The two state-owned companies, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC), have collectively prevented a volumetric loss of around 9,938 Million Cubic Feet (MMCF) gas against the UFG reduction target of 14,806 MMCF set for the Financial year 2019-20. The SNGPL decreased the loss of 4,771 MMCF gas against its Unaccounted for Gas (UFG) reduction…
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Islamic banks should embrace sustainable finance practices to unlock funding opportunities in green energy, affordable housing and infrastructure projects, Azhar Aslam, head of Islamic banking, Standard Chartered Bank Pakistan said during an interview with The News. These avenues should be considered a great opportunity by Islamic financial institutions (IFIs), which could better manage environmental and social impacts in a Shariah-compliant…
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Energy sector experts have stressed the need for according equal importance to the country’s non-traditional security challenges such as energy and environmental crisis to ensure national security. Speaking at a webinar titled “Nontraditional security challenges – energy and environment crisis” on Friday, they were of the view that by tackling energy and environmental challenges, Pakistan could boost its overall national…
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Industrialists have expressed concern over the hike in energy tariff and discontinuation of gas supply to the factories generating their own electricity. In a statement on Friday, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Nasser Hyatt Maggo and other office-bearers said that the government was making efforts to appease the International Monetary Fund (IMF) at the cost…
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The Petroleum Division has asked the Auditor General of Pakistan (AGP) to initiate a forensic audit of top 10 oil marketing companies (OMCs), which were allegedly involved in petrol crisis in June last year. The Petroleum Division has sent a questionnaire to the AGP, asking it to focus on it while conducting the audit of OMCs. The forensic audit will…
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The first commercial scale plant to recycle all types of plastic using high pressure steam in the U.K. began construction. The plant in the northeast of England will cost 30 million pounds ($41 million) to build and ultimately process 80,000 metric tons a year of plastic waste after its starts operating by the end of 2022, according to a statement…
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China agreed to invest $400 billion in Iran over 25 years in exchange for a steady supply of oil to fuel its growing economy under a sweeping economic and security agreement signed on Saturday. The deal could deepen China’s influence in the Middle East and undercut American efforts to keep Iran isolated. But it was not immediately clear how much…
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Special Assistant to Prime Minister on Climate Change Malik Amin Aslam has said tree plantation is highly important to keep an atmosphere clean and healthy. He said this while inaugurating the Miyawaki Forest at Botanical Garden Jallo here on Thursday. He said planting trees was the only way to deal with smog and environmental pollution. He congratulated the Parks and…
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Abdulaziz Hamad Aljomaih, representing Aljomaih Group of Saudi Arabia with major shareholdings in K-Electric, Pakistan’s only private and vertically integrated utility, held a range of high-level meetings in Islamabad and Karachi during recent visit to Pakistan, including the Prime Minister Imran Khan, President Arif Alvi, Finance Minister Abdul Hafeez Sheikh, Privatization Minister Mohammedmian Soomro and Energy Minister Omar Ayub Khan.…
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A close aide of the prime minister has stepped forward in the K-Electric deal that may lead to another controversy. Different quarters say that intervention by the premier’s close aide, who had previously worked on different positions in K-Electric, may derail the progress made so far in resolving the payables and receivables dispute among Sui Southern Gas Company (SSGC), National…
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