December 14, 2023 -

Final Year Design Project Financing ceremony held in Faisalabad under aegis of PEC’s Pakistan Development Committee

December 14, 2023December 14, 2023 Admin

The second phase ceremony of the Final Year Design Project Financing 2023-24 of the Pakistan Engineering Council (PEC) was held at Iqbal Auditorium, University of Agriculture (UAF) Faisalabad, by PEC’s Pakistan Development Committee (PPDC). PEC Chairman Engr. Muhammad Najeeb Haroon was the chief guest at the ceremony. As many as 102 universities participated in the event and 92 universities physically…

Key agreements with KE delayed amidst cabinet objections

December 14, 2023December 14, 2023 Admin

Pakistan, on Wednesday, deferred the approvals of four key agreements between the government and K-Electric, the country’s largest integrated power distribution company. This decision arose due to objections raised by some members of a cabinet body during a meeting of the Economic Coordination Committee of the Cabinet. The drafts under discussion included the Power Purchase Agency Agreement (PPAA), Interconnection Agreement,…

Telenor concludes strategic review in Pakistan with sale of Telenor Pakistan to PTCL

December 14, 2023May 3, 2024 Admin

Oslo, Islamabad, Singapore, 14 Dec 2023: Telenor Group today announces the sale of its Pakistan telco operations to Pakistan Telecommunications Company Ltd (“PTCL”), which is part of technology and investment group e&. PTCL’s major assets include Ufone, a mobile operator in Pakistan with over 20 million customers.The sale is part of Telenor’s strategy to build scale and market-leading players in…

Dubai deal at COP28 hailed as ‘beginning of end’ for fossil fuels

December 14, 2023December 14, 2023 Admin

The world for the first time on Wednesday approved a call to transition away from fossil fuels as UN negotiations in Dubai tackled the top culprit behind climate change, but at-risk countries said far more action was needed. After 13 days of talks and several sleepless nights in a country built on oil wealth, the Emirati president of the COP28 summit quickly…

$2bn Thar power plant achieves financial close

December 14, 2023December 14, 2023 Admin

ISLAMABAD: The Private Power and Infrastructure Board (PPIB) — a one-window facility of the federal government — on Wednesday announced the $2 billion financial closing of the country’s largest Thar coal-fired power project, currently operational at Thar, by Shanghai Electric Corporation, China. In a statement, the PPIB said the financial close agreement was signed by PPIB Managing Director Shah Jahan…

Karachiites to pay Rs1.72 more for two FY23 quarters

December 14, 2023December 14, 2023 Admin

ISLAMABAD: Under the instructions of the Power Division, the National Electric Power Regulatory Authority (Nepra) has called a public hearing on Dec 20 to rubber stamp the application of Rs1.72 per unit additional cost to consumers of K-Electric on account of two quarterly tariff adjustments (QTAs) for last fiscal year i.e. second and third quarter of FY23. The Power Division…

Petroleum prices likely to be slashed by over Rs10

December 14, 2023December 14, 2023 Admin

ISLAMABAD: The prices of major petroleum products — petrol and high-speed diesel (HSD) — are set to fall by over Rs10 per litre each on Dec 15 for the next fortnight mainly because of a decline in the international market. Informed officials said the international prices of both HSD and petrol had declined over the past fortnight by almost 5pc…