ISLAMABAD, Oct 26 (APP): Minister for Energy Muhammad Ali on Thursday said the proposed increase in gas tariff would not affect 57 percent of consumers across the country rather it would help control and end the ever-increasing circular debt of the petroleum sector.“It will be a big achievement,” the minister said in a media briefing on the gas prices’ revision…
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ISLAMABAD: The recent surge in gas prices would be instrumental in curbing the gas sector’s circular debt, which has swelled to Rs2,100 billion, Caretaker Energy Minister Muhammad Ali said on Thursday but painted a bleak picture for the coming winter, with gas supply duration limited to just eight hours a day. Briefing the media, Mr Ali said that the current…
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Former Chinese premier Li Keqiang, a reform-minded bureaucrat once tipped as the country’s future leader only to be eclipsed by President Xi Jinping, died on Friday. He was 68. He had a heart attack on Thursday and passed away in Shanghai just after midnight, state-run news agency Xinhua said. Interim Prime Minister Anwaarul Haq Kakar said he was “deeply saddened and shocked”…
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Company plans to add 2,272MW from renewable, indigenous sources KARACHI: The economic crisis, driven by factors like high inflation, increased policy rates and economic contraction, significantly affected the performance of K-Electric (KE) in financial year 2023 as the company recorded a loss of nearly Rs31 billion. It was observed during KE’s annual general meeting, chaired by Chief Executive Officer Moonis…
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IMF review signals delays in energy deals, debt reduction measures ISLAMABAD: Despite an increase in electricity prices, Pakistan’s power sector circular debt reached Rs2.54 trillion by the end of September. However, this debt remains within the maximum ceiling agreed upon with the International Monetary Fund (IMF). The Ministry of Finance, on Thursday, conducted a review of the $3 billion Stand-By…
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China-Pak JV aims to remove hurdles preventing transition to alternative fuels BEIJING: Pakistan’s Senate Chairman Muhammad Sadiq Sanjrani, along with a delegation, witnessed the signing of a landmark memorandum of understanding (MoU) in Beijing. The MoU, inked on October 25 between TGOOD, a leading Chinese company, and the REC Group of Pakistan, aims to promote environmentally friendly electric vehicles (EVs)…
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ISLAMABAD: Minister for Energy Muhammad Ali on Thursday said the issue of circular debt in gas sector will be resolved everlastingly as many companies were leaving the country due to losses and circular debt. Addressing a press conference along with Minister for Information and Broadcasting Murtaza Solangi, he said the increase in gas tariffs would not affect 57 percent of…
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ISLAMABAD: Pakistan has organized a roadshow in Dubai to attract investors for 600 MWp solar power PV project at Kot Addu (Muzaffargarh) with the support of the United States Agency for International Development (USAID) through Power Sector Improvement Activity (PSIA), well-informed sources told Business Recorder. The Government of Pakistan is pursuing the promotion and development of Alternative Renewable Energy (ARE) technologies…
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Karachi, 26 October 2023 – The Overseas Investors Chamber of Commerce and Industry (OICCI) unveiled details for the Pakistan Climate Conference (PCC) 2023, scheduled to take place on November 1, 2023. This is the second consecutive year that the OICCI is organizing a multi-stakeholder dialog to propose collective solutions for Pakistan’s climate emergency. Starting from 2022, the Pakistan Climate Conference…
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