ISLAMABAD: The United States Agency for International Development (USAID) on Monday signed a memorandum of understanding (MoU) with three Pakistani firms aimed at raising $53 million foreign direct investment within the next 9-12 months. The MoU was signed during the “Investment and Climate Summit”, organised by the USAID under its Investment Promotion Activity (IPA). The three Pakistani firms with whom…
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ISLAMABAD: The incumbent caretaker government has discontinued ongoing negotiations with 14 Wind Power Plants (WPPs) as they are unwilling to amend their power purchasing agreements (PPAs), negating agreements they inked with the government of the day. “The government will not pay Rs20.728 billion which was earlier earmarked for 14 WPPs but they didn’t show respect to the agreements they initialed…
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KARACHI: The Oil and Gas Regulatory Authority (OGRA) has granted a licence to SSGC Alternate Energy (Private) Limited (SSGC-AE) to undertake the regulated activity of the sale of natural gas/RLNG to its customers in accordance with the terms and conditions given in the licence. SSGC announces 48-hour gas holiday for all industries The SSGC Alternate Energy (Private) Limited is a…
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ISLAMABAD: K-Electric (KE) has reportedly linked establishment of infrastructure of power evacuation from category–III wind projects with approval of investment plan from National Electric Power Regulatory Authority (Nepra), well informed sources told Business Recorder. KE’s Chief Strategy Officer Shahab Qader Khan in a letter to Director Wind/ Solar/ Thermal PPIB, stated that the power utility company is actively pursuing the integration…
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ISLAMABAD: Caretaker Prime Minister Anwar-ul-Haq Kakar has allowed Power Division to seek approval of a summary on draft G2G framework agreements with Saudi Arabia, United Arab Emirates (UAE), Qatar and Kuwait, etc, from the federal cabinet through circulation, well-informed sources told Business Recorder. Sharing the details, sources said the cabinet on October 18, 2022 approved several interventions under the Framework Guidelines…
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ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar directed the Ministry of Energy to prepare and submit a comprehensive and sustainable plan after consultation with the Finance Ministry to reduce the circular debt of power and gas sectors. The caretaker prime minister directed this during a review meeting he presided over on the action plan to reduce the circular debt in the…
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BEIJING / ISLAMABAD: China has said it is ready to work with Pakistan to upgrade the China-Pakistan Economic Corridor (CPEC) and accelerate the building of an even closer China-Pakistan community with a shared future in the new era. Separately, caretaker Prime Minister Anwaarul Haq Kakar said after having achieved the first phase of CPEC, Pakistan is benefiting from its early…
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