Year: 2023

Power industry calls for release of vital reports

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power-sector

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” report has emphasised the urgent need for computerised mechanisms that can generate timely and aggregated data on State-Owned Enterprises (SOEs). This is seen as vital for fast-tracking critical decision-making processes,…

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Oil falls as geopolitical risk premium wanes

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Oil price

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 1:32 p.m. EDT (1832 GMT). US West Texas Intermediate crude futures fell $2.21, or 2.7pc, to $80.26 a barrel. Both benchmarks were on track for weekly losses of more than…

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13th Fire Safety Convention and Awards-2023

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Fire-Safety

‘ 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 commitment in his remarks as the chief guest at the 13th Annual Fire Safety and Security Convention and Awards-2023 organised by the National Forum for Environment and Health (NFEH).Caretaker Local…

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Thar coal block electrified

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thar-coal-power

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 project was inaugurated by Sindh Engro Coal Mining Company CEO Amir Iqbal in a ceremony held at Thar Coal Block II, while Azhar Malik (Director site SECMC), Farhan Ansari (GM…

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$340b needed to fight climate change

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climate-change

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 in the balance. As the government gears up for the forthcoming COP meeting, it is confronted with the slow fulfilment of financial commitments made by multilateral and bilateral donors, worth…

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