November 2023 - Page 7 of 15 -

PSA reaffirmed its resolve to stand shoulder-to-shoulder with govt to achieve its ambitious clean energy plans

November 19, 2023November 19, 2023 Admin

The Pakistan Solar Association (PSA) has reaffirmed its commitment to stand shoulder-to-shoulder with the government in achieving its ambitious clean energy targets by the year 2030 for cutting the carbon footprint of the power sector and saving precious foreign exchange reserves otherwise spent on the import of highly expensive fossil fuel for electricity production.The PSA leadership assured the fullest support…

Pakistan, Iran agree to jointly develop IP gas pipeline implementation plan

November 18, 2023November 18, 2023 Admin

Pakistan and Iran have decided to revive their stalled cooperation on the Iran-Pakistan (IP) gas pipeline project, which has been languishing for years due to the fear of US sanctions. The two countries will start formal negotiations within the next few weeks. This was the outcome of the recent visit of Pakistan’s Interim Energy Minister Muhammad Ali to Tehran, where…

Solar plan could save $2 billion a year in LNG imports, expert says

November 18, 2023November 18, 2023 Admin

ISLAMABAD: An energy expert claims he has a realistic and workable plan to slash the country’s reliance on liquefied natural gas imports by up to 50 percent gradually in the next three years and reduce its massive power sector debt by using solar energy. Eng Arshad H Abbasi, co-Founder of Energy Excellence- Center NUST, Engineering University Peshawar said he has…

PSA joins govt for 60% renewable vision by 2030

November 18, 2023November 18, 2023 Admin

Stresses need for local private sector to take leading role in financing these projects LAHORE: The Pakistan Solar Association (PSA) has pledged its commitment to collaborate with the government of Pakistan to achieve the ambitious goal of generating 60% renewable electricity by 2030. The announcement was made by PSA Chairman Amir Chaudhry at the ‘Lets Grow Together’ event on Friday.…

Pakistan needs $25b loans this FY: IMF

November 18, 2023November 18, 2023 Admin

Lender doesn’t agree with growth, CAD projections ISLAMABAD: The International Monetary Fund (IMF) has revised Pakistan’s foreign loan requirements to $25 billion for this fiscal year — reducing it by $3.4 billion — and also lowered the economic growth projection to just 2%, turning down the government’s external as well as macroeconomic forecasts. Finance ministry sources said the IMF had…

ADB okays $250m for power networks

November 18, 2023November 18, 2023 Admin

ISLAMABAD: The Asian Development Bank (ADB) on Friday announced that it had approved $250 million in loans to Pakistan for improving its power transmission network in Punjab and Khyber Pakhtunkhwa to ensure reliable electricity supply. The project is aimed at helping the country achieve national grid stability, energy security, climate resilience and increased transmission capacity to deploy sufficient, reliable, clean,…

Gas price hike fuels short-term inflation to 42pc

November 18, 2023November 18, 2023 Admin

• Annual change in SPI crosses 40pc for first time since early June• Gas charges rocket 1,100pc year on year ISLAMABAD: A massive increase in gas prices drove the annual short-term inflation to above 40 per cent for the first time in over four months, official data showed on Friday. The inflation reading stood at 41.9pc for the week ending…

EVs’ manufacturing licenses: two, three wheelers take front seat in Pakistan

November 18, 2023November 18, 2023 Admin

A four-wheel EV manufacturer yet to approach govt for license under EV policy In Pakistan, 32 companies have so far received manufacturing licenses under the Electric Vehicles (EVs) Policy 2020–2025 and all of them are two and three wheeler manufacturers, a govt official told Business Recorder on Friday. No four wheel manufacturer has approached the government till date for the license under…

Solis Shines in Uzbekistan: Advancing Solar Energy Solutions at UzEnergyExpo and UzStroyExpo

November 18, 2023November 18, 2023 Admin

Ginlong (Solis), a renowned manufacturer of photovoltaic (PV) inverters and the world’s third-largest player in the solar energy sector, recently made a significant impact on Uzbekistan’s energy transition strategy. The company showcased its innovative solutions at the XVII International Exhibition UzEnergyExpo and the XII International Exhibition UzStroyExpo, both of which are well-attended by experts from the energy and construction industries.…

IMC generates 4.5MWs solar energy to increase its green energy share: Jamali

November 17, 2023November 17, 2023 Admin

ISLAMABAD-Chief Executive Indus Motor Company Ali Asghar Jamali has said that IMC has been using the largest solar plant by any automobile company in the country with 4.5MWs energy generation as they are committed to increase green energy’s share in their overall energy consumption.He was speaking at the “Champions of Change: A Dialogue with the Private Sector” conference held here…