Stresses need for local private sector to take leading role in financing these projects LAHORE: The Pakistan Solar Association (PSA) has pledged its commitment to collaborate with the government of Pakistan to achieve the ambitious goal of generating 60% renewable electricity by 2030. The announcement was made by PSA Chairman Amir Chaudhry at the ‘Lets Grow Together’ event on Friday.…
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Lender doesn’t agree with growth, CAD projections ISLAMABAD: The International Monetary Fund (IMF) has revised Pakistan’s foreign loan requirements to $25 billion for this fiscal year — reducing it by $3.4 billion — and also lowered the economic growth projection to just 2%, turning down the government’s external as well as macroeconomic forecasts. Finance ministry sources said the IMF had…
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ISLAMABAD: The Asian Development Bank (ADB) on Friday announced that it had approved $250 million in loans to Pakistan for improving its power transmission network in Punjab and Khyber Pakhtunkhwa to ensure reliable electricity supply. The project is aimed at helping the country achieve national grid stability, energy security, climate resilience and increased transmission capacity to deploy sufficient, reliable, clean,…
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• Annual change in SPI crosses 40pc for first time since early June• Gas charges rocket 1,100pc year on year ISLAMABAD: A massive increase in gas prices drove the annual short-term inflation to above 40 per cent for the first time in over four months, official data showed on Friday. The inflation reading stood at 41.9pc for the week ending…
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A four-wheel EV manufacturer yet to approach govt for license under EV policy In Pakistan, 32 companies have so far received manufacturing licenses under the Electric Vehicles (EVs) Policy 2020–2025 and all of them are two and three wheeler manufacturers, a govt official told Business Recorder on Friday. No four wheel manufacturer has approached the government till date for the license under…
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Ginlong (Solis), a renowned manufacturer of photovoltaic (PV) inverters and the world’s third-largest player in the solar energy sector, recently made a significant impact on Uzbekistan’s energy transition strategy. The company showcased its innovative solutions at the XVII International Exhibition UzEnergyExpo and the XII International Exhibition UzStroyExpo, both of which are well-attended by experts from the energy and construction industries.…
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ISLAMABAD-Chief Executive Indus Motor Company Ali Asghar Jamali has said that IMC has been using the largest solar plant by any automobile company in the country with 4.5MWs energy generation as they are committed to increase green energy’s share in their overall energy consumption.He was speaking at the “Champions of Change: A Dialogue with the Private Sector” conference held here…
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Islamabad-Pakistan Refinery Limited (PRL) has become the first one to sign agreement with Oil and Gas Regulatory Authority (OGRA) and under Brownfield Refinery Policy, while other have refused to go ahead with a plan owing to differences over draft of agreement.In a landmark development aligning with Pakistan’s refining policy, the Oil and Gas Regulatory Authority (OGRA) and Pakistan Refinery Limited…
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Built in a single phase, it generates enough electricity to power almost 200,000 homes, displacing 2.4 million tonnes of carbon emissions every year Published: Thu 16 Nov 2023, 10:33 PM Last updated: Thu 16 Nov 2023, 10:34 PM The world’s largest single-site solar power plant has been inaugurated in Abu Dhabi ahead of the UAE hosting COP28. Located 35km from the city,…
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Caretaker Finance Minister Dr Shamshad Akhtar has said that the government is taking restructuring measures in the Federal Board of Revenue (FBR) to ‘remove the apparent conflict of interest in tax collection’ as well to enhance the taxmen’s performance. “We have developed an action plan for restructuring Pakistan’s tax administration,” Akhtar said while speaking virtually at The Future Summit organised…
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