KARACHI: The Board of Directors of Sui Southern Gas Company (SSGC) has decided that Imran Maniar will continue to serve as MD/CEO until his reappointment or the appointment of his successor by the Company Board. The SSGC board took this decision in terms of Section 187/3 of the Companies Act, 2017, the Companies sources said.
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ISLAMABAD: The Cabinet Committee on Energy (CCoE) has directed the Power Division to initiate separate case for engaging with remaining Independent Power Producers (IPPs), including those dealing with hydel power that did not sign the MoUs, official sources told Business Recorder. On January 26, 2024, the CCoE was informed that the Power Division moved a summary titled Implementation of Master Agreements and PPA amendments with Wind Power Producers (WPPs) of May 25, 2023. CCoE considered the summary and directed Power Division to chalk out a new strategy to continue engaging 14…
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ISLAMABAD: Chinese company M/s China Three Gorges South Asia Investment Ltd (CSAIL) has reportedly expressed serious concern over restrictions on movement of its employees working on 720 MW Karot hydropower project due to security threat, well-informed sources told Business Recorder. SCAIL, is an investment holding company formed by China Three Gorges Corporation, which is the world’s largest clean energy company with power generation capacity of over 140,000 MW. CSAIL is currently operating and developing six renewable energy projects in Pakistan, with total installed capacity of over 2,600 MW having more than…
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SINGAPORE: Oil prices rose in early trade on Friday following a decision by OPEC+ to keep its oil output policy unchanged, though benchmarks were headed for weekly losses amid unsubstantiated reports of a ceasefire between Israel and Hamas. Brent crude futures climbed 37 cents, or 0.5%, to $79.07 a barrel at 0415 GMT, while U.S. West Texas Intermediate crude futures gained 30 cents, or 0.4%, to $74.12 a barrel. On Thursday, two OPEC+ sources said the group has kept its oil output policy unchanged, and will decide in March whether…
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ISLAMABAD: The Central Development Working Party (CDWP) has cleared four development projects with a total cost of Rs138.66 billion. The CDWP approved one development project with a cost of Rs2 billion and recommended three projects valued atRs136.660 billion to the Executive Committee of the National Economic Council (ECNEC) for further consideration. The CDWP met with Deputy Chairman Planning Commission Mohammad Jehanzeb Khan in the chair at P-Block Secretariat on Thursday. CDWP clears four uplift projects worth Rs36.22bn Secretary Planning Awais Manzur Sumra, senior officials from the Planning Commission and federal…
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Nizam Energy and its Partner Scatec Solar are proud to announce the start of Commercial Operations at its landmark 150MWp Solar Power Plant in Sukkur, Pakistan. The power plants will generate approximately 300 GWh annually under 25-year power purchase agreements with Central Power Purchasing Agency of Pakistan (CPPA). The Solar Power Plant is located in the city of Sukkur, and will provide clean energy to the national grid in Pakistan. We would like to take the opportunity to thank our long standing partner Scatec ASA, our Consortium of Banks, Government…
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Independents may play key role if no party secures decisive majority ISLAMABAD: The next general elections scheduled on the 8th of this month are poised to be a pivotal chapter in Pakistan’s political history, as they are marked by multifaceted challenges and evolving dynamics. As the nation grapples with its worst economic crisis, security concerns from militant groups, and disillusioned youth, the political stage is set for a complex and intriguing electoral battle. The security challenges are significant, with the Tehreek-e-Taliban Pakistan (TTP) and Da’esh posing serious threats, especially in…
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KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while rejecting the unexpected hike in price of petroleum, stated that although a hike somewhere in between Rs5 to Rs9 per liter was being expected as prices of petroleum products have increased in the international market but it was highly unfair to blatantly raise petrol price locally by Rs13.55 per liter which would terribly hit all segments of society and intensify the hardships particularly for general public, besides terribly affecting the industrial production as the cost of doing…
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Attributed to elevated reference fuel cost, reduced hydropower availability in Dec 2023 ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has deferred its decision regarding the request from power distribution companies (DISCOs) to raise the electricity price by Rs5.6194 per unit, citing fuel charges adjustment (FCA) for December 2023. Earlier, the Central Power Purchasing Agency (CPPA), at the behest of DISCOs, submitted an application to NEPRA seeking an increase in electricity prices under the FCA for December 2023. NEPRA conducted a public hearing on January 31, 2023 (Wednesday), primarily focusing…
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ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has sought fixed interest/mark-up rate on Cash Development Loans (CDLs) for three solar panel PV projects to be established in South Punjab, official sources told Business Recorder. The PPIB, in a letter to Power Division referred to the acquisition of land for the development of large utility-scale solar PV projects under the Framework Guidelines for fast track solar PV initiative 2022, particularly substitution of expensive imported fossil fuels with solar PV energy. According to the PPIB, framework guidelines stipulate that the land for…
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