News about switching to greener energy sources is always good news, and this certainly counts: The world’s largest wind turbine constructed to date is now up and running and contributing to the power grid in China. The MySE 16-260 earns its largest-ever tag thanks to its rotor diameter of 260 meters (853 feet) and its swept area of 53,902 square meters (580,196 square feet);…
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ISLAMABAD: Describing the failed four-year Extended Fund Facility (EFF) as a “missed opportunity”, the IMF blamed both the PTI and PDM, particularly under the economic stewardship of Shaukat Tarin and Ishaq Dar, for irresponsible budgetary expansion and exchange rate interventions, respectively. The IMF staff report released after the signing of the $3 billion Standby Arrangement detailed step-wise ‘stop and go’ cycles of the…
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KARACHI: Petroleum dealers will meet Minister of State for Petroleum Musadik Malik on Monday (today) for an agreement on increasing their profit margin. The dealers are seeking a bigger share in the petroleum revenue and had threatened to shut petrol stations across the country if their demands are not met. On Friday, the strike was deferred for two days after…
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ISLAMABAD: Prime Minister Shehbaz Sharif has approved bifurcation of Peshawar Electric Supply Company (PESCO) into two Distribution Companies (Discos) i.e. Pesco and HAZECO, official sources told Business Recorder. Sharing the details, sources said, in 1998, pursuant to the strategic plan for WAPDA, approved by the Council of Common Interest in 1993, WAPDA’s Power Wing was restructured by creating independent power generation,…
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ISLAMABAD: Ministry of Energy (Petroleum Division) has directed Sui Northern Gas Pipeline Limited (SNGPL) to supply gas/RLNG to five export-oriented sectors without any subsidy. In a letter to Managing Director, SNGPL, Directorate General of Gas (Petroleum) Division has informed that no subsidy has been budgeted for five-export-oriented sectors during the current financial year by the government, therefore, SNGPL may raise…
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BAMBOLIM, India, July 21 (Reuters) – Major fossil fuel producers, including Saudi Arabia and Russia, on Friday opposed a proposal to triple G20 countries’ renewable energy capacity by 2030, three sources said. China, the world’s biggest emitter of carbon dioxide, as well as coal exporters South Africa and Indonesia, also opposed the plan. India, as current holder of the G20…
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KARACHI: The Pakistan Petroleum Dealers Association (PPDA) has agreed to suspend a planned strike until July 24 (Monday) after reaching an understanding with the government on increasing their margins. State Minister for Petroleum Dr Musadiq Malik held a meeting with the PPDA and agreed that there should an upward “reasonable revision” in dealers’ margins. After hours long parleys, the association…
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LAHORE: The Pakistan Solar Association (PSA) has claimed that there have been no alterations to the timings for peak and off-peak hours. According to a spokesperson of the association, PSA has been inundated with inquiries from member companies and stakeholders within the Pakistan solar industry concerning purported changes to the time of use tariff for customers of DISCOs (distribution companies).…
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ISLAMABAD: The federal government has taken swift action to address consumer-end tariff recommendations of power distribution companies (Discos), including K-Electric. The government has filed an ‘Instant Motion’ with the National Electric Power Regulatory Authority (Nepra) aiming at establishing a uniform schedule of tariff for power consumers by incorporating targeted subsidies and rationalising inter-distribution companies’ tariffs. Notably, on July 14, Nepra…
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KARACHI: China’s Shanghai Electric Power Company (SEP) has expressed renewed interest in acquiring K-Electric (KE), the integrated power firm based in Karachi, Pakistan. This latest submission comes after the previous intention to buy the company lapsed in June, due to unresolved issues that have persisted for eight years. SEP had first expressed its intention to buy KE in 2016 and…
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