Paris: The International Energy Agency said Friday it had revised upwards its forecast for global oil demand growth in 2023 as demand is “scaling record highs”. World oil demand already hit a record 103 million barrels per day in June and August and “could see yet another peak”, the Paris-based IEA said in its monthly report. “For 2023 as a…
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K-Electric plans to boost renewable energy share to 30 percent by 2030
KARACHI: K-Electric, the sole power distributor in the port city of Karachi, expects to keep electricity tariffs stable for consumers as it plans to increase the share of renewable energy in its generation mix, company officials said on Friday. The company plans to invest Rs484 billion over the next seven years to add 30 percent renewable energy in its overall…
Read MoreMOU between Pakistan Mineral Development Corporation and Miracle Saltworks Collective Inc. for Export Quality Pink Rock Salt Crushing & Packaging Facility
Islamabad, Pakistan – August 11, 2023: As a part of building mineral driven economy by GoP, Pakistan Mineral Development Corporation (PMDC) under the control of Ministry of Energy (Petroleum Division) and Miracle Saltworks Collective Inc. (MSCI), based in Wisconsin, USA, have embarked partnership with the signing of a Memorandum of Understanding (MoU). This non-binding MOU envisages to establish a state-of-the-art…
Read MoreKUWAITI-BASED ENERTECH HOLDING EXPLORES COLLABORATION WITH K-ELECTRIC IN ACCELERATING GREEN ENERGY TRANSITION.
Karachi, August 11, 2023: “Pakistan’s energy landscape is rapidly changing, and clean energy is increasingly taking center stage. At EnerTech Holding, we have been exploring various markets and identifying partners in leading utilities with whom we can collaborate and catalyze the transformation. We’re very pleased to see K-Electric’s ambitions for Karachi and its alignment with the country’s renewable energy vision.…
Read MoreLONGi’s products have obtained the verification of carbon footprints
What is a carbon footprint? It generally refers to the total amount of greenhouse gases, either directly or indirectly, emitted from individuals, organizations, activities or products throughout their entire lifecycles. With climate changes becoming the focus of the world, major companies are increasingly concerned about the impact of their carbon footprints on the environment and society. As a global leader…
Read MoreWAPDA organizes seminar on impact evaluation of climatic changes on water resources
August 10, 2023: WAPDA organized a seminar on “Impact Evaluation of Climatic Changes on Water Resources in collaboration with World Bank at WAPDA House today. Chairman WAPDA Engr Lt Gen Sajjad Ghani (Retd) was the chief guest. The seminar was attended by Vice Chancellor University of Engineering and Technology Lahore Prof. Dr. Habib ur Rehman, Senior Social Development Specialist, World Bank…
Read MoreNepra dismayed by higher Lesco losses
ISLAMABAD: The power sector regulator, National Electric Power Regulatory Authority (Nepra) has expressed total dissatisfaction over the performance of Lahore Electric Company Limited (Lesco) and stated that its losses are significantly higher against the allowed losses by Nepra. During a public hearing on a petition filed by the Lesco for allowing multi-years’ tariff from the fiscal year 2023-24 to 2027-28…
Read MoreNeelum Jhelum Hydropower Project Resumes Electricity Generation Federal Minister for Water Resources inaugurates electricity resumption
August 9, 2023: Subsequent to completion of restoration works in the tail race tunnel, Neelum Jhelum Hydropower Project has resumed electricity generation. Federal Minister for Water Resources Syed Khursheed Ahmed Shah visited Neelum Jhelum Hydropower Project and resumed the electricity generation by pressing the button. He also unveiled a plaque to mark resumption of electricity generation from the project. At…
Read MoreConference on climate emergency and urban transportation
World leaders gathering in Dubai for COP-28 this year to fully support Pakistan due to its serious climate risk: UAE Consul General Karachi: The concerned world community assembling at the United Nations Climate Change Conference-2023 (COP-28) to be held in Dubai later this year is sure to provide special financial assistance to Pakistan keeping in view its serious vulnerability due…
Read MoreUpdated CDMP as per SBA yet to be approved
ISLAMABAD: The pledge for the Cabinet to approve an updated Circular Debt Management Plan (CDMP) by end-July 2023 as stipulated in the Memorandum of Economic and Financial Policies section of the Stand-by Arrangement (SBA) documents uploaded on the International Monetary Fund website on 12 July 2023 has yet to be met. The updated CDMP envisaged clearance of circular debt stock…
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