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Day: January 16, 2025

Internet Slowdown Still Persists After Installation of World’s Largest Undersea Cable in Pakistan

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Undersea Cable in Pakistan

Internet users across various cities in Pakistan continue to face slow connectivity, particularly during peak hours since two weeks after a fault was detected in the submarine cable AAA-1 near Qatar. Social media apps and web browsing remain sluggish for some users, prompting concerns over service reliability. A spokesperson for Pakistan Telecommunication Company Limited (PTCL) said internet traffic has been…

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Govt promises cheapest electricity in the region

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cheapest electricity

• Slashes EV charging tariffs by over Rs30 per unit to promote clean energy• Expects electric vehicles to help cut oil bill by $6bn• Leghari seeks financing for rickshaw, small car owners ISLAMABAD: Promising the region’s lowest electricity tariff in a few months, the government on Wednesday decided to reduce power supply rates to electric vehicle charging stations (EVCS) by almost 44…

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Qatar hikes March al-Shaheen oil term price to over 2-year high

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oil term price

SINGAPORE: QatarEnergy has raised the term price for al-Shaheen crude oil loading in March, trade sources said on Thursday, setting it at a premium that has been the highest in more than two years. The term price has risen by $2.76 to $3.81 per barrel, from the premium of $1.05 per barrel set for February-loading cargoes, the sources said. The…

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Race to renewables: Attock Cement commissions 4.8MW windmill project

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windmill project

As Pakistan’s corporate sector increasingly turns to renewable energy to meet its power needs, Attock Cement became the latest entrant to join this trend, announcing the successful commissioning of a 4.8MW windmill project. The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday. “We would like to convey the information that our windmill…

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OGDCL Begins Oil and Gas Production from Kharo-1 Well in Sindh

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KARACHI: Oil & Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production (E&P) firm, has officially started oil and gas production from its Kharo-1 well in Khairpur, Sindh. The company made this announcement in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. The Kharo-1 well is currently producing 20 barrels of oil per day (bpd) and five…

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Leghari Announces Rs1.4 Trillion Savings from IPP Contract Reviews, New Initiatives to Tackle Power Sector Issues

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Awais-Leghari

ISLAMABAD: Federal Minister for Energy, Sardar Awais Ahmad Khan Leghari, informed the National Assembly on Wednesday about significant progress in the power sector. He highlighted that the government had reviewed contracts with 28 Independent Power Producers (IPPs), leading to savings of Rs1,457 billion for the national exchequer. In response to questions during the Question-Hour session, Leghari denied reports that any…

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Wafi Energy Pakistan Appoints Zubair Shaikh as Interim CEO Following Leadership Transition

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Wafi-Energy

The Board of Directors of Wafi Energy Pakistan Limited, formerly Shell Pakistan Limited, has appointed Zubair Shaikh as interim Chief Executive Officer (CEO), effective February 1, 2025. The announcement follows Waqar I. Siddiqui’s decision to step down as CEO on January 31, 2025. The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Wednesday, with the…

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Masdar Sets Sights on 100 GW Clean Energy Target by 2030

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Solar-Panels

Masdar, a global leader in renewable energy, has reaffirmed its ambitious goal of achieving 100 gigawatts (GW) of clean energy capacity worldwide by 2030. “This target highlights Masdar’s dedication to accelerating the global clean energy transition and contributing to climate neutrality,” said Fatima Al Suwaidi, Head of Development & Investment (APAC) at Masdar, during Abu Dhabi Sustainability Week 2025. Masdar’s…

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Govt Raises Petrol Price by Rs3.47, Diesel by Rs2.61 Amid Global Market Fluctuations

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Petrol-Diesel

ISLAMABAD: The federal government on Wednesday announced an increase in the price of petrol by Rs3.47 per litre, bringing it to Rs256.13 per litre, and high-speed diesel (HSD) by Rs2.61 per litre, now priced at Rs260.95 per litre, for the upcoming fortnight. A press release from the Finance Division attributed the hike to fluctuations in the international oil market, though…

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Nepra Questions K-Electric’s Future Amid Heavy Reliance on National Grid

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New-NEPRA

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) approved a Rs4.98 per unit refund for K-Electric (KE) consumers under November’s fuel cost adjustment (FCA), applicable in February bills. However, the regulator raised serious concerns over KE’s sustainability due to its dependence on the national grid for over 67% of its power supply. During a public hearing, Nepra member Maqsood Anwar…

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