KARACHI: Local refineries are reluctant to import the Russian crude oil as the global prices of furnace oil, a by-product of the Russian oil, have plunged, industry sources told The News on Tuesday. “We need the Russian crude oil at a discounted price because the price for the earlier cargo is not feasible in the present times when the furnace…
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ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar Tuesday stressed upon focusing the climate resilience and climate finance aspects in all the water projects of Balochistan and reiterated that progress and prosperity of the people of province were among the top priorities of the government. The caretaker prime minister chaired a review meeting on the important matters pertaining to the Balochistan province.…
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Gives fertiliser plants LNG worth Rs15b to be recovered from consumers ISLAMABAD: In the face of resistance from the Sindh province, the caretaker government is aiming to recoup Rs232 billion, representing the cost of diverting expensive Liquified Natural Gas (LNG) supply to domestic consumers from January 1, 2024. The gas utility, Sui Northern Gas Pipelines Limited (SNGPL), had redirected costly…
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ISLAMABAD: The Central Power Purchasing Agency (CPPA) has sought a massive Rs4.66 per unit fuel cost adjustment (FCA) for an increase in ex-Wapda distribution companies (Discos) to generate additional amount in January 2024. The National Electric Power Regulatory Authority (Nepra) will hold a public hearing today (Wednesday 7 December 2023) on the CPPA-G’s request. In a petition, the CPPA acting…
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PPIB, CERAD and Huawei Pakistan on December 19, 2023 jointly unveiled the White Paper on Arc Fault Circuit Interrupter (AFCI) for Photovoltaic (PV) systems, marking a significant stride in realm of solar power technology.The launch, a result of collaborative efforts with Private Power & Infrastructure Board (PPIB) and the Center for Advanced Research in Engineering and Development (CERAD), is poised…
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LAHORE: With elections round the corner the expected economic turnaround has not yet taken place despite complete adherence of the last elected and the current caretaker governments to the recipe suggested by the International Monetary Fund. The economic fundamentals have somewhat improved but the miseries of the public at large have intensified. The electorate at the time of election is…
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MOSCOW: Foreign shareholders suspended participation in the Arctic LNG 2 project due to sanctions, renouncing their responsibilities for financing and for offtake contracts for the new Russian liquefied natural gas (LNG) plant, the daily Kommersant reported on Monday. The project, seen as a key element in Russia’s drive to boost its LNG global market share to 20 percent by 2030…
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ISLAMABAD: After a decades-long delay, the National Electric Power Regulatory Authority (Nepra) has started granting first-ever separate licences of Suppliers of Last Resort (SoLR) to existing distribution companies (Discos) for 20 years to bifurcate their distribution (wire & pole infrastructure) and electricity supply (commercial & billing etc) businesses for future bilateral competitive power business. This should have happened in the…
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KARACH/MIRPURKHAS. (Dec 25) Caretaker Chief Minister Sindh Justice (Retd) Maqbool Baqar, Federal Minister for Power Muhammad Ali and Secretary Power Division Rashid Mahmood Langrial addressed the ceremony of declaring Mirpurkhas load-shedding free at Mirpurkhas Spreading Engineer HESCO office through a video link here on Monday. Additional Secretary Power Division Hasan Naqvi, Chief Executive Officer Bashir Ahmed Gujjar, Chairman HESCO BOD…
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COP28 climate talks have ended with so much discussion and debate and have some useful conclusions. But it all requires finance. Things do not work out by just words. I wish if the financial zeal to allocate and spend money had been as strong as the discussion has been. Unfortunately, this has not been the case. It is hoped that…
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