Author: Admin

Solar Conclave and Technology Excellence Awards

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Solar Conclave and Technology Excellence Awards September 3, 2024 Conference underlines maximum exploitation of solar power potential to ensure Pakistan’s energy security The concerned energy sector representatives have emphasised greater exploitation of Pakistan’s solar power potential to swiftly transition away from fossil fuel-based electricity production and end acute economic sufferings of masses due to heightened power tariff.They were speaking at a panel discussion held as part of Solar Power Conclave & Technology Excellence Awards-2024. The Energy Update organized the event in partnership with the Ministry of Energy (Power Division), Private…

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New Investment in Mining: Danish Group FL Smidth to expand their business to mining sector of Pakistan

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New-Project

In a significant development, Denmark has expressed its commitment to contribute to the modernization and investment in Pakistan’s mining industry Federal Ministers Dr Musadik Malik, Muhammad Aurangzeb, Abdul Aleem Khan, Jam Kamal Khan held a meeting with the delegation of FL Smidth headed by the CEO Mr. Mikko Keto including Chris Reinbold, president mining products, Iqrar Hussain, global key account project manager.Ambassador of Denmark to Pakistan H.E Jakob Linulf were also present. FLSmidth is a leading technology and service supplier to the global mining and cement industries.Its operations span the…

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PQEPC Explores Debt Restructuring and Thar Coal Conversion Amid Financial Struggles

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Power-sector

ISLAMABAD: Port Qasim Electric Power Company Limited (PQEPC) is actively exploring various options to address its financial difficulties, including debt restructuring, loan extensions, and converting its 1,320 MW coal-fired power plant to Thar coal. This comes amid concerns from the former Prime Minister of Qatar, Sheikh Hamad Bin Jasim Bin Jaber Al Thani, regarding unpaid dues to the company, according to well-informed sources. The company has held multiple meetings in Islamabad to discuss its financial woes, focusing on ways to alleviate the burden of debt and ensure timely payments. Discussions…

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Govt May Seek Local Bank Financing for Thar Coal Conversion Projects

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coal

ISLAMABAD: The Pakistani government is considering approaching local banks to finance the conversion of power plants from imported coal to Thar coal, as well as the expansion of Thar coal mines. This initiative, aimed at enhancing energy security and reducing fuel costs, was discussed in a recent meeting between Pakistani officials, Chinese experts, and representatives from the Chinese embassy. Led by Additional Secretary Power Division-1, Khushhal Khan, the Pakistani side emphasized that switching to Thar coal is essential for improving power generation capacity, lowering tariffs, and ensuring the financial sustainability…

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Government Seeks IMF Approval for Risky Power Tariff Reduction Plan

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IMF-board

ISLAMABAD: The Pakistani government has proposed a bold plan to the International Monetary Fund (IMF) to reduce electricity tariffs by Rs6 per unit, amounting to a total funding requirement of Rs2.8 trillion. The plan, presented over the weekend, aims to address the soaring electricity costs but relies on uncertain and risky funding sources, casting doubt on whether it will receive the IMF’s endorsement. Under the proposal, the federal government expects the four provinces to contribute Rs1.4 trillion, with the remaining Rs1.4 trillion to be sourced through additional commercial loans, cuts…

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