ISLAMABAD: Despite massive repetitive price shocks to consumers and countrywide drive against theft and billing defaults, the World Bank has found power and gas circular debts increasing by an average of Rs135 billion to Rs5.5 trillion (about 5.1pc of GDP) by end-January this year and wants the government to do more to recover true cost of supply. “The government has…
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Enercap Holdings is pushing the adoption of innovative non-chemical batteries that it has designed to drive sustainable energy storage solutions. Headquartered in Dubai, Enercap has long been at the forefront of technological advancements in the energy industry, and its recent innovations marks a major milestone in the company’s journey towards a more sustainable future. Unlike traditional lithium-ion batteries that rely on chemical processes, Enercap’s…
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Government’s Special Initiative to Provide Off-Grid Power Solutions to 20 Backward Districts The Ministry of Planning, Development, and Special Initiatives has launched the “Special Development Initiative for Poor Districts of Pakistan,” targeting 20 underdeveloped districts across the country. These districts, selected based on high Multidimensional Poverty Index (MPI) scores, span Balochistan, Sindh, Khyber-Pakhtunkhwa, and Punjab. The initiative aims to provide…
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After the announcement of a finalized deal between Shell Pakistan Ltd’s parent company and a Saudi Arabian group, local investors have withdrawn their plans to acquire a stake in the company. Pakistan Refinery Ltd (PRL) and Air Link Communication Ltd, two interested local investors, officially communicated their withdrawal to the Pakistan Stock Exchange (PSX), marking the end of their bid…
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Despite efforts to address billing defaults and theft, Pakistan’s power and gas circular debts have surged, reaching Rs5.5 trillion by January, as reported by the World Bank. The bank emphasizes the need for more extensive reforms to align tariffs with the true cost of supply. Structural issues, subsidies, and inefficiencies have led to significant deficits, affecting supply reliability. The World…
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Devcom-Pakistan Centre for Geopolitical Studies Executive Director Munir Ahmed said at a webinar that Pakistan’s Failure to advance gas pipeline projects has sparked national and international concerns. Iran sleeves up to drag Pakistan into the Internal Court of Justice (ICJ) by September 2024 for a $18 billion penalty. TAPI dusting the shelves for three year after a comprehensive feasibility report…
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Minister for Power Sardar Awais Ahmad Khan, engaged in a dialogue with a delegation from the All Pakistan Textile Mills Association (APTMA). During this meeting, APTMA officials expressed their concerns regarding the dwindling exports within the textile sector, which has led to rising issues like unemployment and poverty. In response, the Minister reassured the delegation of the Government’s unwavering commitment…
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KARACHI (April 3): The Chief Minister of Sindh, Syed Murad Ali Shah, met with a team from the World Bank, led by Country Director Mr. Najy Benhassine and discussed the progress of 13 active projects worth $3.2 billion that are being assisted by the World Bank.So far, 40 per cent or $1.33 billion has been disbursed and they agreed to…
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Qatar is backing up its massive LNG expansion plans with new orders to charter dozens of new ships as the tiny Gulf gas producer aims to solidify its dominance in the global LNG export market. Last year, the United States overtook Qatar as the world’s largest LNG exporter, but Qatar has a huge expansion program underway to boost its…
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In Karachi, Pakistan Refinery Limited (PRL) has announced its intention to sign a supplemental agreement with the Oil and Gas Regulatory Authority (OGRA) soon. This agreement marks a significant step towards transformative upgrades and expansions within the company, aimed at doubling its refining capacity from 50,000 barrels per day (bpd) to 100,000 bpd. The agreement will also enable PRL to…
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