Solar energy market expected to grow from 1.3GW in 2023 to 9.77GW by 2028 BEIJING: “The Green Silk Road is an important tool that can help us all pull out of the dead ends of the past and set us on a new pathway that benefits people and planet alike,” United Nations Secretary-General Antonio Guterres emphasised in his speech at…
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• Pakistan joins China’s moon programme• Kakar offers Friday prayers in Xinjiang• Khunjerab border crossing to operate throughout the year ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar returned home on Friday evening after a whirlwind five-day China trip that took him to places where only few foreign dignitaries before him visited, and one that saw Islamabad and Beijing ink over…
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ISLAMABAD: K-Electric (KE) has reached an agreement with the federal government for an almost 100 per cent boost in supply from the national grid, the power utility said on Thursday. The announcement comes amid stiff opposition from Karachi-based business leaders who have objected to KE’s push for a higher quarterly tariff. They have also raised concerns over KE’s six-year power…
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Asian markets fell and oil prices extended gains Friday on worries that an expected ground invasion of Gaza by Israel will spark a wider conflict in the Middle East. Risk aversion was compounded by Federal Reserve boss Jerome Powell, who indicated a pause in interest rates at the bank’s next meeting but left open the prospect of another hike later. Traders are…
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ISLAMABAD: The Central Power Purchasing Agency (CPPA) on Thursday sought about 55 paise per unit additional fuel cost adjustment (FCA) for ex-Wapda distribution companies (Discos) to mop up another Rs7bn from consumers next month, despite a record 77pc electricity generation from cheaper domestic fuels, on top of a 26pc increase in the annual base tariff and an 18pc hike under…
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China will provide support to develop Gwadar Port in better, faster way ISLAMABAD: Pakistan and China have signed a new advisory deal for faster development of Gwadar Port aimed at giving a push to the strategically important pillar of the China-Pakistan Economic Corridor (CPEC) that is facing inordinate delays. The advisory deal was among 20 agreements and memoranda of understanding…
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KARACHI: Pakistan Refinery Limited (PRL), one of the country’s largest oil refineries, has entered into a long-term agreement with Russian companies for the supply of crude oil, the company’s chief executive officer said on Wednesday. “PRL is negotiating with the Russian companies for the next cargo of crude oil in December this year,” a source in the oil sector said.…
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ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar said on Wednesday that his country has completed more than 50 projects worth $25 billion under the China-Pakistan Economic Corridor (CPEC). Kakar was speaking at the Belt and Road Forum in Beijing. The CPEC is a flagship project under China’s Belt and Road Initiative, with more than $65 billion pledged for road, rail and…
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• Crucial agreement signed to cut cost of cross-country Main Line-1 rail link• Pakistan Refinery inks $1.5bn deal to boost petrol, diesel production• PM Kakar looks to Beijing for help to diversify export basket, expand industrial base ISLAMABAD: Pakistan and China on Wednesday agreed to expand the scope of the multibillion-dollar CPEC infrastructure project, which will now diversify to areas…
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The agreement is set to increase PRL’s refining capacity from 50,000 bpd to 100,000 bpd A memorandum of understanding (MoU) has been signed by Pakistan Refinery Limited (PRL) and the United Energy Group of China (UEG). This agreement is set to escalate PRL’s refining capacity from 50,000 barrels per day (bpd) to 100,000 bpd. The MoU was inked at the…
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