The Punjab government’s recent decision to provide a Rs. 14 per unit subsidy on electricity bills for consumers using 201 to 500 units per month has sparked concerns about its sustainability and potential scrutiny from the International Monetary Fund (IMF). This relief measure, amounting to Rs. 45 billion, is intended to ease the financial burden on consumers during the peak…
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ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday issued strict directives to combat corruption within the power sector, particularly targeting dishonest practices in distribution companies (Discos). During a high-level meeting to review the power ministry’s performance, the Prime Minister reaffirmed his government’s commitment to curbing electricity theft, reducing line losses, and enhancing the power distribution system nationwide. Highlighting recent efforts to…
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TOKYO, Aug 19 (Reuters) – Oil prices eased in early Asian trading on Monday as fears of weaker demand in top oil importer China weighed on market sentiment while investors focus on the progress of ceasefire talks in the Middle East, which could reduce supply risks. Brent crude futures dropped 13 cents, or 0.2%, to $79.55 per barrel by 0032 GMT. U.S.…
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ISLAMABAD: The Private Power and Infrastructure Board (PPIB) is preparing to extend Letters of Intent (LoIs) for 12 months for three category-III solar PV projects. The decision was made during a recent Projects Committee meeting, chaired by the Additional Secretary of the Planning Division. The LoIs, initially issued to RE Solar I (Pvt) Limited, RE Solar II (Pvt) Limited, and…
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KARACHI: Environmentalists are calling for urgent measures to safeguard mangrove forests, emphasizing their essential role in supporting marine life and sequestering carbon. These unique ecosystems, found in coastal regions such as Karachi, Keti Bandar, Thatta, Sujawal, and parts of Balochistan, are critical nurseries for fish, crabs, and shrimp, and can capture up to four times more carbon than other coastal…
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ISLAMABAD: Hungarian oil and gas company MOL has announced a significant hydrocarbon discovery at an exploratory well in the Kohat district of Khyber Pakhtunkhwa. The discovery was made in the Razgir-1 Exploratory well, part of the TAL Joint Venture, which MOL operates. The joint venture includes MOL Pakistan Oil & Gas Co. B.V. as the operator, alongside its partners, Oil…
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KARACHI: The Pakistan Business Council (PBC) has raised alarms about an increasing trend of multinational companies (MNCs) planning to relocate their back offices from Pakistan, with several already having done so recently. This shift is largely attributed to widespread internet disruptions caused by the reported imposition of a firewall, severely impacting business operations. The warning coincides with a report from…
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ISLAMABAD: In a positive development for consumers, government-owned power distribution companies (Discos) are seeking a refund of Rs 4.5 billion to be reflected in September bills. This comes as the Central Power Purchasing Agency (CPPA) has requested a 31 paise per unit reduction in the fuel cost adjustment (FCA) for electricity consumed in July. The CPPA’s petition to the National…
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Karachi: The Sindh cabinet has approved allotting 250 acres of land in the Manjhand area in District Jamshoro for setting up a solar park having a generation capacity of 500 MWs of clean electricity.The provincial cabinet, whose meeting was chaired by the Sindh Chief Minister Syed Murad Ali Shah, also approved allotting 612 acres of land in District Central of…
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Karachi: The Sindh cabinet has granted approval to the formation of the Sindh Electric Power Regulatory Authority (SEPRA) to set up Pakistan’s first-ever provincial-level regulator for electricity affairs in line with the 18th Constitutional Amendment.The cabinet meeting was chaired by Sindh Chief Minister Syed Murad Ali Shah. On June 7, 2023, the Sindh Assembly unanimously passed the Sindh Regulation of…
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