Author: Admin

Inverex Leads Pakistan’s Green Revolution with Electric Vehicles and Next-Gen Solar Innovations

Admin
New-Project61

Inverex, a frontrunner in Pakistan’s solar energy sector, is making a groundbreaking leap into the electric vehicle (EV) market—becoming the first Pakistani solar company to do so. This strategic move reinforces Inverex’s mission to promote clean energy and reduce the country’s dependence on fossil fuels. The landmark announcement was made during an exclusive event in Kuala Lumpur, Malaysia, where Inverex unveiled its latest innovations to a packed audience of clean energy stakeholders, including Pakistani dealers, installers, contractors, and renewable energy advocates. The company showcased a wide range of cutting-edge products…

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Pakistan, World Bank Discuss $400m Investment in Power Transmission, Long-Term Energy Reforms

Admin
world-bank

ISLAMABAD: Pakistan and the World Bank have initiated discussions on a transformative $400 million investment in reactive power compensation as part of a broader 10-year transmission partnership, aiming to revamp the country’s energy infrastructure with sustainable, market-driven reforms. Federal Minister for Power Sardar Awais Khan Leghari, in a meeting with World Bank’s Regional Director for Infrastructure, Pankaj Gupta, outlined the government’s strategy to move away from uniform tariffs and improve transparency through major system upgrades in power distribution and transmission. He reaffirmed Pakistan’s commitment to sustainable energy reforms under a…

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Petroleum Division Raises Concerns Over Rs10 PL Hike on Fuel

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Petrol-Diesel

ISLAMABAD: The Petroleum Division has voiced strong reservations over the recent decision to hike the petroleum levy (PL) on motor spirit (MS) and high-speed diesel (HSD) by Rs10 per litre—raising the total levy to Rs70 per litre—as part of a plan to reduce electricity tariffs. Sources told Business Recorder that the increase, which aims to generate Rs58.6 billion to lower power tariffs by Rs1.71 per unit, is being seen as an unfair burden on the petroleum sector. The Petroleum Division formally conveyed its objections to the Power Division on April…

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Pakistan Commits to Comprehensive Energy Sector Reforms Under IMF Agreement

Admin
New-IMF

ISLAMABAD: The government of Prime Minister Shehbaz Sharif has pledged a wide-ranging overhaul of Pakistan’s energy sector as part of fresh commitments made to the International Monetary Fund (IMF). The reforms aim to address chronic inefficiencies, eliminate circular debt (CD), and reduce fiscal risks through a combination of tariff rationalization, targeted subsidies, and structural changes. Key measures include regular and automatic electricity and gas tariff adjustments, cessation of new subsidies, and converting the circular debt stock into Central Power Purchasing Agency (CPPA-G) liabilities. The plan, developed with the IMF between…

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Govt Approves 30-Year Lease Extension for Engro Vopak LPG Terminal at Port Qasim

Admin

ISLAMABAD: In a significant development, the government has agreed in principle to extend the lease of Engro Vopak Terminal Limited (EVTL) by 30 years, allowing the company to continue operating its liquefied petroleum gas (LPG) and liquid chemical terminal at Port Qasim beyond its current lease term, which ends in 2026. According to sources, the Port Qasim Authority (PQA) signed the second Supplemental Implementation Agreement (SIA) with EVTL on January 15, 2025, and a third SIA followed on February 24, 2025. EVTL submitted its final lease extension proposal on February…

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