LAHORE: A Chinese company will set up a solar panel manufacturing and assembling plant in Punjab under an agreement signed with the provincial government. Provincial Minister of Industries and Commerce Chaudhry Shafay Hussain and President of the South Pacific Region of Chinese Company AIKO, Alex Hang, signed the agreement. The minister said on the occasion that the Chinese company will…
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KARACHI According to tv report Mari Petroleum’s MI-8 helicopter has been crashed in North Waziristan. Six died and eight injured as a result of the helicopter crash.The injured had been shifted to CMH Thal via helicopter.As per reports, the helicopter was carrying 14 passengers including 3 Russian pilots and crew.As per Mari Petroleum spokesperson, the helicopter exploded during flight in…
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ISLAMABAD: The federal government is likely to maintain the current petrol price while reducing the ex-depot price of high-speed diesel (HSD) starting October 1, 2024. With no changes anticipated in the petroleum levy (PL) or general sales tax (GST), petrol prices are expected to stay at Rs 249.10 per litre. In contrast, HSD prices could decrease by Rs 2.11 per…
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BEIJING: Pakistan’s demand for solar photovoltaics (PV) is skyrocketing as the country faces chronic power shortages and the aftermath of frequent floods. In August 2024 alone, China’s inverter exports to Pakistan reached 326 million yuan, a remarkable 429.04% year-on-year increase, according to the China Photovoltaic Industry Association (CPIA). Pakistan has emerged as the second-largest overseas market for Chinese PV modules,…
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The International Monetary Fund (IMF) has emphasized the importance of sustained implementation of Pakistan’s $7 billion Extended Fund Facility (EFF) and broadening the tax base for long-term economic stability. Following the IMF’s disbursement of a $1 billion tranche, the board stressed that Pakistan must continue reforms, particularly in tax administration, fiscal management, and the energy sector. The IMF urged Pakistan…
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KARACHI: Chief of Army Staff (COAS) General Asim Munir has assured Karachi’s business community of efforts to reduce industrial electricity tariffs and repair roads in key trading areas. During his visit to the city, he emphasized that the economy is gradually improving and acknowledged the role of entrepreneurs in this recovery. Meeting with businesspersons, General Munir expressed optimism about Pakistan’s…
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September 26, 2024: WAPDA’s Central Material Testing Laboratory (CMTL) has successfully launched Pakistan’s largest triaxial machine, designed for geotechnical testing of rock foundations for major dam and hydropower projects. The machine was made operational through collaboration between WAPDA’s Technical Services Division and the University of Engineering and Technology (UET), Lahore. To commemorate this milestone, WAPDA Chairman, Engr Lt Gen Sajjad…
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ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has issued an urgent appeal to the Petroleum Division, highlighting severe financial challenges due to underpayment by the power sector for RLNG supplies. Sources reveal that SNGPL has approached the Directorate General of Gas, outlining difficulties in meeting its payment obligations for RLNG and indigenous gas supplies. Since the gas price revision in…
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ISLAMABAD: The government is set to unveil revised agreements with Independent Power Producers (IPPs), promising significant reductions in payments. However, the specifics of amendments to the Implementation Agreements of five key IPPs remain unclear. Negotiations, led by the Special Assistant to the Prime Minister on Power Muhammad Ali, involved private meetings in Rawalpindi with representatives from companies like Hubco, Rousch,…
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ISLAMABAD: PPP Senator Sherry Rehman has stressed the urgent need for bold climate action as Pakistan prepares for the upcoming COP29 summit in Baku. Speaking as the chief guest at an international conference on “Navigating Pakistan’s Climate Action Path: Adaptation, Finance, and Technology,” organized by the Institute of Strategic Studies (ISS) in collaboration with Hanns Seidel Stiftung (HSS), Rehman emphasized…
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