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Day: November 20, 2024

Pakistan to Slash EV Charging Costs to Boost Electric Vehicle Adoption

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Electric-Vehicle

ISLAMABAD: Pakistan plans to significantly lower electricity tariffs for electric vehicle (EV) charging stations as part of its strategy to decarbonize the transport sector and stimulate EV demand, according to Power Minister Awais Leghari. The government is formulating a pricing structure to make EV charging more affordable for small cars, two-wheelers, and three-wheelers. This initiative aligns with the broader goal…

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SNGPL Holds CPPA-G Accountable for Rs. 148 Billion in Outstanding Receivables

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SNGPL-Office

ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has attributed the accumulation of Rs. 148 billion in outstanding receivables to delays in payments by the Central Power Purchasing Agency–Guaranteed (CPPA-G). The amount includes dues from Independent Power Producers (IPPs), government-owned plants, and WAPDA, highlighting a severe financial strain on SNGPL’s operations. According to SNGPL, receivables from Guddu Power Plant alone amount…

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Petroleum Division Proposes Third-Party Gas Sales Framework

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Oil-Price

ISLAMABAD: The Petroleum Division has prepared a framework for the sale of up to 100 MMCFD gas by Exploration and Production (E&P) companies to third parties through open auctions. The summary, finalized following an inter-ministerial committee decision led by Deputy Prime Minister Ishaq Dar, will be submitted to the Executive Committee of the National Economic Council (ECNEC) for approval. Initially…

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Schlumberger Wins OGDCL Contract for Tight Gas Evaluation Study

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OGDCL-Wins

ISLAMABAD: Schlumberger (M/s SLB) has been awarded a key contract by the Oil and Gas Development Company Limited (OGDCL) following a competitive international tender for an “integrated study of tight gas prospectivity evaluation.” The rigorous selection process involved 11 global bidders, with Schlumberger chosen for its strong technical expertise and cost-effective proposal. The study will focus on identifying Pakistan’s most…

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IDEAS 2024: Global Defence Innovation Takes Center Stage

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IDEAS-2024

KARACHI: The 12th edition of the International Defence Exhibition and Seminar (IDEAS 2024) began with a grand inauguration at the Karachi Expo Centre on Tuesday. Federal Minister for Defence Production Khawaja Muhammad Asif presided over the ceremony, highlighting Pakistan’s commitment to international peace and security. This year’s IDEAS exhibition set new benchmarks with full capacity bookings at the venue. Over…

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Azerbaijan to Invest $3 Billion in Pakistan’s Economy

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Azerbai-jan

ISLAMABAD: Azerbaijan has pledged an investment of up to $3 billion in Pakistan across various sectors, marking a significant boost for the South Asian nation’s economy. Prime Minister Shehbaz Sharif announced the development during a recent cabinet meeting, revealing plans to formalize the investment through memoranda of understanding (MoUs). The move aims to strengthen Pakistan’s economic landscape. The premier also…

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ECC Approves Discounted Winter Power Package to Boost Consumption

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Power Users to Receive Refund

ISLAMABAD: The Economic Coordination Committee (ECC) has approved a subsidy-neutral initiative offering discounted electricity rates for incremental consumption during the winter months (December to February). The package, targeting residential, commercial, and industrial consumers, aims to boost electricity demand amid high tariffs and economic challenges. The initiative is expected to increase consumption by up to 16%, aligning with International Monetary Fund…

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