ISLAMABAD: The petrol price is estimated to decline by about Rs9-10 per litre on Jan 15 for the next fortnight due to a combination of lower international prices, exchange rate gains and a decline in premium. High-speed diesel (HSD) is also expected to be cheaper by around Rs2 per litre. Informed sources said the prices of all petroleum products had…
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WASHINGTON: The IMF Executive Board’s decision to disburse around $700 million to Pakistan reflects a positive review of the country’s economic reform programme. While economic activity has stabilised, challenges persist, contingent on the effective implementation of sound policies. Macroeconomic conditions have shown improvement, with a projected two per cent growth in FY24. The fiscal position strengthened in 1QFY24, achieving a…
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A joint venture company Pak China Huazi Green Energy (Private), organized an Electric Vehicle (EV) training session here with the cooperation of National Skills University (NSU). Talking to media, Khalid Mahmood, CEO of Huazi Green Energy said the two-day EV Repair and Maintenance Introductory Course this week, showcased the collaborative efforts between NSU and Pak-China Huazi Green Energy Pvt Ltd.…
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The concerned distributors of renewable energy equipment in the country have urged the Pakistan Solar Association (PSA) to establish a dedicated complaint cell to take up the issues faced by the end-users in the country due to unchecked import of unauthorised solar power equipment through the grey channel.“The bona fide distributors and EPC contractors in the Pakistani market who have…
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KARACHI: The ministry of Energy has provisionally awarded four new oil and gas exploration blocks to three local companies, according to a stock exchange filing by one of the winners on Thursday. Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Pakistan Oilfields Limited (POL) won the blocks in a competitive bidding round held by the government…
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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved 2.0 percent transmission line losses to Sindh Transmission and Despatch Company (STDC) from its Commercial Operation Date (COD), i.e, January 18, 2018 after Sindh government made hue and cry over the delay in the decision. The NEPRA awarded the Transmission License to STDC on December 17, 2015 under Section 19…
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CAIRO (Egypt): The Apex Committee of the Special Investment Facilitation Council (SIFC) has approved an energy tariff of nine cents for the industrial sector against the current rate of 14 cents and the matter will be taken in the next Cabinet meeting. This was stated by caretaker Federal Minister for Commerce and Industry Dr Gohar Ejaz while talking to Business…
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ISLAMABAD: In a major setback, no bid was received for setting up a 600-megawatt solar power project at Muzaffargarh despite multiple revisions in incentives and extensions in deadlines given by the Private Power & Infrastructure Board (PPIB) — a one-window power sector entity of the federal government. This was the first pilot project for the acquisition of renewable energy through…
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WASHINGTON: In a significant development, the Executive Board of the International Monetary Fund (IMF) announced on Thursday that it had successfully concluded the first review of Pakistan’s economic reform programme, backed by the Stand-By Arrangement (SBA), paving the way for an immediate disbursement of SDR 528 million, equivalent to approximately $700m. This latest disbursement brings the cumulative total under the arrangement to…
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Karachi Atif Ikram Sheikh, President FPCCI, has stressed that the 27-country economic alliance of European Union – with a cumulative GDP of almost $20 trillion – can help Pakistan steer out of the chronically dilapidated state of the economy of Pakistan; and, enhancing our exports to the EU nations should be the cornerstone of broader economic relations. Pakistan has achieved…
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