At a critical juncture when there is a worldwide movement towards rapidly shifting from fossil fuels to green energy sources to sustainably power homes, factories, and markets; a conference took place in Islamabad at the end of May 2024 to delve into the history, current state, and future prospects of the Pakistani oil and gas sectors. The Monthly Energy Update,…
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The Neelum Jhelum Hydropower Project (NJHPP), with a capacity of 969 MW, has been completely shut down for over two months. Despite this, the root cause of the problem has not yet been identified. According to a report by Dawn newspaper, officials familiar with the situation have stated that the issue appears to be more significant than initially anticipated. The…
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Karachi: Sindh Energy Minister Syed Nasir Hussain Shah chaired a meeting of the Sindh Transmission and Dispatch Company (STDC) board at the Energy Department’s committee room. The meeting ratified the decisions of the previous session and introduced several new significant resolutions. During the meeting, it was decided that an MoU would be approved with Go Energy Private Limited, which aims…
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KARACHI: President Karachi Chamber of Commerce and Industry Iftikhar Ahmed Sheikh has appreciated the government for announcing the much-awaited status of Industry to warehouses and logistics which was widely being demanded by the business and industrial community.In a statement issued, President KCCI said that the status of industry for warehouses and logistics was an outcome of a series of meetings…
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National Bank of Pakistan (NBP) President, Mr. Rehmat Ali Hasnie, participated in the Pakistan China Business Conference held in Shenzhen, China. Mr. Hasnie was among the delegation accompanying Prime Minister Shehbaz Sharif who on Tuesday landed in China’s Shenzhen on his official visit to the country, as Islamabad aims to advance bilateral trade and economic ties with Beijing and attract…
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ISLAMABAD: The government is expected to announce a further reduction in the prices of petroleum products by Rs12 per litre from June 15, following a declining trend in global oil rates. At the beginning of this month, the government already reduced the prices of petrol and high-speed diesel (HSD) by Rs4.74 and Rs3.84 per litre, respectively. Consequently, the price of…
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ISLAMABAD: Tempers flared in the National Assembly on Friday as PPP lawmakers fiercely criticized K-Electric and the federal government over the ongoing power crisis in Karachi. PPP members challenged the government, asserting they would resign if they failed to prove claims of 16 to 20 hours of daily power outages in the city. They accused the government of downplaying the…
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ISLAMABAD: The Prime Minister’s Office has called the attention of the Petroleum Division to the mounting exchange rate loss of Rs26 billion faced by the oil industry, along with Rs65 billion in unrecovered sales tax, which is severely impacting cash flows. In a memorandum, the Prime Minister’s Office highlighted concerns raised by the Oil Marketing Association of Pakistan’s chairman regarding…
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LAHORE: The Environment Protection and Climate Change Department (EPCCD) is developing a digital registry to map and monitor plastic bag production, as well as register all producers, distributors, collectors, and recycling units. This initiative is part of the Punjab government’s “No to Plastic” campaign. Punjab, the most populous province in Pakistan, accounts for over half of the country’s plastic consumption.…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) announced on Friday an increase of up to Rs3.23 per unit in electricity rates for K-Electric consumers over the next four months (June to September) to address a nine-month backlog of fuel cost adjustments (FCA). K-Electric had requested a cumulative FCA of about Rs18.6 per unit for the three quarters from July…
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