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Month: June 2024

President Removes Hurdle to Sacking DISCOs’ Boards

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Asif-Zardari

Promulgates Ordinance Empowering Govt to Remove Independent Directors of SOEs ISLAMABAD: Hours before the parliamentary sessions began, President Asif Ali Zardari promulgated an ordinance to eliminate a legal barrier preventing the government from dismissing the boards of loss-making power distribution companies (DISCOs). The State-Owned Enterprises Governance and Operations Amendment Ordinance 2024, effective from June 5, 2024, grants the government temporary…

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PM Shehbaz Vows to Follow Chinese Development Model

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Pakistan-China

ISLAMABAD: Prime Minister Shehbaz Sharif lauded the Chinese development model on Thursday, asserting that Pakistan could become a great nation by emulating this model through diligent effort and a strong focus on industrial and agricultural growth. “All Pakistanis will also have to pass through this thorny process. There is no other way to earn respect in the world,” the prime…

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Nepra Notifies Rs3.33 Per Unit Hike for April

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NEPRA-KE

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday notified an additional fuel cost charge of Rs3.33 per unit for April, allowing ex-Wapda distribution companies (Discos) to collect an additional Rs29 billion in June. This notification comes as the government acknowledges a minor impact of solar net metering on electricity sales. Nepra stated that it had reviewed and assessed…

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Hopewind Powers China’s largest standalone environmental desert control PV project

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Hopewind-new

Hopewind has significantly contributed to the construction of China’s largest standalone environmental desert control photovoltaic (PV) project. Situated in the Kubuqi Desert, Mengxi Base, this 2GW project is groundbreaking in its scale and impact. Project Significance The Kubuqi Desert project is crucial for improving the ecological environment of the “Jiziwan” basin of the Yellow River and the Kubuqi Desert. It…

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Pakistan and China Sign 32 MoUs to Boost Trade and Investment

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Pak-china

ISLAMABAD: In a significant move to enhance bilateral trade and investment, Pakistan and China have signed 32 memorandums of understanding (MoUs). The agreements were formalized during Prime Minister Shehbaz Sharif’s visit to China, where he led a delegation of 100 businessmen aiming to explore new avenues for economic collaboration. An official announcement from the Commerce Ministry on Wednesday highlighted that…

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Power Consumers to Face 14% Markup on Installment Payments

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Nepra-Price

ISLAMABAD: Consumers grappling with the highest-ever electricity tariffs and seeking installment plans for their hefty bills due to financial hardships are now required to pay a 14% markup on delayed payments. Additionally, they will be disqualified from availing subsequent part-payment facilities for a year. This comes on top of a 10% late payment surcharge (LPS) for bills not paid within…

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PM Shehbaz Pledges Full Support and Security for Chinese Investors During China Visit

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Shehbaz-Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif has assured Chinese investors of comprehensive facilitation and stringent security measures for their projects in Pakistan. Addressing the Pakistan-China Business Forum in Shenzhen, PM Shehbaz emphasized the immense potential for bilateral trade and investment, particularly in sectors such as IT, agriculture, mining, steel, textiles, and renewable energy. Highlighting the successful Chinese model of economic transformation,…

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COP29 Joins Forces with IRENA to Monitor UAE Consensus Energy Goals Set at COP28

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New-COP29

Azerbaijan and IRENA Partner to Track Progress Towards Renewable Energy and Efficiency Targets by 2030 Abu Dhabi, United Arab Emirates / Baku, Azerbaijan, 5 June 2024 – The incoming COP29 Presidency, represented by Azerbaijan, has announced a strategic partnership with the International Renewable Energy Agency (IRENA) to monitor the progress towards tripling renewable energy capacity and doubling energy efficiency by…

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AGP Office Distances Itself from Strategy on SHPL Award

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New-AGP

AGP Office Declines Involvement in Strategy for SHPL Award, Leaves Decision to CPPA-G and Power Division ISLAMABAD: The Office of the Attorney General for Pakistan (AGP) has distanced itself from the strategy to handle the award of millions of dollars in favor of Star Hydro Power Limited (SHPL). This strategy was suggested by the foreign counsel engaged by the Central…

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