Germany has pulled the plug on three of its last six nuclear power stations as it moves towards completing its withdrawal from nuclear power as it turns its focus to renewables. The government decided to speed up the phasing out of nuclear power following Japan’s Fukushima reactor meltdown in 2011 when an earthquake and tsunami destroyed the coastal plant in…
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Special Assistant to the Prime Minister on Poverty Alleviation and Social Protection Senator Dr Sania Nishtar on Sunday inaugurated the first-ever ginger cultivation during the Ginger Harvest Workshop held in the Balkasar area of Chakwal, Punjab. This was the first ginger harvest piloted in Pakistan. The crop was grown in 11 months. Being an essential ingredient of Pakistani cuisine, ginger…
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Refinery Limited (PRL) has announced that it will upgrade its plant to convert furnace oil into advanced quality Euro-V petrol and diesel and expand production capacity to more than double the existing one at an estimated cost of $1.2 billion. “The board of directors of Pakistan Refinery Limited in its meeting held on December 27, 2021 has decided to undertake…
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Inefficiencies of distribution companies have been considered as one of the main power sector problems, although this is not the sole issue and performance improvement alone may not allow to get rid of the problems and difficulties of the sector. Losses may at best be halved and brought to the level of 8-10%. Technical improvements such as smart meters alone…
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K-Electric has received “withdrawal” of Public Announcement of Intention (PAI) for acquisition of up to 66.40 percent voting shares of K-Electric Limited by Shanghai Electric Power Company Limited. With reference to the Public Announcement of Intention (PAI) made by Shanghai Electric Power Company Limited (acquirer) dated June 30, 2020 to directly or indirectly acquire up to 18,335,542,678 ordinary shares of…
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M/s Rousch (Pakistan) Power Limited and M/s Liberty Power have reportedly declared Other Force Majeure Event (OFME) notices to CPPA-G due to suspension of gas, citing individual reasons, well informed sources told Business Recorder. Both power companies have written separate letters to the Chief Executive Officer (CEO) CPPA-G and other concerned officials to bring the gas situation into their notice. According…
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It is to be noted that the government has targeted to hold bidding of the majority stakes’ sale of the Pakistan Steel Mills Corporation (PSMC) in March-April 2022. On Wednesday, Federal Minister for Privatisation Mohammedmian Soomro and Federal Minister for Energy Hammad Azhar jointly chaired a meeting regarding transactions of the PSM and Heavy Electrical Complex (HEC). Federal secretaries of…
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The issue of gas crises, being faced by the business community of Karachi, will be addressed by the government and it will be resolved on a priority basis to aid the overall economy, assured President Arif Alvi. During his visit to the Karachi Chamber of Commerce and Industries (KCCI) on Wednesday, he said that participation of women in business activities…
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The National Electric Power Regulatory Authority (Nepra) is likely to allow ex-Wapda distribution companies an increase of up to Rs4.33 per unit in power tariff on account of fuel cost adjustment for November 2021. In this regard, Nepra conducted public hearing on a petition of the Central Power Purchasing Agency-Guarantee (CPPA-G) on Wednesday. Nepra Chairman Tauseef H Farooqi presided over…
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Despite passing 30 long years to the award of exploration license of Kohlu Block-28 to Tullow Pakistan, drilling at site could not take place allegedly owing to less attention of the Energy Ministry and Petroleum Division’s Directorate General Petroleum Concession (DGPC). According to sources, Kohlu Block has estimated gas reserves of 16Trillion Cubic Feet (TCF) and this Block 28 was…
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