Patron In-Chief of United Business Group (UBG) S M Tanveer extends warm congratulations to all UBG members across Pakistan for the monumental triumph achieved in the FPCCI Elections 2024-25, marked by a record-breaking historical margin. This victory stands as a testament to the unwavering commitment, tireless efforts, and wholehearted dedication of UBG members who tirelessly worked day and night to…
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KARACHI: Pakistan exported a record amount of fuel oil in the first half of the current financial year, surpassing the total exports of the previous year, as domestic demand plunged due to a shift to cleaner energy sources, data from the oil sector showed on Monday. The country exported around 600,000 tonnes of fuel oil from July to December 2023,…
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Policymakers seek to curb circular debt, note challenges in way of sell-off ISLAMABAD: As a major portion of Pakistan’s sovereign debt comprises loans of power sector, policymakers have stressed the importance of privatising state-owned electricity producers to rein in the runaway circular debt. They voiced serious concerns that a considerable amount of foreign loans were outstanding against the government power…
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ISLAMABAD: Ministry of Planning, Development and Special Initiatives (M/o PD&SI) has proposed increase in benchmark competitive tariff of solar IPPs to Cents 5/kWh from Cents 3.4108/kWh determined by Nepra to replace costlier thermal power through large scale solar IPPs, well informed sources told Business Recorder. According to M/o PD&SI, power generation capacity of Pakistan has significantly increased in the last…
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WASHINGTON/KARACHI: The International Monetary Fund (IMF) has included Pakistan on its Executive Board agenda for January 11, as reported on its updated website. During this meeting, the board is set to deliberate and potentially grant final approval for the disbursement of the next $700 million tranche under the existing $3 billion Stand-By Arrangement (SBA). According to the IMF Executive Board…
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KARACHI: Pakistan exported a record amount of fuel oil in the first half of the current financial year, surpassing the total exports of the previous year, as domestic demand plunged due to a shift to cleaner energy sources, data from the oil sector showed on Monday. The country exported around 600,000 tonnes of fuel oil from July to December 2023,…
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ISLAMABAD: The entire country is facing hours of load shedding due to massive shortfall in generation owing to frequent tripping in South Punjab and faults in Guddu Thermal Power House. According to Power Division, due to dense fog, NTDC faced tripping of 500 kV and 220 kV Transmission Lines in the vicinity of Guddu. “One of the poles of 500…
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ISLAMABAD: National Transmission and Despatch Company (NTDC) has supported conversion of M/s Lalpir (LP) and Pakgen (PG) into Thar coal, saying that operating LP and PG would certainly improve voltage stability and increase short-circuit power in the Mepco region. In a letter to Managing Director, PPIB, Deputy Managing Director- System Operator (SO), Ali Zain Banatwala stated that the technical and…
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