Day: November 24, 2023

Nestlé Pakistan wins Sustainability Awards

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ISLAMABAD: Nestlé Pakistan won two top awards in the categories of Gender Equity and Agri Tech & Food Security at the Sustainability Awards hosted by Sustainable Policy Development Institute (SDPI).Nestlé Pakistan’s recognition in the two categories were for its Creating Shared Value (CSV) initiatives, the Nestlé-BISP Rural Women Sales Program that has supported 2800 rural women to achieve financial empowerment with the ambition to reach 5000 women by 2025; and Smart Soil Moisture Sensors on 548 acres, which assist farmers detect the sub-soil moisture level, helping Nestlé achieve its Waters…

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$10bn TAPI project: Law ministry’s opinion sought afterTurkmenistan’s demand

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ISLAMABAD: The fate of Turkmenistan’s demand seeking legislative cover of Foreign Investment Promotion and Protection Act (FIPPA), 2022 for its investment to be made in Pakistan’s territory, under the trans-nation $10 billion TAPI gas pipeline project, depends upon the legal opinion from the Law Division. The gas pipeline from Turkmenistan has to pass through Afghanistan, Pakistan and India. Turkmenistan will be having 85 percent shares in the project while Afghanistan, Pakistan and India would each have 5 percent shares of $200 million. “The Petroleum Division has sought the opinion from…

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Bio-saline projects uplift Thar

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KARACHI: Sindh Engro Coal Mining Company (SECMC) is leading the way in biodiversity conservation, sustainable agriculture, and fish farming in Tharparkar, a statement of the company said on Thursday. The company has launched several initiatives to improve food security and livelihood generation for the local communities in the desert region, where it operates the largest open-pit coal mine in Pakistan. One of these initiatives is the bio-saline agriculture project, which started in 2016 and has successfully cultivated 16 edible plant varieties using underground saline water from the coal mines. These…

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Coal power project at Gwadar: Chinese firm shows ‘conditional’ willingness to commence work

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ISLAMABAD: Chinese firm, CIHC Pak Power Company (Pvt) Limited (CPPCL) is said to have shown willingness to commence work on 330 MW imported coal power project at Gwadar with stringent conditions, to be met by the Private Power & Infrastructure Board (PPIB) and National Electric Power Regulatory Authority (NEPRA), well-informed sources told Business Recorder. This project has been firmed up, after interactions at the highest level between China and Pakistan as the former had refused to start a project on Thar coal. The power company submitted revised tariff petition to NEPRA…

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Gas consumers to pay Rs5b more

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ECC decides to recover local, imported gas price difference from urban consumers ISLAMABAD: Days after burdening gas consumers with an additional Rs400 billion cost, the government on Thursday decided to recover Rs5 billion per month more from them on account of imported gas supply to fertiliser plants at lower rates after the finance ministry refused to provide funds. The Economic Coordination Committee (ECC) decided that two fertiliser plants would continue to pay the price of Rs1,229 per million British thermal units (mmBtu) as against the imported gas rate of Rs3,625.…

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