At least 30 times as much lithium, nickel and other key minerals may be required by the electric car industry by 2040 to meet global climate targets, according to the International Energy Agency (IEA). These metals are among a handful that are considered vital in the manufacture of solar panels, wind turbines and other clean energy technologies. Overall, the Paris-based organisation says…
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The local liquefied petroleum gas (LPG) industry has called for formation of an inquiry commission to probe the windfall gains reaped by LPG importers, which have caused losses worth billions of rupees to the local industry and the national exchequer due to disparity in taxes. The industry has also urged the prime minister to take notice of the situation and…
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Stocks on Wednesday barreled ahead for second day on reports that renegotiation of IMF program and release of private power producers’ dues were in the offing, dealers said. Pakistan Stock Exchange’s (PSX) KSE-100 Shares Index gained 0.85 percent or 380.02 points to close at 44,943.61 points. Participation improved to 259.86 million shares from 221.50 million on Tuesday. Amreen Soorani at…
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The Economic Coordination Committee (ECC) here on Wednesday made the government intention clear of taking over K-Electric if the utility company continues to avoid signing power purchase agreement (PPA). Regarding the power purchase agreement with K-Electric, the cabinet member said that after repeated failure of Power Division to sign agreement with the power utility, the ECC constituted a four member…
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In a positive sign, the number of registrations for the coronavirus vaccine have been increasing significantly as over 200,000 people got vaccinated against the virus on Tuesday, said Federal Minister for Planning and Development Asad Umar. Taking to Twitter on Wednesday, the federal minister noted that the number of registrants of the coronavirus vaccines in the country has exceeded the…
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Economic Coordination Committee of the Cabinet (ECC) has approved payment of first installment to 35 Independent Power Producers (IPPs) out of total 47 whereas payment to the remaining 12 IPPs (under Power Policy 2002) may be withheld owing to the NAB investigation. Federal Minister for Finance and Revenue Shaukat Tarin chaired the meeting on Wednesday. Power Division presented a summary…
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KARACHI: KARACHI: Pakistan Petroleum Limited (PPL) has commenced commercial gas production from Benari Development and Production Lease (Benari D&PL) in Shah Bandar Block with effect from May 3, 2021, a bourse filing said on Tuesday. The block is located in districts Thatta and Sujawal, Sindh and lies in the southernmost part of the Lower Indus basin. Benari X-1 well in…
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The government was taking tangible measures to resolve issues pertaining to low voltage and frequent disruption of power supply in Malakand division. As part of such efforts, three projects would be undertaken in different districts of Malakand division to improve voltage and provide uninterrupted power supply to domestic, industrial and agricultural consumers. Engr Malik Luqman Khan, KP Energy Department’s senior…
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Karachi: Total loans under the SBP’s financing scheme for renewable energy amounted to Rs36 billion as of February as the scheme has evolved over time and received strong response, the central bank governor said on Tuesday. As of February 2021, financing of around Rs36 billion have been extended for 521 projects producing approximately 850 megawatts, the State Bank of Pakistan…
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KARACHI: Sindh governor Imran Ismail on Tuesday visited K-Electric’s Bin Qasim Power Station-III (BQPS-III) project to review the progress on the latest addition to Karachi’s power network. The visit followed a meeting between KE’s senior leadership and the Governor Sindh where KE presented an update on the company’s preparedness for Ramazan and the 2021 summer season, said a spokesperson of…
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