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Year: 2024

Pakistan has taken right measures for economic growth: Minister Petroleum

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economic growth

ISLAMABAD: Minister for Petroleum and Water Resources Musadik Masood Malik on Thursday said Pakistan was heading towards the right direction as it had successfully controlled inflation, achieved substantial growth in agriculture sector and witnessed an increase in foreign reserves.He was speaking at the concluding plenary of the four-day Sustainable Development Conference organised by the Sustainable Development Policy Institute (SDPI).Mr Malik…

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Sterling Tech-Mobility partners with Chinese firm to set EV component plant

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EV component plant

Sterling Tech-Mobility Ltd on Monday said it will set up a manufacturing facility in collaboration with Chinese firm Kunshan GLVAC Yuantong New Energy Technology for advance high-voltage DC contactors and relays for electric and hybrid vehicles in Bengaluru at an investment of Rs 40 crore. The collaboration, which is aimed at the domestic production of these auto parts, is expected…

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Oracle Power makes progress on its 1.3 GW hybrid renewable project in Pakistan

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Power project

The UK renewable developer Oracle Power has completed the transmission and grid interconnection study for a project to build a 1.3 GW hybrid renewables complex in Jhimpir, in the Sindh province of southern Pakistan. The study, which was launched in May 2024, was conducted by Power Planners International. The renewable hub, developed by Oracle Energy and China Electric Power Equipment and Technology (CET,…

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OGRA Enforces New Safety and Branding Standards for Oil Tankers

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OGRA

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has mandated that oil marketing companies (OMCs) strictly comply with updated safety and branding standards for tank lorries transporting petroleum products throughout Pakistan. In a circular, OGRA outlined specific safety, color, and branding guidelines, requiring tank lorries to display the OMC’s designated color scheme, logo, and brand, and to be equipped with…

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Pakistan to Establish 10,000 EV Charging Stations by 2030 in Push for Sustainable Transport

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electric-vehicles

ISLAMABAD: Federal Minister for Industries and Production Rana Tanveer Hussain announced Pakistan’s plan to set up 10,000 electric vehicle (EV) charging stations nationwide by 2030. This initiative aims to reduce fuel imports, lower carbon emissions, and support eco-friendly transportation. Speaking at an exhibition by the Engineering Development Board (EDB), Hussain highlighted Pakistan’s shift to EVs, sharing that 31 companies have…

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Sharif Announces 100MW Power Boost and Rs1 Billion Student Fund for Gilgit-Baltistan

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Sharif-Announces

GILGIT: During a visit to Gilgit-Baltistan (GB), Prime Minister Shehbaz Sharif announced an immediate power supply of 100 megawatts for the region and the establishment of a Rs1 billion merit-based endowment fund for students at Baltistan University and Karakoram University. In a special meeting with the GB cabinet, the Prime Minister also expressed satisfaction over the timely completion of the…

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Discos Request 48 Paisa Increase to Recover Rs8.7 Billion from Consumers for Q1

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Power-sector

ISLAMABAD: Power Distribution Companies (Discos) have filed a petition with the National Electric Power Regulatory Authority (Nepra) seeking a positive adjustment of 48 paisa per unit to recover Rs8.718 billion from consumers for the first quarter (July-September) of FY2024-25 under the Quarterly Tariff Adjustment (QTA) mechanism. The petition, filed by the Central Power Purchasing Agency Guaranteed (CPPA-G), details that Rs8.065…

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Government’s ‘Winter Package’ for Power Consumption Stalls Amid IMF Approval Uncertainty

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pak-imf

ISLAMABAD: The federal government’s proposed ‘Winter Package 2024,’ aimed at boosting electricity consumption during winter, remains uncertain as conflicting reports emerge regarding International Monetary Fund (IMF) approval. The package seeks to lower electricity rates by Rs 7-8 per unit nationwide for five months, from December 2024 to April 2025, in an effort to increase domestic demand and reduce capacity charges.…

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AIIB Eyes New Investment Opportunities in Pakistan’s Energy Transmission Sector

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New-AIIB

ISLAMABAD: The Asian Infrastructure Investment Bank (AIIB) has expressed a keen interest in exploring future investments in Pakistan’s energy transmission sector. During a meeting on Wednesday, AIIB Vice President Konstantin Limitovskiy met with Federal Minister for Economic Affairs Ahad Khan Cheema, discussing the bank’s ongoing projects, future pipeline, and potential financing avenues in Pakistan. Cheema acknowledged AIIB’s continued support, particularly…

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Leaders Highlight Need for immediate action to Tackle Pakistan’s Economic and Environmental Challenges

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summit

Karachi, November 06, 2024: The 8th Edition of THE FUTURE SUMMIT commenced with a packed hall at a local hotel in Karachi. Farrukh Amin, Chief Executive Officer, Unity Foods Limited and Muhammad Azfar Ahsan, Founder & Chairman, Nutshell Group, welcomed the audience. The inaugural session featured an impressive lineup of speakers including Senator Muhammad Aurangzeb, Federal Minister for Finance &…

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