ISLAMABAD: The Private Power and Infrastructure Board (PPIB) is preparing to extend Letters of Intent (LoIs) for 12 months for three category-III solar PV projects. The decision was made during a recent Projects Committee meeting, chaired by the Additional Secretary of the Planning Division. The LoIs, initially issued to RE Solar I (Pvt) Limited, RE Solar II (Pvt) Limited, and…
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KARACHI: Environmentalists are calling for urgent measures to safeguard mangrove forests, emphasizing their essential role in supporting marine life and sequestering carbon. These unique ecosystems, found in coastal regions such as Karachi, Keti Bandar, Thatta, Sujawal, and parts of Balochistan, are critical nurseries for fish, crabs, and shrimp, and can capture up to four times more carbon than other coastal…
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ISLAMABAD: Hungarian oil and gas company MOL has announced a significant hydrocarbon discovery at an exploratory well in the Kohat district of Khyber Pakhtunkhwa. The discovery was made in the Razgir-1 Exploratory well, part of the TAL Joint Venture, which MOL operates. The joint venture includes MOL Pakistan Oil & Gas Co. B.V. as the operator, alongside its partners, Oil…
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KARACHI: The Pakistan Business Council (PBC) has raised alarms about an increasing trend of multinational companies (MNCs) planning to relocate their back offices from Pakistan, with several already having done so recently. This shift is largely attributed to widespread internet disruptions caused by the reported imposition of a firewall, severely impacting business operations. The warning coincides with a report from…
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ISLAMABAD: In a positive development for consumers, government-owned power distribution companies (Discos) are seeking a refund of Rs 4.5 billion to be reflected in September bills. This comes as the Central Power Purchasing Agency (CPPA) has requested a 31 paise per unit reduction in the fuel cost adjustment (FCA) for electricity consumed in July. The CPPA’s petition to the National…
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