KARACHI: Massive gas tariff hike in addition to rising power rates would cause a steep rise in production cost resulting in the closure of small- and medium-sized units, making exports uncompetitive and rendering thousands of employees jobless. Just a day ahead of the Federal Cabinet meeting last Monday, Caretaker Minister for Energy, Power and Petroleum Muhammad Ali had assured the members of the Karachi…
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ISLAMABAD: The Executive Committee (EC) of the Special Investment Facilitation Council (SIFC) has directed the Power Division that all hydel projects at the LoI stage from various provinces including Kalam Asrit 238 MW, Asrit Kedam 229 MW and 470 MW Lower Spatgah, be reviewed to streamline their issues and policy parameters in the working group. Well-informed sources told Business Recorder…
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Solar energy costs have fallen 90 per cent over the last decade, while new discoveries have seen efficiency rates rise More than 30 million homes in Europe could meet all their energy needs using rooftop solar panels alone, according to a new study. Researchers from the Karlsruhe Institute of Technology in Germany found that more than 50 per cent of Europe’s 41…
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ISLAMABAD: Top mandarins of the Petroleum Division on Friday told the visiting IMF mission that the recent hike in gas tariff will help the government mop up revenue of Rs980 billion in eight months, and this is how the new flow in existing circular debt would end. The relevant authorities of the Petroleum Division held technical level talks with the…
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ISLAMABAD: A three-member Ministerial Committee has asked Privatisation Division to seek advice from the Ministry of Law and Justice on whether any change in shareholding of KES Power requires National Security Certificate (NSC), well informed sources told Business Reorder. The ministerial committee, composed of Minister for Energy (chair), Minister for Privatisation, and Minister for Law & Justice, has been assigned to…
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Say it is crucial for decision-making, including impending privatisation of DISCOs ISLAMABAD: Frustration is growing among power industry stakeholders due to significant delays in the release of crucial reports by the power regulator, which are essential for informed decision-making. In particular, the absence of timely data is hindering the effective functioning of the sector. The World Bank’s “Public Expenditure Review”…
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LONDON: Oil prices fell more than $2 on Friday, on track for a weekly loss as supply concerns driven by Middle East tensions eased, while jobs data raised expectations the US Federal Reserve could be done hiking interest rates in the biggest oil consuming economy. Brent crude futures were down $2.03, or 2.4 per cent, to $83.82 a barrel at…
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‘ Sindh govt stands fully committed to beefing up firefighting systems in Karachi to protect lives and assets ’ The Caretaker Sindh government is fully committed to supporting the Karachi Metropolitan Corporation in strengthening firefighting systems in Karachi to save its numerous high-rise commercial and residential buildings from the fire emergency.Interim Sindh Local Government Minister, Muhammad Mubeen Jumani, expressed this…
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KARACHI: The Thar Foundation recently marked a significant milestone with the inauguration of the Village Electrification Project (VEP), set to illuminate households in Thar Coal Block II through the installation of solar systems. As part of the initiative, a total of 1,035 households are poised to benefit, painting a promising picture of progress and development for the region’s villages. The…
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Akhtar says plan prepared to tackle issues, enable PSX to raise green financing KARACHI: Pakistan faces a monumental task in its battle against climate change, requiring a massive investment of $340 billion over the next seven years to confront the escalating threats of rising temperatures and sea levels. The nation’s fate, as well as its exports to the world, hangs…
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