The price of 24-karat per tola gold decreased by Rs800 and was sold at Rs272,600 on Tuesday against its sale at Rs273,400 the previous day. The price of 10-gram 24-karat gold also decreased by Rs685 to Rs233,711 from Rs234,396 whereas that of 10-gram 22-karat gold declined to Rs214,235 from Rs214,863, the All Sindh Sarafa Jewellers Association reported. The prices of…
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The federal government is set to negotiate with private Independent Power Producers (IPPs), state-owned power plants, and solar and hydropower projects to reduce electricity tariffs by up to Rs. 12 per unit by March 2025. According to sources, negotiations aimed at lowering electricity costs are ongoing and are expected to be completed within the next six months. Talks involve all…
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China’s Huaneng Group has commenced construction on the second phase of the Jintan Salt Cavern Compressed Air Energy Storage (CAES) project in Changzhou, Jiangsu province, setting a new benchmark in the global energy storage industry. Once completed, it will become the world’s largest CAES facility, boasting record-breaking advancements in power output and efficiency. The second phase will include two 350…
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K-Electric (KE) has announced that 70% of its 2,100 feeders remain exempt from loadshedding following its quarterly review. The updated loadshedding schedule is now accessible on the KE website and is effective immediately. The remaining 30% of feeders experience loadshedding durations ranging from 6 to 10 hours. Customers can stay updated through the KE Live App and KE’s WhatsApp service.…
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ISLAMABAD: Kuwait Foreign Petroleum Exploration Company (KUFPEC) has officially exited Pakistan’s oil and gas sector by selling its key assets, valued at approximately $60 million, to Pakistan Exploration (Private) Limited (PEL). This marks the conclusion of KUFPEC’s operations in the country amidst growing challenges in the energy sector. A senior official from the Ministry of Energy revealed that mounting circular…
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ISLAMABAD: The Power Division has initiated a fact-finding inquiry against the National Transmission and Despatch Company (NTDC) for the removal of development schemes, including the Electricity Distribution Efficiency Improvement Project (EDEIP), from the Public Sector Development Program (PSDP). This deletion has stalled consultant salaries and delayed new consultancy contracts since the start of the financial year, sources revealed. Special Secretary…
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ISLAMABAD: Prime Minister Shehbaz Sharif has instructed the Power Division to conduct a thorough review of base load power requirements and analyze the costs of retiring low-efficiency power plants versus transitioning to solar and renewable energy solutions. These directives were issued during a high-level meeting discussing the Integrated Generation Capacity Expansion Plan (IGCEP), solar power projects, floating solar initiatives, Saudi…
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ISLAMABAD: The federal cabinet has proposed introducing uniform gas prices for fertiliser manufacturers to eliminate alleged favoritism and market distortions. The move aims to ensure a level playing field as discrepancies in current gas tariffs have led to uneven profit margins among manufacturers. At present, some urea manufacturers pay lower gas tariffs while others incur higher costs. Despite this, all…
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