The director general of trade organisations (DGTO) under the Ministry of Commerce has revoked the licence of the Pakistan Solar Association (PSA) citing irregularities and significant rule violations. In response, the DGTO has also imposed fines and barred key PSA members from joining other trade organisations. The decision to revoke the licence stemmed from allegations of the PSA’s involvement in…
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Islamabad has assured the International Monetary Fund (IMF) of timely electricity price increases and the recovery of pending generation costs exceeding Rs210 billion, signaling a move to enhance the financial viability of the power sector. This commitment, made during ongoing talks for a $1.1 billion loan tranche release, includes potential privatisation of power distribution companies (DISCOs) under concession agreements, marking…
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Aga Khan University (AKU) has embarked on its largest solar photovoltaic (PV) project to date, partnering with Exide Pakistan Limited for the installation at its Stadium Road Campus in Karachi, Pakistan. This initiative is part of AKU’s commitment to achieving net-zero emissions by 2030. The signing ceremony to kick off the project highlighted the importance of renewable energy in reducing…
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The Khyber Pakhtunkhwa government has announced its decision to launch the ‘Billion Tree Plus‘ project aimed at increasing forest cover in the province. This initiative was discussed in a meeting chaired by Chief Minister Ali Amin Khan Gandapur and attended by relevant officials, including Forest Minister Fazal Hakim and forest department representatives. During the meeting, officials briefed participants on various…
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Federal government’s decision to maintain the price of petrol Decision to reduce the price of diesel by 1 rupee 77 paise per liter The notification will be applicable from March 16 to March 31
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LONDON: The International Energy Agency on Thursday raised its view on 2024 oil demand growth for a fourth time since November as Houthi attacks disrupt Red Sea shipping, though it remains far less bullish than producer group OPEC. The Organization of the Petroleum-Exporting Countries (OPEC) and the IEA, which represents industrialised countries, have clashed in recent years over issues such…
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After legal disputes, French firms seek collaboration to address looming gas shortage ISLAMABAD: France is poised to re-enter Pakistan’s Liquefied natural gas (LNG) export market after an absence of over a decade, following a legal dispute that led to a French company withdrawing from the sector. During the previous Pakistan Peoples’ Party (PPP) administration, a contract for an LNG project…
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Separate meetings of finance minister, SBP governor, energy minister also scheduled with IMF team The introductory review meeting between Pakistan and the visiting delegation of the International Monetary Fund (IMF) has concluded at the Finance Ministry. The visiting IMF mission was headed by Nathan Porter, and further talks between the two sides will be held in a local hotel. According to sources,…
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ISLAMABAD: The Sui Southern Gas Company Ltd (SSGCL) on Thursday accused ‘front men’ of Liquefied Petroleum Gas (LPG) market operators of making complaints before the government institutions to block state-owned entities’ retail business for creating shortages and black marketing the product for personal gains.“Most of the complainants are self-proclaimed stakeholders and they themselves do not have any stakes in the…
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ISLAMABAD: Iranian Ambassador Dr Reza Amiri Moghadam said on Thursday that a Free Trade Agreement (FTA) is likely to be finalised in the upcoming visit of Iranian President Ebrahim Raisi to Pakistan.Addressing the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI), the Iranian envoy said the FTA would increase mutual trade and several bilateral…
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