The World Economic Forum (WEF)’s 14th Annual Meeting of the New Champions, also known as the “Summer Davos Forum”, was held in Tianjin from June 27 to 29. Zhong Baoshen, Chairman of LONGi, was invited to the forum where he delivered speeches at the “Net-Zero Hero? The Decarbonization of Industry Clusters” and the “China Energy Transition Roundtable”. The theme of…
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Chinese Consul General at FPCCI Bilateral Trade Has Crossed Psychological Mark of $20 Billion
Irfan Iqbal Sheikh, President FPCCI, has apprised that bilateral trade volume of Pakistan with China has crossed the psychological barrier of $20 billion and stood at $20.8 billion in FY22.
Read MoreSeminar on Energy Crisis and Way Forward
Sindh Governor Karachi: Karachi needs at least four more power distribution companies like the existing K-Electric to serve the city’s power consumers in the best possible manner with maximum efficiency of service and the lowest rates of electricity.Sindh Governor, Kamran Khan Tessori, gave the suggestion to this effect while speaking as the chief guest at a seminar on Energy Crisis…
Read MoreProvisional tariff: KAPCO again moves Nepra for early approval
ISLAMABAD: M/s Kot Addu Power Company Limited (KAPCO) has again approached the power regulator for early approval of provisional tariff as National Power Control Centre (NPCC), the System Operator is repeatedly emphasizing the requirement of KAPCO units to meet system demand. In a letter to Registrar Nepra, Chief Executive KAPCO, Aftab Mahmood Butt, cited the letter of June 16, 2023…
Read MoreSpare parts for TPS-14 rehabilitation: GE warns TPS Guddu management against LC opening delay
ISLAMABAD: M/s General Electric (GE) has cautioned the management of Thermal Power Station (TPS) Guddu that any delay in opening of Letter of Credit (L/C) may have cascading effect on delivery of mandatory spare parts for necessary rehabilitation of TPS-14. In a letter to Chief Executive Officer, Central Power Generation Company Ltd, Genco-II, TPS Guddu, the Country Director M/s GE,…
Read MoreCPEC IPPs: Finance Division asks PD to adjust Rs20.726bn as advance payment
Finance Division has once again advised that Power Division may adjust the advance payments to CPEC-IPPs against next five months of FY 2023-24 ISLAMABAD: The Finance Division has asked the Power Division to adjust Rs 20.726 billion as advance payment to CPEC IPPs against next five months of current financial year (2023-24) as decided by the federal government, official sources…
Read MoreKE deliberately targeting PPP support base, alleges Imtiaz Shaikh
K-Electric is deliberately targeting areas for loadshedding where the Pakistan Peoples Party enjoys great support, said Sindh Energy Minister Imtiaz Shaikh. In a statement issued on Friday, he said that loadshedding of 14 to 18 hours had made people’s lives miserable. “Industries are being shut down and business matters have come to a standstill,” he said. The energy minister said…
Read MoreOil prices up 2 percent to 6-week high on supply concerns
NEW YORK: Oil prices climbed about 2 percent to a six-week high on Friday as supply concerns outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil. Brent futures rose $1.21, or 1.6 percent, to $77.73 a barrel by 1506 GMT. U.S. West Texas Intermediate (WTI) crude rose $1.23, or 1.7 percent, to $73.03.…
Read MoreMarketing firms told to ensure LPG at govt rate
ISLAMABAD: As the rampant black market and overpricing of liquefied petroleum gas (LPG) go unchecked, the Oil and Gas Regulatory Authority (Ogra) on Friday issued a directive to all LPG marketing companies and provinces to ensure the availability of the fuel at notified retail price. Ogra has said that it was essential for all companies operating in the LPG sector…
Read MoreImport of solar equipment halves on LC curbs
KARACHI: The State Bank of Pakistan’s curbs on opening fresh letters of credit (LCs) has restricted imports of solar panels and inverters from China from $2.4 billion in FY22 to just $1bn in FY23. This figure was last seen in FY17, which swelled to $1.8bn in FY19 after growing awareness among customers about alternative sources of energy. The central bank…
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