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Month: August 2024

Power Sector Urges Implementation of 2020 IPP Report’s Recommendations

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Power-sector

LAHORE: Experts in Pakistan’s power sector are calling for urgent transparency and accountability by enforcing the recommendations of the 2020 Report on Independent Power Producers (IPPs). This report, released in March 2020, exposed significant irregularities, including excess payments of over Rs 100 billion to IPPs. Despite recommendations for a forensic audit and recovery of these excess payments, no substantial actions…

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Solis Tops Global Rankings in Residential PV String Inverters

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Solis-Tops

LAHORE: Solis (Ginlong Technologies), a leading name in solar inverter technology, has achieved the #1 ranking in global residential inverter shipments, according to the latest market share report by Wood Mackenzie. This marks a significant milestone for Solis, which previously held the position of the world’s third-largest PV inverter manufacturer across all segments for three consecutive years. This achievement underscores…

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WAPDA House Celebrates Independence Day with Flag Hoisting Ceremony

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WAPDA-House

LAHORE: To mark Pakistan’s Independence Day with patriotic zeal, a flag hoisting ceremony was held at WAPDA House in Lahore. The ceremony was led by WAPDA Member (Finance) Naveed Asghar Chaudhry and Member (Power) Jamil Akhtar, who together raised the National Flag at the WAPDA Auditorium. The event commenced with the students from WAPDA Girls Higher Secondary School Chashma, who…

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Circular Debt: A Major Threat to Pakistan’s Economic Stability, Warns Mazhar Ali Nasir

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Mazhar-Ali

KARACHI : Syed Mazhar Ali Nasir, a central leader of the United Business Group and former Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has raised serious concerns about Pakistan’s growing circular debt, labeling it as one of the most pressing challenges facing the economy. Speaking on the occasion of Pakistan’s Independence Day, Nasir…

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PM Shehbaz Vows Major Reduction in Power Tariffs

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Shahbaz-Sharif

Urges Youth to Focus on Skills, Warns Against Anti-State Activities ISLAMABAD: In a message marking Pakistan’s 78th Independence Day, Prime Minister Shehbaz Sharif announced plans for a significant reduction in electricity tariffs, aiming to alleviate the financial burden on citizens and boost the nation’s industry, agriculture, and exports. Addressing a ceremony in Islamabad, PM Shehbaz acknowledged that rising electricity bills…

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OGRA Launches “Plant for Pakistan” Initiative

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OGRA

Islamabad, August 13, 2024: In commemoration of Pakistan’s 77th Independence Day, the Oil and Gas Regulatory Authority (OGRA) has launched the “Plant for Pakistan” initiative, reflecting the nation’s commitment to combating the adverse impacts of climate change. The eco-friendly drive was inaugurated by OGRA Chairman, Masroor Khan, who planted a tree alongside Members of the Authority and OGRA employees. The…

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OGDCL Announces Major Gas Discovery at Mari East Block in Rahim Yar Khan, Punjab

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gas

ISLAMABAD, August 13, 2024: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest petroleum exploration and production company, on Tuesday announced a major gas discovery from its exploratory well Chak 202—1 in the Mari East Block, located in Rahim Yar Khan district of Punjab.The exploratory well Chak 202—1 was spudded on June 29, 2024, utilizing OGDCL’s in-house expertise and cutting-edge…

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Independence Day Gift: Pakistan Govt Announces Major Reduction in Petroleum Prices

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Petroleum-prices

Islamabad, Pakistan – In a welcome move, the Pakistan government has announced a significant reduction in petroleum prices, just in time for the country’s 77th Independence Day celebrations. The price of petrol has been decreased by Rs 8.47 per liter, bringing the new price to Rs 260.96 per liter. Similarly, the price of diesel has been reduced by Rs 6.70…

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Pakistan and Russia Engage in Talks for LNG Trade by 2026

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LNG-chain

ISLAMABAD: In a significant development, Russia has informed Pakistan that its LNG export terminals will be operational by 2026, paving the way for potential gas trade between the two nations. Both countries are actively exploring future LNG transactions, especially as Pakistan’s long-term LNG agreements with Qatar approach a critical price re-opening phase in 2026, according to a senior official from…

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NTDC Boosts Power Capacity with New 250 MVA Transformer at Sheikhupura Grid Station

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LAHORE: The National Transmission and Despatch Company Limited (NTDC) has successfully enhanced the power transmission capacity at the 500 kV Grid Station Sheikhupura by installing a new 250 MVA autotransformer. The augmentation involved replacing the existing 160 MVA, 220/132 kV autotransformer (T-8) with the more powerful 250 MVA, 220/132 kV autotransformer. The Project Delivery (North) Lahore team completed the installation…

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