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Category: Highlights

Pakistan again requests China to finalize $1bn loan for Karachi-Hyderabad rail project

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Karachi-Hyderabad rail project

Pakistan has renewed its request for China to hold a critical financing committee meeting to negotiate a nearly $1 billion loan for the Karachi-Hyderabad segment of the long-delayed Mainline-I (ML-I) railway project, a key component of the China-Pakistan Economic Corridor (CPEC). The Express Tribune reported that the Pakistani embassy in Beijing issued the request last week, marking the second appeal in…

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Govt announces power relief package for winter

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Power-sector

The Power Division on Friday announced a power relief scheme — called the “Bijli Sahulat” package — offering reduced electricity rates to consumers to encourage electricity use during the low-demand winter season. On Thursday, the division also announced on X that the Nati­­onal Electric Power Regu­latory Authority (Nepra) notified an Rs1.28 per unit decrease in electricity charges due to the adjustment of…

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IPP Alleges Forced Contract Renegotiations, Offers Contract Termination

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IPPs

ISLAMABAD: M/s Sapphire Electric Company Limited (SECL) has raised concerns over what it claims to be the fourth instance of forced renegotiations of sovereign power contracts. The company’s CEO, Shahid Abdullah, suggested in a letter to Prime Minister Shehbaz Sharif that SECL would be willing to terminate its contract and forgo capacity payments if the government accepts its proposals. In…

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Pakistan Showcases Fusion Energy Research at IAEA Meeting

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Fusion-Energy

ISLAMABAD: Dr. Raja Ali Raza Anwar, Chairman of the Pakistan Atomic Energy Commission (PAEC), led Pakistan’s delegation at the inaugural ministerial meeting of the IAEA’s World Fusion Energy Group (WFEG) in Rome. During the meeting, Dr. Anwar highlighted Pakistan’s contributions to fusion energy research, sharing details of the country’s development of a glass and two metallic Tokamaks as part of…

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Pakistan has taken right measures for economic growth: Minister Petroleum

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economic growth

ISLAMABAD: Minister for Petroleum and Water Resources Musadik Masood Malik on Thursday said Pakistan was heading towards the right direction as it had successfully controlled inflation, achieved substantial growth in agriculture sector and witnessed an increase in foreign reserves.He was speaking at the concluding plenary of the four-day Sustainable Development Conference organised by the Sustainable Development Policy Institute (SDPI).Mr Malik…

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Sterling Tech-Mobility partners with Chinese firm to set EV component plant

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EV component plant

Sterling Tech-Mobility Ltd on Monday said it will set up a manufacturing facility in collaboration with Chinese firm Kunshan GLVAC Yuantong New Energy Technology for advance high-voltage DC contactors and relays for electric and hybrid vehicles in Bengaluru at an investment of Rs 40 crore. The collaboration, which is aimed at the domestic production of these auto parts, is expected…

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Oracle Power makes progress on its 1.3 GW hybrid renewable project in Pakistan

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Power project

The UK renewable developer Oracle Power has completed the transmission and grid interconnection study for a project to build a 1.3 GW hybrid renewables complex in Jhimpir, in the Sindh province of southern Pakistan. The study, which was launched in May 2024, was conducted by Power Planners International. The renewable hub, developed by Oracle Energy and China Electric Power Equipment and Technology (CET,…

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Sharif Announces 100MW Power Boost and Rs1 Billion Student Fund for Gilgit-Baltistan

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Sharif-Announces

GILGIT: During a visit to Gilgit-Baltistan (GB), Prime Minister Shehbaz Sharif announced an immediate power supply of 100 megawatts for the region and the establishment of a Rs1 billion merit-based endowment fund for students at Baltistan University and Karakoram University. In a special meeting with the GB cabinet, the Prime Minister also expressed satisfaction over the timely completion of the…

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Discos Request 48 Paisa Increase to Recover Rs8.7 Billion from Consumers for Q1

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Power-sector

ISLAMABAD: Power Distribution Companies (Discos) have filed a petition with the National Electric Power Regulatory Authority (Nepra) seeking a positive adjustment of 48 paisa per unit to recover Rs8.718 billion from consumers for the first quarter (July-September) of FY2024-25 under the Quarterly Tariff Adjustment (QTA) mechanism. The petition, filed by the Central Power Purchasing Agency Guaranteed (CPPA-G), details that Rs8.065…

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AIIB Eyes New Investment Opportunities in Pakistan’s Energy Transmission Sector

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New-AIIB

ISLAMABAD: The Asian Infrastructure Investment Bank (AIIB) has expressed a keen interest in exploring future investments in Pakistan’s energy transmission sector. During a meeting on Wednesday, AIIB Vice President Konstantin Limitovskiy met with Federal Minister for Economic Affairs Ahad Khan Cheema, discussing the bank’s ongoing projects, future pipeline, and potential financing avenues in Pakistan. Cheema acknowledged AIIB’s continued support, particularly…

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