avoid temperatures from rising above 1.5 degrees Celsius this century, a report by consultancy Wood Mackenzie said on Thursday. Scientists have said the world ideally needs to…
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Interim Minister for Energy, Muhammad Ali says increase in gas rates ahead of winter was inevitable to contain the gas-sector circular debt ISLAMABAD: Petroleum Division has re-submitted a summary for upto 50 percent raise in gas sale prices to the interim cabinet in-line with the demand of the International Monetary Fund (IMF), an official of Petroleum Division told Business Recorder on condition…
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ISLAMABAD: The Private Power Infrastructure Board (PPIB) has sought revision in indexation/adjustment formula, taking into account the one-time adjustment of 20 percent of the bid tariff at Commercial Operation Date (COD) for exchange rate variation, well-informed sources told Business Recorder. The PPIB, in a letter to the National Electric Power Regulatory Authority (NEPRA) has cited reference of correspondence of NEPRA’s of…
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Risen Announces the signing of Distributor appointment and new sales agreement with AGN Solar for supply for 50MW of its high efficiency modules . AGN Solar is specialized distributor of Renewable Energy Products and Tier 1 Equipment such as Solar Panels , Inverters and batteries that create solar energy in Pakistan and middle east . The agreement includes 90,000PV modules…
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