ISLAMABAD: The Central Development Working Party (CDWP) has cleared four development projects with a total cost of Rs138.66 billion. The CDWP approved one development project with a cost of Rs2 billion and recommended three projects valued atRs136.660 billion to the Executive Committee of the National Economic Council (ECNEC) for further consideration. The CDWP met with Deputy Chairman Planning Commission Mohammad…
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Nizam Energy and its Partner Scatec Solar are proud to announce the start of Commercial Operations at its landmark 150MWp Solar Power Plant in Sukkur, Pakistan. The power plants will generate approximately 300 GWh annually under 25-year power purchase agreements with Central Power Purchasing Agency of Pakistan (CPPA). The Solar Power Plant is located in the city of Sukkur, and…
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Independents may play key role if no party secures decisive majority ISLAMABAD: The next general elections scheduled on the 8th of this month are poised to be a pivotal chapter in Pakistan’s political history, as they are marked by multifaceted challenges and evolving dynamics. As the nation grapples with its worst economic crisis, security concerns from militant groups, and disillusioned…
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KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while rejecting the unexpected hike in price of petroleum, stated that although a hike somewhere in between Rs5 to Rs9 per liter was being expected as prices of petroleum products have increased in the international market but it was highly unfair to blatantly raise petrol price locally by…
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Attributed to elevated reference fuel cost, reduced hydropower availability in Dec 2023 ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has deferred its decision regarding the request from power distribution companies (DISCOs) to raise the electricity price by Rs5.6194 per unit, citing fuel charges adjustment (FCA) for December 2023. Earlier, the Central Power Purchasing Agency (CPPA), at the behest of…
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ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has sought fixed interest/mark-up rate on Cash Development Loans (CDLs) for three solar panel PV projects to be established in South Punjab, official sources told Business Recorder. The PPIB, in a letter to Power Division referred to the acquisition of land for the development of large utility-scale solar PV projects under the Framework…
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KARACHI: Pakistan’s power sector has been slow to adopt clean and renewable energy sources, ranking 107 out of 120 countries on the global Energy Transition Index (ETI) in 2023, a study by a local rating agency said on Wednesday. The low ETI score of 46.9 reflects a lack of sufficient initiatives to align with the country’s commitment to energy transition…
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ISLAMABAD: The caretaker government Wednesday increased the price of a domestic 11.8-kilogram liquefied petroleum gas (LPG) cylinder by Rs13.76 for February 2024, as per a notification from the Oil and Gas Regulatory Authority (Ogra). The LPG prices have witnessed an increase of Rs1.16/kg, rising from Rs256.43/kg in January to Rs275.59 in February. In a statement, the regulator said: “The LPG…
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ISLAMABAD: The federal government has introduced the Tight Gas (Exploration & Production) Policy 2024, focusing on an innovative pricing strategy to encourage efforts in exploring and producing unconventional hydrocarbon reserves. The policy aims to promote activities in this sector by offering a significant 40 per cent premium on the zonal price, defined in the Petroleum (Exploration and Production) Policy 2012.…
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In a recent development, the government has given the green light to a substantial increase petrol price, leaving consumers grappling with the impact on their daily lives. According to official notifications, the price of petrol per liter has witnessed a staggering rise of Rs. 13.55 taking it to the new price of Rs. 272.89. This move has sparked a wave…
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