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Month: February 2024

Balochistan installs modern solar facilities

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solar-panel

Province has solar energy potential of 2,900 gigawatts ISLAMABAD: Balochistan Caretaker Chief Minister Mir Ali Mardan Khan Domki has inaugurated an extensive solarisation project to shift various public department buildings including educational institutions, healthcare facilities and civic departments onto renewable energy that will provide clean, affordable and uninterrupted power supply to public facilities in the province. The Balochistan government, with…

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Govt to permit re-export of oil by foreign suppliers

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oil-and-gas

Move aims to streamline trade processes, involves amendments to Customs Rules, 2001 ISLAMABAD: The federal government has announced plans to permit the import, local sale, and re-export of petroleum products facilitated by foreign suppliers. This decision, aimed at streamlining trade processes, involves amendments to the Customs Rules, 2001, introducing the Customs Bonded Facilitation Rules, 2024. The Federal Board of Revenue…

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Costly energy diminishes consumers’ purchasing power, warns Nepra

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Nepra

ISLAMABAD: Amid ongoing engagement with the International Monetary Fund (IMF) for further electricity tariff reforms involving increases for residential and reductions for industrial consumers, the country’s power sector regulator, Nepra, has warned the government that its compulsions to pass on full costs coupled with historically highest inflationary spree in the country was diminishing the purchasing capacity of the consumers. Last…

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Alarmed by internet restrictions, US slams poll-related violence

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poll-related

WASHINGTON: The US State Department on Thursday expressed concern over election-related violence and restrictions on internet and cellular access in Pakistan on the polling day. At a daily news briefing, Vedant Patel, the principal deputy spokesperson, also underscored the importance of a transparent and unrestricted electoral process. When asked if the United States would accept the results of a tainted…

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Wind power giants find little shelter from sector troubles

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wind-energy

FRANKFURT/COPENHAGEN, Feb 7 (Reuters) – The world’s three biggest wind power groups – Siemens Energy (ENR1n.DE), opens new tab, Orsted and Vestas (VWS.CO), opens new tab – on Wednesday gave a sober view of the year ahead for an industry buffeted by project delays, equipment problems and inflation. Siemens Energy, the world’s largest maker of offshore wind turbines, expects a 2024 loss before…

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Power firms’ performance below par despite high tariffs: Nepra

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power-subsidy

ISLAMABAD: True to general perception, the country’s power generation plants and transmission systems in the public and private sectors are below par in terms of their respective performance standards affecting the quality of service despite higher consumer tariffs, according to National Electric Power Regulatory Authority (Nepra). According to the regulator’s Performance Evaluation Reports (PERs) of power plants for 2022-23, the…

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Saudi firm keen to invest in renewable energy sector

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Global-power

ISLAMABAD: Saudi company ACWA Power is reportedly ready to offer low tariff for solar project of 600 MWp subject to minimum project risk in Pakistan as it has installed solar projects at Cents 2 per unit in UAE and Oman, well informed sources told Business Recorder. The ACWA Power has been interested to invest in the renewable energy sector in Pakistan…

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Hesco, Gepco privatisation okayed

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Hesco-Gepco

CCoP increases Privatisation Commission budget by Rs2.2b or 175% ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) on Wednesday approved handing over the management control of the two loss-making power distribution companies to the private sector aimed at stemming their losses and improving efficiency. Headed by Privatisation Minister Fawad Hasan Fawad, the CCoP also approved revising the budget of the Privatisation…

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Water scarcity sparks dam project scrutiny

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neelum-jhelum

Ministry of Water Resources once again addresses crisis caused by Neelum-Jhelum project ISLAMABAD: The Ministry of Water Resources (MoWR) has once again addressed the issue of water shortage caused in the Azad Jammu and Kashmir’s (AJK) capital after the completion of the 969 MW Neelum Jhelum Hydropower Project (NJHPP) in a recent meeting of the Cabinet Committee on Energy. The…

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Early results spring big surprises

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Election-Commission

• PTI claims it can form govt in centre, two provinces• Barring Karachi, PPP seems set to retain its hold in Sindh• PML-N doing better in central Punjab, some other areas ISLAMABAD: Despite an underlying ‘distrust’ in the electoral exercise, millions queued up to vote in Thursday’s long-overdue elections. However, voters’ hopes of seeing some results were left unfulfilled till…

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