China-Pak JV aims to remove hurdles preventing transition to alternative fuels BEIJING: Pakistan’s Senate Chairman Muhammad Sadiq Sanjrani, along with a delegation, witnessed the signing of a landmark memorandum of understanding (MoU) in Beijing. The MoU, inked on October 25 between TGOOD, a leading Chinese company, and the REC Group of Pakistan, aims to promote environmentally friendly electric vehicles (EVs)…
Read More
ISLAMABAD: Minister for Energy Muhammad Ali on Thursday said the issue of circular debt in gas sector will be resolved everlastingly as many companies were leaving the country due to losses and circular debt. Addressing a press conference along with Minister for Information and Broadcasting Murtaza Solangi, he said the increase in gas tariffs would not affect 57 percent of…
Read More
ISLAMABAD: Pakistan has organized a roadshow in Dubai to attract investors for 600 MWp solar power PV project at Kot Addu (Muzaffargarh) with the support of the United States Agency for International Development (USAID) through Power Sector Improvement Activity (PSIA), well-informed sources told Business Recorder. The Government of Pakistan is pursuing the promotion and development of Alternative Renewable Energy (ARE) technologies…
Read More
Karachi, 26 October 2023 – The Overseas Investors Chamber of Commerce and Industry (OICCI) unveiled details for the Pakistan Climate Conference (PCC) 2023, scheduled to take place on November 1, 2023. This is the second consecutive year that the OICCI is organizing a multi-stakeholder dialog to propose collective solutions for Pakistan’s climate emergency. Starting from 2022, the Pakistan Climate Conference…
Read More
New York: Oil prices rose about one per cent on Wednesday on worries about the conflict in the Middle East escalating. Limiting gains, the United States reported increased crude stockpiles as demand worries stemming from gloomy economic prospects in Europe weigh. Brent futures rose $1.07, or 1.21pc, to $89.14 a barrel at 1:16 p.m. (1716 GMT). US West Texas Intermediate…
Read More
Recent deals a financial flex by US oil, gas firms that keep investing in fossil fuels HOUSTON: Chevron agreed to buy US rival Hess for $53 billion in stock in a deal that reflects top US energy companies drive for oil and gas assets in a world seeking lower-risk future fossil supplies and higher shareholder returns. The proposed deal amps…
Read More
ISLAMABAD: Power Division has tailored three options for country-wide four months (November 2023 to February 29, 2024) subsidy neutral Winter Package for industrial electricity consumers on incremental consumption, which may have some financial impact on other consumers, well informed sources told Business Recorder. In option 1, a relief from Rs 3.32 per unit to Rs 7.86 per unit, in option 2…
Read More
ISLAMABAD: The caretaker government has maintained that it recovered Rs14 billion on account of electricity theft since the beginning of the campaign till September 30, 2023. Caretaker Prime Minister Anwaar-ul-Haq Kakar, was informed about this during a meeting presided over by him on Wednesday to review progress made so far against electricity theft in the country. In the meeting, Kakar…
Read More
ISLAMABAD: The privately-run K-Electric company has been getting the highest Rs169 billion in subsidy from the federal government as compared to the state-run Power Distribution Companies (Discos), as per the Ministry of Energy (Power Division) statistics. The net required subsidy of K-Electric is Rs169 billion and is being fulfilled by the federal government budget. Among the Discos, three are Islamabad…
Read More
Minister of Energy Mr. Muhammad Ali attended the event of “40 Years of Friendship-Past, Present and Future between Republic of Korea and Pakistan” as chief guest today at Marriot Hotel Islamabad. Followed by the address of Korean Ambassador to Pakistan Mr. Suh Sangpyo and the introductory note, the minister delivered a keynote address at the event. He expressed his gratitude…
Read More
