TEHRAN – Energy ministers of Iran and Pakistan met and held talks on the sidelines of the Third Belt and Road Ministerial Conference held in Qingdao, China. In this meeting, Abbas Ali-Abadi and Sardar Awais Leghari discussed future collaboration, particularly focusing on the development of electricity projects in border regions, IRNA reported. In this regard, Awais Leghari underscored the importance…
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The Board of Directors of OGDCL, in its meeting held on Friday, October 25, 2024, in Islamabad, announced the financial results for the quarter ended September 30, 2024. The company reported net sales revenue of Rs. 106.01 billion, with a profit after tax of Rs. 41.019 billion, translating to earnings per share (EPS) of Rs. 9.54.The Board announced a first…
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EV Sales Growth: EV Penetration Rate: China New Energy Vehicle (NEV) Sales Breakdown: Source: Michael Dunne Key Takeaways:
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KARACHI: The National Electric Power Regulatory Authority (Nepra) on Tuesday hiked the per unit price of electricity by Rs3.76 per unit on account of quarterly fuel adjustment. According to a notification issued by the power regulator, the increase will be applicable for three months this year — June, July and August. As a result of the latest hike in electricity…
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KARACHI (Oct 24): Sindh Chief Minister Syed Murad Ali Shah and Federal Minister of Communication Aleem Khan, during their meeting at CM House, agreed to build a M6 Motorway not from Hyderabad to Sukkur but from Karachi to Sukkur via Hyderabad. They agreed to explore the possibility of constructing the motorway through a Public-Private Partnership (PPP) or a consortium to…
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KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani has appealed the government to immediately reinstate six working days for federal and provincial governments and all their relevant authorities, institutions, and departments to uplift the economy and facilitate trade and industry.In a letter sent to Prime Minister Shehbaz Sharif, President KCCI stated that since 2011, the business…
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ISLAMABAD: The Ministry of Finance (MoF) has expressed reservations over the Power Division’s proposal to legalise revenue-based load shedding, arguing that the plan lacks sufficient data to justify its economic benefits, according to sources cited by Business Recorder. Currently, power Distribution Companies (Discos) and K-Electric (KE) enforce economic load shedding as per the Power Division’s policy, which lacks legal backing…
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KARACHI: Power generation in Pakistan dropped by 6.4% to 12,487 gigawatt-hours (GWh) in September, compared to the same month last year. The decline was driven by rising energy costs, an increase in off-grid solar power production, and weakening demand from struggling industrial sectors. This reduction in demand for national grid power is expected to raise the capacity payment burden on…
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The Oil and Gas Development Company Limited (OGDCL) has secured the prestigious Corporate Excellence Award 2024 in the Oil and Gas Exploration category. The accolade, organized by the Management Association of Pakistan (MAP), highlights OGDCL’s outstanding management practices and unwavering commitment to operational excellence in the energy sector. Mr. Javed Raza Soomro, General Manager (Production) at OGDCL, received the award…
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ISLAMABAD: In the first quarter of fiscal year 2024-25, Pakistan attracted $404 million in foreign direct investment (FDI) from China, with a notable contribution of $224.8 million in September alone. According to the latest statistics from the State Bank of Pakistan (SBP), the country received a total of $903.5 million in FDI from various countries between July and September 2024,…
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