You are here

Month: November 2024

Diamond Jubilee Celebrations of National Bank of Pakistan75 Years of Unwavering Excellence

Admin
Diamond Jubilee

Exuberant celebrations filled with unwavering dedication and opulent prestige marked the 75th anniversary of the National Bank of Pakistan (NBP). Held at the historic Mohatta Palace in Karachi, the event was attended by eminent dignitaries from the government, business community, and customers from across the country.Mr. Rehmat Ali Hasnie, President NBP, warmly welcomed the Chief Guest, Mr. Jameel Ahmad, Governor…

Read More

U.S. Imposes Tariffs on Solar Panels from Southeast Asia Over Dumping Allegations

Admin
Floating Solar

Washington: The U.S. Commerce Department has announced tariffs on solar panel imports from Cambodia, Malaysia, Thailand, and Vietnam following allegations of market dumping. The decision stems from a trade complaint by Hanwha Qcells, First Solar Inc., and other U.S. manufacturers seeking to safeguard domestic solar investments. Dumping duties range from 21.31% to 271.2%, varying by company and country of origin.…

Read More

China Coal Secures 4 GW of Solar Modules at $0.10/W in Major Procurement Round

Admin
Solar-Modules

Beijing: China Coal Energy Group (China Coal) has finalized contracts for 4 GW of solar modules from JinkoSolar, Tongwei Solar, JA Solar, and DAS Solar in its first centralized procurement for 2024. The procurement includes 3 GW of n-type tunnel oxide passivated contact (TOPCon) modules (2.7 GW bifacial, 0.3 GW single-sided) priced at CNY 0.755 ($0.10) per watt and 1…

Read More

Eskom Issues Tender for 72 MW Solar Project at Komati Power Station

Admin
power-solar

South Africa: Eskom, the South African utility, has invited bids for an engineering, procurement, and construction (EPC) contractor to develop a 72 MW solar PV project at its Komati Power Station. The project will involve designing, procuring, constructing, and commissioning a solar PV system across four adjacent land parcels near Middelburg and Bethel. The EPC contractor will also provide detailed…

Read More

PPL Announces Gas and Condensate Discovery in Sindh’s Shah Bandar Block

Admin
New-PPL

KARACHI: Pakistan Petroleum Limited (PPL) has announced a significant gas and condensate discovery in the Shah Bandar Block, District Sujawal, Sindh. This marks the second hydrocarbon find at the Pateji X-1 well, highlighting its exploration success. According to material information shared with the Pakistan Stock Exchange, PPL identified the new discovery in the Upper Sand (C-Sand) reservoir after thorough in-house…

Read More

Revised PPAs Signed with Dozen IPPs as Task Force Pushes for Consumer Relief

Admin
K-Electric to resolve overbilling issues or face legal action

ISLAMABAD: The government’s energy task force, led by Federal Energy Minister Sardar Awais Khan Leghari, has renegotiated Power Purchase Agreements (PPAs) with about a dozen Independent Power Producers (IPPs) established under the 1994 and 2002 Power Policies, according to official sources. The task force, comprising top officials and energy experts, is holding firm negotiations with IPPs to address issues related…

Read More

Minister Targets Rs5 Tariff Cut through IPP Reforms, Highlights Reduced DISCO Losses

Admin
Power-sector

ISLAMABAD: Federal Energy Minister Awais Leghari announced significant reforms in the power sector on Friday, including the termination of agreements with Independent Power Producers (IPPs) to reduce electricity tariffs. Speaking at a briefing hosted by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), he revealed that electricity rates could drop by Rs5 per unit following renegotiations with additional…

Read More

Pakistan to Import 200,000 Tonnes of Diesel Amid Rising Demand

Admin
petroleum-imports

KARACHI: Pakistan is poised to import over 200,000 metric tonnes (MT) of high-speed diesel (HSD) in December, responding to a surge in demand fueled by increased legal sales and stricter anti-smuggling measures. The Oil and Gas Regulatory Authority (Ogra) has approved imports for four cargoes, with Pakistan State Oil (PSO) securing three under a long-term agreement with Kuwait Petroleum Corporation…

Read More

Government Seeks IMF Flexibility on Gas Supply to Captive Power Plants

Admin
IPPs-Project

ISLAMABAD: The government is navigating a critical challenge under the $7 billion IMF program, which mandates disconnecting Captive Power Plants (CPPs) from the gas supply by January 2025. This structural benchmark, intended to transition industries to grid electricity, has sparked concern among policymakers. In a high-level meeting chaired by Finance Minister Senator Muhammad Aurangzeb, four federal ministers, including those for…

Read More

Pakistan Secures $500m ADB Loan for Climate Resilience

Admin
SBP-ADB

KARACHI: The State Bank of Pakistan (SBP) has received $500 million from the Asian Development Bank (ADB) under the Climate Change and Disaster Resilience Enhancement Program (CDREP). The inflow, confirmed by the SBP on Friday, will strengthen Pakistan’s foreign exchange reserves. “These funds will be reflected in SBP’s reserves for the week ending November 29, 2024,” the central bank stated,…

Read More