The gas supply crisis in Karachi is impacting every segment of society, including the city’s diplomatic community. Iran’s Consul General in Karachi, Hassan Nourian, recently shared his experiences of facing gas challenges, highlighting the difficulty of cooking meals on some nights. Nourian discussed the energy needs of Pakistan and the long-delayed gas pipeline project between Iran and Pakistan during the…
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The Power Division has urgently requested the disbursement of approximately Rs130 billion to cover subsidy payments for K-Electric and Azad Jammu & Kashmir (AJK). This request, along with other supplementary grants from various ministries, is set for approval by the Economic Coordination Committee (ECC) of the Cabinet, to be chaired by Finance Minister Muhammad Aurangzeb. The Power Division’s foremost request…
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The Pakistan Business Council (PBC) has directed the Special Investment Facilitation Council (SIFC) to prioritize the transformation of Pakistan’s investment climate, especially to attract foreign direct investment (FDI). In a letter, Ehsan Malik, CEO of PBC, urged SIFC to address fragmentation within key ministries and promote long-term policy predictability. Malik emphasized the importance of learning from existing investors’ experiences, highlighting…
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In a significant development, Engro Corporation Ltd (Engro Corp) and Dawood Hercules Corporation Ltd (DH Corp) have given initial approval to a restructuring plan aimed at optimizing investment opportunities within the enterprise. The proposal, subject to final board and shareholder approvals, has been formally communicated to the PSX on Monday. This strategic restructuring aims to synergize investment efforts between Engro…
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[ ISLAMABAD : May 06,2024 ] Press Release Federal Minister for Petroleum Dr Musadik Malik and Federal Minister for Power Awais Leghari held a meeting with Mr Martin Raiser, South Asia Regional Vice president of World Bank. Both sides exchanged their ideas regarding reforms agenda and discussed in detail the support World Bank is providing to Pakistan in form of…
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ISLAMABAD: Gas companies in Pakistan are facing mounting concerns over the management of natural gas flows, particularly a significant reduction of 350 million cubic feet per day (mmcfd) from local fields since the second week of March. This reduction, aimed at managing gas pressure in the pipeline distribution system, has sparked worries among exploration and production (E&P) companies about potential…
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KARACHI: Minister for Energy, Planning, and Development Syed Nasir Shah unveiled insights from South African experts regarding the versatile potential of Thar Coal Block-II during a recent meeting. Experts highlighted the coal’s suitability for gasification, fertilizer production, and generating gas and diesel. However, their primary recommendation emphasized using the coal for power generation through gasification. Shah announced plans to send…
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KUNRI: Residents of Khalid Colony are living in constant fear due to the hazardous state of Hyderabad Electric Supply Company (HESCO) installations in their densely populated area, posing a severe threat to lives and property. The perilous condition of electricity transformers placed dangerously close to residential buildings, coupled with dangling electric meters and exposed high-voltage lines, including an 11,000-volt mainline,…
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The ongoing debate over solar power pricing in Pakistan underscores a delicate balance between advancing renewable energy goals and ensuring economic feasibility. Net metering, a billing method enabling consumers to utilize self-generated power, particularly from solar panels, has gained prominence. Pakistan, with a solar power potential of 40GW and a target to source 20% of its electricity from renewables by…
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A significant Saudi delegation, led by Deputy Investment Minister Ibrahim Almubarak, has landed in Islamabad for a three-day visit focused on exploring investment opportunities. Pakistan is keen on attracting foreign investments, particularly from Saudi companies, to bolster its exports and economic growth. The delegation received a warm welcome from Commerce Minister Jam Kamal and Petroleum Minister Musadik Malik upon arrival…
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