Pakistan LNG Limited (PLL) has extended validity for liquefied natural gas (LNG) supply bids, being sought from international traders, from September 2, 2022 to October 3, 2022 keeping in view high prices of gas in global market and poor response from suppliers, say sources. As Pakistan is facing acute energy shortages, PLL sought a six-year LNG supply contract from international…
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The federal government has missed its pledge to the International Monetary Fund (IMF) to increase the prescribed average gas price by some 45 percent to Rs 928 per mmbtu by end August 2022. This was stated in the staff level report on the combined seventh and eighth reviews under the Extended Fund Facility (EFF) for Pakistan released on Friday. The…
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he government has assured the International Monetary Fund (IMF) that it will continue adjustments in power tariffs for domestic consumers sans protected slabs and also rationalize subsidy plan for tubewells for large agricultural users by November 2022. This commitment has been given to the Fund under the Seventh and Eighth Review of the extended arrangement under the Extended Fund Facility.…
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The government has committed more utility price shocks under a straightjacket implementation plan with the International Monetary Fund (IMF) involving an over 53 per cent increase in gas rates, the revival of general sales tax on petroleum products and withdrawal of more subsidies. The IMF released a detailed 112-page country report on Friday on the completion of the seventh and…
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GoodWe donated it’s latest SDT G2 10kW inverter to Energy Training and Research Center-ETRC, one of the most prestigious training schools in Pakistan. GoodWe Pakistan’s Technical Services Manager, Mr. Ahmad Rafay Asad and ETRC Founder Mr. Faiz Bhutta participated in the ceremony and gave technical training to the Academy. With such initiatives, GoodWe aims to help the next generation of…
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In the H1 of 2022, LONGi’s operating performance increased steadily, achieving a consolidated operating revenue of 50.417 billion yuan, a year-on-year increase of 43.64%. The net profit attributable to the shareholders of the listed company was 6.481 billion yuan, up 29.79% year on year, among which the net profit attributable to the shareholders of the listed company excluding non-recurring gains…
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Dr Shamshad Akhtar, Former Finance Minister, criticized insufficient financial cooperation extended by leading greenhouse gas emitters to climate change vulnerable countries and said “climate change mitigation and adaptation annually requires 7-14 Billion which is well beyond Pakistan’s financial constraints”. She was speaking at the first “Annual State of Renewables Conference 2022” organized by Sustainable Development Policy Institute (SDPI) in collaboration…
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Prime Minister Muhammad Shehbaz Sharif on Thursday green-lighted the construction of solar plants having a combined capacity of 10,000 MW, as the government strives to save valuable foreign exchange that is being used to import fuel. “Instead of generating electricity by importing expensive oil from abroad, electricity should be generated from solar energy,” said the PM during a meeting, according…
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Cnergyico Pk Limited (formerly Byco Petroleum), Pakistan’s largest vertically integrated oil refining company, is supporting relief efforts to assist the people who have been affected by the catastrophic floods in Balochistan. The recent spell of torrential rains has taken a heavy toll on the country, particularly on parts of Balochistan where thousands of precious lives have been lost while people’s…
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The Oil and Gas Development Company Limited (OGDCL) has sent 180 food packages to flood affectees of Ghotki and Sanghar districts of Sindh, it said on Wednesday. In the wake of massive flash floods that wreak havoc in various parts of the country, OGDCL has continued its flood relief activities under its corporate social responsibility, the company said. The recent…
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