Karachi: The Sindh cabinet has approved allotting 250 acres of land in the Manjhand area in District Jamshoro for setting up a solar park having a generation capacity of 500 MWs of clean electricity.The provincial cabinet, whose meeting was chaired by the Sindh Chief Minister Syed Murad Ali Shah, also approved allotting 612 acres of land in District Central of…
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Karachi: The Sindh cabinet has granted approval to the formation of the Sindh Electric Power Regulatory Authority (SEPRA) to set up Pakistan’s first-ever provincial-level regulator for electricity affairs in line with the 18th Constitutional Amendment.The cabinet meeting was chaired by Sindh Chief Minister Syed Murad Ali Shah. On June 7, 2023, the Sindh Assembly unanimously passed the Sindh Regulation of…
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KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while referring to his discussions with industrial town associations in connection with delays in release of funds against incremental consumption of electricity during COVID-19 pandemic, urged the government to immediately release the remaining amount of Rs33 billion to Karachi industries so that their grievances could be minimized to…
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KARACHI: Pakistan’s refining industry is gearing up for significant furnace oil exports in the coming weeks, with shipments expected to exceed 100,000 tonnes. The shift towards exports comes as domestic demand for furnace oil has nearly vanished since the start of the current fiscal year. Pakistan Arab Refinery Limited (PARCO) has already issued a tender to export 50,000 tonnes of…
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ISLAMABAD: In the early hours of August 3, a gas turbine at the 1,263 MW RLNG-based power plant near Trimmu Barrage, Jhang, caught fire, causing significant damage. The power plant, which boasts an efficiency of 61.16 percent, was a key project initiated by Prime Minister Shehbaz Sharif during his tenure as Punjab Chief Minister. The project, fully owned by the…
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ISLAMABAD: The federal government has formed a committee to address the dispute regarding the transfer of 322,460,900 shares of Oil and Gas Development Company Limited (OGDCL). The Ministry of Planning, Development, and Special Initiatives opposes the proposal to transfer these shares to the Ministry of Energy (Petroleum Division), recommending instead that they be transferred to the Pakistan Sovereign Wealth Fund…
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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has rejected the Central Power Purchasing Agency Guarantee Limited’s (CPPA-G) petition to modify the tariff for Star Hydro Power Company. The petition, which sought to revise the tariff by excluding Principal Debt Damages awarded by the London Court of International Arbitration (LCIA), was deemed inadmissible due to insufficient legal grounds. Star Hydro…
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ISLAMABAD: The Shehbaz Sharif-led government appears poised to adopt a similar approach to the Imran Khan administration in its dealings with Independent Power Producers (IPPs). This strategy includes reducing the Rate on Equity for public sector power plants, shutting down five Gencos to achieve a cost relief of up to Rs 4 per unit, and renegotiating existing contracts from a…
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LAHORE: The President of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), Moazzam Ghurki, has called for transforming the China-Pakistan Economic Corridor (CPEC) into a model green Belt and Road Initiative (BRI) to safeguard the natural environment in the region. Speaking at a think tank session held at the PCJCCI on Thursday, Ghurki highlighted that such a transformation would…
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