On January 3, 2024, SolaX Power, an industry trailblazer in the solar and storage sector, is pleased to announce the successful culmination of its Initial Public Offering (IPO) and subsequent listing on the Shanghai Stock Exchange STAR Market, trading under the stock code 688717. This notable accomplishment marks a pivotal milestone in the company’s decade-long trajectory. Founded in 2012, SolaX…
Read MoreDay: January 3, 2024
Kidney Hill becomes first solar powered park in Karachi
Kidney Hill has become the first-ever park in Karachi which will use solar panel-generated electricity.Solar panels with a combined capacity of 100 kilowatts (KWs) have been installed in the park which will generate fuel-free energy. The project is aimed at coping with energy woes and producing environmentally friendly energy.Mayor Karachi Murtaza Wahab shared a post on his X handle saying…
Read MoreRefiners cry foul as govt seeks fresh legal advice on upgrade policy
ISLAMABAD: Pakistan’s oil refining sector is unhappy with the government’s move to hire a new local law firm to review the implementation of a policy and Joint Escrow Account Agreement aimed at upgrading the country’s ageing refineries, saying it will cause further delays and uncertainty. The Petroleum Division, in a letter dated Dec. 25, 2023, told the local refineries that…
Read MoreGovt mulls slashing power tariff for industries
ISLAMABAD: Caretaker Federal Minister for Energy Power and Petroleum Muhammad Ali on Tuesday said the government was mulling to take a major step and cut electricity tariff for industries. Speaking to Geo News, Ali said the caretaker government was going to accomplish a couple of big tasks as they had five to six weeks left before the elected government could…
Read MoreHEC privatisation completed, IMS Engineering plans to upgrade and expand facility
ISLAMABAD: The government has concluded the privatisation of the Heavy Electrical Complex (HEC) after handing over the share certificates to the buyer M/S IMS Engineering (Pvt) Limited on Tuesday. In a final settlement of the Rs1.4 billion transaction, the buyer IMS Engineering has not only made full payment but has also taken over additional liabilities of Rs752 million payable to…
Read MorePetroleum consumption falls 15pc
KARACHI: The first half of FY24 ended on a dismal note for the petroleum sector due to a 15 per cent drop in sales of petroleum products to 7.686 million tonnes from nine million tonnes in the same period last fiscal year. Petrol sales posted a drop of 7pc to 3.57m tonnes during the July-December period from 3.83m tonnes in…
Read MoreNTDC Successfully Replaces Circuit Breaker at Guddu Switchyard
The technical teams at National Transmission and Despatch Company Limited (NTDC) have accomplished the replacement of a damaged circuit breaker at the 500 kV Guddu Switchyard. On the direction of NTDC management, additional staff was deployed to ensure the swift completion of replacement works. Moreover, NTDC has also successfully energized the 500kV Guddu-Muzaffargarh transmission line. The NTDC spokesman said that…
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