Caretaker Minister for Energy Muhammad Ali on Thursday said gas prices in the country had consistently been a matter of concern, underlining that forthcoming announcements would detail the impending changes in the price of the commodity. The minister made these remarks during a visit to the Lahore Chamber of Commerce and Industry (LCCI). Caretaker Federal Minister for Commerce, Industries, and…
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TORONTO: Barrick Gold’s top executive says it’s not just Saudi Arabia interested in his company’s massive copper project in Pakistan — some major mining companies are, too, Bloomberg News reported. The Canadian miner’s $7-billion Reko Diq project in Balochistan — a region bordering Afghanistan and Iran — boasts one of the world’s largest copper deposits and could become a major…
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ISLAMABAD: Pakistan is seeking to revive a stalled $200 million Qatari investment in a liquefied natural gas (LNG) terminal project that has faced bureaucratic hurdles for five years over the allocation of pipeline capacity, officials said on Thursday. The Energas terminal, which is to be operated on a business-to-business (BtB) model with no government guarantee on RLNG takeoff, will have…
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ISLAMABAD: Coal power plants and coal suppliers on Thursday raised questions on NEPRA’s proposed revision in coal pricing mechanism without taking them on board, making irrational deductions, and the exchange rate that is hitting them as their invoices are not being cleared by the concerned agency. The NEPRA Authority, comprising Chairman Waseem Mukhtar, Member (Tariff and Finance), Mathar Niaz Rana,…
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ISLAMABAD: In a landmark development to address critical exploration and production (E&P) issues, the Oil & Gas Development Company Limited (OGDCL) and the National University of Sciences and Technology (NUST) have forged a strategic partnership to drive innovation, research, and educational excellence in Pakistan’s energy sector. OGDCL and NUST have signed a Document of Understanding (DoU), ushering in new opportunities…
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Islamabad, 20 September 2023: Pakistan-German Renewable Energy Forum (PGREF) and Benchmark School, in collaboration with the Goethe Institute, organised an event for the inauguration of Benchmark School as a new Solar School. The event marked the official launch of the project at the school and its integration into the “Solar Schools” network, highlighting the successful installation of a solar system…
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ISLAMABAD: The government appears to be highly concerned about the runaway circular debt that amounts to a staggering Rs2.3 trillion but habitual defaulters have caused no less damage to the power sector as they owe over Rs2 trillion. These defaulters have widespread influence and are still receiving electricity from power distribution companies (DISCOs), though they have not paid bills since…
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ISLAMABAD: The Federal Board of Revenue (FBR) has informed the Senate Standing Committee on Finance that over Rs37 billion over-invoicing scam on import of solar panels would be dealt with under the Anti-Money Laundering Act (AML). The meeting featured a briefing by the FBR chairman and his team, shedding light on reports of massive money laundering by solar panel importers.…
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ISLAMABAD: The government has once again transferred National Energy Efficiency & Conservation Authority (NEECA) to Power Division from Ministry of Science and Technology due to ‘pressure’ from the World Bank. According to Cabinet Division, NECCA shall continue to be reflected against business of the Power Division in schedule–II of the Rules to Power Division. In September last year, the then…
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ISLAMABAD: The ex-Wapda distribution companies (XWDiscos) have sought the National Electric Power Regulatory Authority’s (Nepra) green light for collection of Rs1.829/unit additional charges from consumers in October. The request is in relation to the monthly Fuel Charges Adjustment (FCA) for August. Meanwhile, Rashid Mahmood Langrial, Power Division Secretary, shared updates on the ongoing power sector’s anti-theft campaign that started on…
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