Year: 2023

Pakistan eyes BRICS membership, seeks Russia’s help

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Russian-crude

ISLAMABAD: Pakistan has applied for BRICS membership and sought Russia’s support, the country’s envoy to Moscow Muhammad Khalid Jamali has said. There has been no comment from the Foreign Office without whose approval Jamali (who is yet to present his credentials) would not have made this revelation. According to media reports, Jamali was talking to the Russian news agency TASS in which he revealed that Pakistan had filed an application to join the BRICS and was counting on Russia’s assistance. Jamali said Pakistan had already applied for membership of the…

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Economist terms energy sector ‘black hole’

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power-sector

ISLAMABAD: Dr Hafeez Pasha, former finance minister, Wednesday, while identifying key areas which undermine human security in Pakistan has said that the black hole in Pakistan’s economy is the energy sector, due to unbelievable levels of line losses and rising energy prices. He said this while speaking at the launch of his report titled, “Human Security in Pakistan” on the second day of the 26th Sustainable Development Conference (SDC) organised by the Sustainable Development Policy Institute (SDPI). Dr Pasha said that security must be analysed keeping in view of the…

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Questions raised over Rs510bn transmission plan

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Power-control

ISLAMABAD: Almost all the provinces and distribution companies as well as the power regulator have raised questions over the revised Rs510 billion investment plan for transmission system to be implemented by the National Transmission and Despatch Company (NTDC) over three years (2023-25). Similar objections were raised by provinces in January this year over insufficient allocations for evacuation of power from their priority power plants when the NTDC had proposed an investment outlay of about Rs370bn for the same (2023-25) period. The plan was subsequently returned to the transmission system operator…

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OGDCL SUCCESSFULLY COMPLETES KHEWARI DEVELOPMENT ​​PROJECT WITH FAST-TRACK STRATEGY:

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OGDCL

ISLAMABAD: While adopting a strategic fast-track strategy, the Oil & Gas Development Company Limited (OGDCL) has successfully completed the Khewari (Suleman 1 & 2) Development Project. The Khewari Development Project has potential of 10 million standard cubic feet per day (MMSCFD) which is being processed at the Sinjhoro Plant in the Sanghar district of Sindh province. Currently, the wells are undergoing choke optimization process to further enhance gas supply.To expedite the project, OGDCL implemented a fast-track strategy, ensuring swift processes and timely delivery. This included laying a 6-inch diameter pipeline…

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2-Day Solar Exhibition in Peshawar inaugurated

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Peshawar: For the first time in Khyber Pakhtunkhwa, the two-day solar exhibition International Solar Energy Meet Peshawar has started. The exhibition was held at Monal Marquee. Peshawar’s first solar exhibition is being organized in strategic partnership with Pakistan Solar Association (PSA). ISEM Peshawar is supported by Department of Energy and Electricity Khyber Pakhtunkhwa, Pakhtunkhwa Energy Development Organization PEDO, Khyber Chamber of Commerce and Industry, Shard Chamber of Commerce and Industry, Alternative Energy Development Board AEDB, National Energy Efficiency and Conservation Authority NEECA, University Of Engineering and Technology UET Peshawar and…

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Emirates joins UAE based research consortium for renewable and advanced aviation fuels

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emirates-aircraft

Karachi , 21 November 2023 – In the UAE Year of Sustainability, and at the 3rd ICAO Conference on Aviation and Alternative Fuels (CAAF/3) held in Dubai, eight founding entities announced the launch of the “Air-CRAFT” initiative – a UAE based research consortium focused on developing, producing, and scaling sustainable aviation fuel (SAF) technologies. Air-CRAFT, or the UAE Centre for Renewable and Advanced Fuel Technologies for Aviation, is a first-of-its-kind initiative that will bring together entities across the value chain – industrial policy makers, aviation regulators, fuel producers, academia and…

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PRL signs licence deals with Honeywell UOP, Axens for refinery upgrade

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PRL-eyes

KARACHI: Pakistan Refinery Limited (PRL) has signed pivotal license agreements with global technology providers Honeywell UOP and Axens for its ambitious Refinery Expansion and Upgrade Project (REUP), the company said on Tuesday. “PRL has signed pivotal license agreements with renowned industry leaders Honeywell UOP and Axens, for its ambitious REUP,” the PRL said in a filing to the Pakistan Stock Exchange (PSX). The REUP project aims to double PRL’s refining capacity from the current 50,000 barrels per day (bpd) to 100,000 bpd and upgrade the existing configuration from hydro skimming…

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Pakistan plans to sell excess power to Central Asia in winter season via CASA-1000

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crackdown-power

ISLAMABAD: Pakistan is looking to export its surplus electricity to Central Asian states, in the winter season, as it seeks to utilise the transmission infrastructure of a delayed regional power project and reduce its capacity payments burden. The country will hold the technical talks with Kyrgyzstan, Tajikistan, Kazakhstan, Uzbekistan and the World Bank in Dubai next month to discuss the tariff and the amount of power that can be sold to the region from October to April. Pakistan has a huge excess of electric power in the winter season, when…

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Power ministry recovers Rs55bn from delinquent consumers

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free-power

ISLAMABAD: The power ministry said on Tuesday, it had recovered Rs55 billion from electricity consumers that had either not paid their bills or were involved in theft, as part of a campaign to reduce losses and improve the sector’s performance. The ministry said it had collected Rs46 billion from Sept. 7 to Oct. 31 and another Rs9 billion in November so far, through detection charges and arrears recovery from delinquent consumers. Rashid Langrial, secretary of Power Division, said the November data includes detection charges and arrears recovery but does not…

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Economic confidence hits new low

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Ipsos survey reveals anxieties over inflation, unemployment and poverty levels ISLAMABAD: Only one in ten Pakistanis believes that the country is heading in the right direction, with economic problems ranking as the most worrying issues for them, reveals a new opinion poll. The outcomes of the survey reflect the overall poor conditions of the country, yet the number seeing the economy as very weak has declined to 60%, according to the Consumer Confidence Index Survey conducted by Ipsos – a market research firm – last month. The survey revealed that…

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