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Month: January 2024

SolaX Power, a Pioneering Force in Solar and Storage Solutions, Successfully Executes its Initial Public Offering (IPO)

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SolaX-Power

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…

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Kidney Hill becomes first solar powered park in Karachi

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Kidney-Hill

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…

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Refiners cry foul as govt seeks fresh legal advice on upgrade policy

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Parco-board

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…

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Govt mulls slashing power tariff for industries

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power-tariff

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…

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HEC privatisation completed, IMS Engineering plans to upgrade and expand facility

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HEC-Project

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…

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NTDC Successfully Replaces Circuit Breaker at Guddu Switchyard

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ntdc-logo

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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S M Tanveer pledges FPCCI as truly representative apex body

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SM-Tanveer

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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Privatisation of power plants urged

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power-generation

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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