Pakistan may see a significant reduction in fuel prices in the coming days, with cuts of up to Rs12 per litre expected across various petroleum products, according to industry sources Preliminary calculations suggest that the price of petrol could decrease by over Rs9 per litre, while high-speed diesel (HSD) may see a reduction of up to Rs8.50 per litre. Kerosene…
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Solar panel prices in Pakistan have dropped to a historic low, with the per-watt cost now ranging between Rs. 30 and Rs. 32. This significant decrease in prices is largely attributed to the oversupply in the local market and a decline in international rates. Earlier this year in April, the per-watt price was around Rs. 39 to Rs. 40. By…
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ISLAMABAD: The government has decided to extend the Financial Close (FC) date for the 1124-MW Kohala Hydropower Project, a key initiative under the China-Pakistan Economic Corridor (CPEC), by three years, starting from October 1, 2024. This extension, granted under the Letter of Support (LoS), will also include a waiver of the extension fee, subject to certain conditions. The decision was…
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ISLAMABAD: Prime Minister Shehbaz Sharif is set to reveal a new economic plan on August 14, aiming to drive real-time export-led growth and dismantle longstanding economic barriers. The plan, developed by a task force in collaboration with Oxford University’s Professor Stefan Dercon, focuses on economic liberalisation and reducing government intervention in subsidies. Key elements of the “Home-grown Economic Plan” include…
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ISLAMABAD: The government is contemplating the introduction of a price equalisation levy on wellhead gas as part of a broader initiative to reform the petroleum sector. The proposed surcharge aims to cross-subsidise protected residential consumers and key industrial sectors, potentially relieving a burden of Rs10-15 billion annually from the federal budget, which is currently allocated to subsidies within the gas…
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LAHORE: A major development in Punjab’s renewable energy sector took place as a Chinese company signed an agreement with the provincial government to establish a solar panel manufacturing and assembly plant in the region. The agreement was signed by Provincial Minister of Industries and Commerce, Chaudhry Shafay Hussain, and Alex Hang, President of the South Pacific Region of AIKO, a…
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Karachi, Pakistan – In a groundbreaking achievement, LADIESFUND Energy has empowered female engineers in Pakistan by completing the country’s first solar roof installation by an all-female team. This pioneering project marks a significant milestone in promoting gender equality and sustainable energy solutions. The team of 28 female engineers, trained and certified by NED University, installed a 24 KW solar system…
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KARACHI (Aug 9): Prime Minister of Pakistan Mohammad Shahbaz Sharif and Sindh Chief Minister Syed Murad Ali Shah, in their one-on-one meeting at CM House, discussed different projects the federal government has initiated in the province and decided to speed up their timely completion.The CM thanked the prime minister for his visit and get the progress and issues of the…
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KARACHI: Energy experts are urging greater adoption of solar energy in Pakistan, emphasizing its potential to reduce dependency on fossil fuels, lower energy costs, and improve electricity access in remote regions. They argue that solar energy also promotes job creation, environmental sustainability, and contributes to a more resilient energy sector. The experts praised the government’s efforts to incentivize solar energy…
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LAHORE: Zaki Aijaz, Vice President and Regional Chairman of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has called for urgent action from the task force on Independent Power Producers (IPPs) and Pakistan’s Power Sector Reforms to hold the country’s 40 IPPs accountable. In a statement on Friday, Aijaz underscored the increasing frustration among the public and business…
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