EXCLUSIVE: Assessing the Iran-Pakistan gas pipeline: A solution to Pakistan’s energy crisis?

iran-gas-pipeline

Officials weigh the impact of the Iran-Pakistan gas pipeline on national energy security amidst mounting US pressure to abandon the plan The rooftop of Vaqar Zakaria’s home in Islamabad is strewn with photovoltaic panels that he says have lowered his electricity bill to virtually nothing. This is countered by the stark contrast in his rising gas costs. “From a steady…

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Seven countries generate 100% of their electricity from renewable energy

solar-panel

Albania, Bhutan, Nepal, Paraguay, Iceland, Ethiopia, and the Democratic Republic of Congo have each generated over 99.7% of their electricity from renewables Seven countries currently generate almost all of their electricity from renewable energy sources, according to newly compiled figures. Albania, Bhutan, Nepal, Paraguay, Iceland, Ethiopia, and the Democratic Republic of Congo have each generated over 99.7% of their consumed…

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10-year solar panel manufacturing policy finalised

solar-panel

ISLAMABAD: The federal government has finalised a draft of 10 years ‘Solar Panel Local Manufacturing and Allied Equipment’ policy envisaging incentives to the manufactures, including imposition of tariff on import of finished goods for the period to promote localisation, well-informed sources told Business Recorder. Sharing the details, sources said, the Special Investment Facilitation Council (SIFC) in its 5th Apex Committee meeting…

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Payments issue with CPPA-G: Shanghai Electric lodges complaint with PM

Shanghai-Electric

ISLAMABAD: Chinese power firm Shanghai Electric has reportedly lodged a complaint against Central Power Purchasing Agency-Guaranteed (CPPA-G) to the Prime Minister for not making payments on time, well-informed sources told Business Recorder. Sharing the details, sources said M/s Thar Coal Block-1 Power Generation Company Pvt Ltd has informed Special Investment Facilitation Council (SIFC) that the company has achieved Commercial Operation Date…

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Pakistan aims to agree outline of new IMF loan in May, finance minister says

pak-imf

Pakistan hopes to agree the contours of a new International Monetary Fund (IMF) loan in May, Finance Minister Muhammad Aurangzeb told Reuters, and has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets. Pakistan’s current $3 billion arrangement with the Fund runs out in late April and the government is seeking a longer and bigger…

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Ogra, oil industry propose phased deregulation of fuel prices

Petroleum-prices

ISLAMABAD: Amid warnings about supply chain challenges and ret­ail prices increasing by up to Rs27 per litre in Gilgit-Baltistan, the major oil sector stakeholders — the regulator and the industry — have proposed gradual deregulation of petroleum prices over a period of two years to avoid the political pressure associated with pricing. The government has also been advised to end…

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Patrind AJK Hydro Power Project Secures Landmark Arbitration Victory

Karot-Hydropower

In a significant legal development, RIAA Barker Gillette, in collaboration with a leading English Law Firm, has achieved a decisive victory in arbitration proceedings against the Government of Pakistan (GOP) on behalf of Star Hydro Power Limited (SHPL). The final award, issued by the London Court of International Arbitration (LCIA), mandates the GOP to pay substantial amounts to SHPL within…

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Longi Solar and Netline Group Partner to Launch Green Hydrogen Technology in Pakistan

Longi-1

Longi Solar, a global leader in renewable energy technology, and Netline Group of Companies, a premier renewable energy solutions provider in Pakistan, have signed a groundbreaking Memorandum of Understanding (MOU) to introduce advanced green hydrogen technology in Pakistan. This strategic partnership, announced in Abu Dhabi on April 17, 2024, marks a significant step towards promoting sustainable energy solutions in the…

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Saudi Arabia Nears $1 Billion Investment Deal in Reko Diq Mining Project

Reko-Diq

Saudi Arabia is edging closer to finalizing a potential deal to acquire a minority stake in the Reko Diq gold and copper mining project, according to sources familiar with the matter, as reported by Bloomberg. Manara Minerals Investment Company, backed by the Saudi sovereign wealth fund, is in discussions to invest a substantial sum of at least $1 billion into…

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Government Acknowledges Systemic Overbilling by Power Distribution Companies

power-sector

In a significant admission, the government has acknowledged the recurring issue of overbilling by power distribution companies (Discos), highlighting a lack of awareness about the extent of faulty meters within the system. Power Minister Awais Ahmad Khan Leghari, in a recent news conference, pledged decisive action against complicit staff and officers while hinting at potential rate reviews for various consumer…

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