Pakistan has already inked deal for buying one LNG cargo per month ISLAMABAD: Azerbaijan has emphasised that Pakistan should resume imports of liquefied natural gas (LNG) from the Central Asian nation to meet its growing domestic consumption needs. Earlier, during the tenure of the Pakistan Democratic Movement (PDM) government, the two sides signed an agreement for import of at least…
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Draw govt’s attention towards forex burden, LC confirmation costs ISLAMABAD: Oil refineries have called on the government to make full recovery of the actual currency exchange losses and the confirmation cost of Letters of Credit (LCs). Pakistan’s oil refineries are currently grappling with substantial currency exchange losses in the import of crude oil, compounded by a significant financial burden from…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday imposed a fine of Rs50 million each on five power distribution companies including K-Electric for carrying out commercial-based excessive loadshedding in violation of laws penalising honest consumers. It is for the first time the regulator has moved from issuing warnings against collective punishments in the power sector which started more…
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ISLAMABAD: Despite massive repetitive price shocks to consumers and countrywide drive against theft and billing defaults, the World Bank has found power and gas circular debts increasing by an average of Rs135 billion to Rs5.5 trillion (about 5.1pc of GDP) by end-January this year and wants the government to do more to recover true cost of supply. “The government has…
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Enercap Holdings is pushing the adoption of innovative non-chemical batteries that it has designed to drive sustainable energy storage solutions. Headquartered in Dubai, Enercap has long been at the forefront of technological advancements in the energy industry, and its recent innovations marks a major milestone in the company’s journey towards a more sustainable future. Unlike traditional lithium-ion batteries that rely on chemical processes, Enercap’s…
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Government’s Special Initiative to Provide Off-Grid Power Solutions to 20 Backward Districts The Ministry of Planning, Development, and Special Initiatives has launched the “Special Development Initiative for Poor Districts of Pakistan,” targeting 20 underdeveloped districts across the country. These districts, selected based on high Multidimensional Poverty Index (MPI) scores, span Balochistan, Sindh, Khyber-Pakhtunkhwa, and Punjab. The initiative aims to provide…
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After the announcement of a finalized deal between Shell Pakistan Ltd’s parent company and a Saudi Arabian group, local investors have withdrawn their plans to acquire a stake in the company. Pakistan Refinery Ltd (PRL) and Air Link Communication Ltd, two interested local investors, officially communicated their withdrawal to the Pakistan Stock Exchange (PSX), marking the end of their bid…
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Despite efforts to address billing defaults and theft, Pakistan’s power and gas circular debts have surged, reaching Rs5.5 trillion by January, as reported by the World Bank. The bank emphasizes the need for more extensive reforms to align tariffs with the true cost of supply. Structural issues, subsidies, and inefficiencies have led to significant deficits, affecting supply reliability. The World…
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Devcom-Pakistan Centre for Geopolitical Studies Executive Director Munir Ahmed said at a webinar that Pakistan’s Failure to advance gas pipeline projects has sparked national and international concerns. Iran sleeves up to drag Pakistan into the Internal Court of Justice (ICJ) by September 2024 for a $18 billion penalty. TAPI dusting the shelves for three year after a comprehensive feasibility report…
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Minister for Power Sardar Awais Ahmad Khan, engaged in a dialogue with a delegation from the All Pakistan Textile Mills Association (APTMA). During this meeting, APTMA officials expressed their concerns regarding the dwindling exports within the textile sector, which has led to rising issues like unemployment and poverty. In response, the Minister reassured the delegation of the Government’s unwavering commitment…
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