Some of the major fiscal and external sector economic indicators of Pakistan deteriorated in the first half of current fiscal year, but authorities believe that economic recovery will still continue, albeit, at a slower pace. The finance ministry on Tuesday released its monthly Economic Updates and Outlook report for January. The ministry used a mix of five and six-month indicators.…
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ISLAMABAD: After an exercise of around six months, an energy audit of inefficient power plants has come to a halt as textile and other industries have obtained a stay order from Sindh High Court. In July last year, the Cabinet Committee on Energy (CCOE) had authorised National Energy Efficiency & Conservation Authority (NEECA) to conduct energy efficiency audit of captive…
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LONDON (Reuters) – Renewables overtook fossil fuels as the European Union’s main source of electricity for the first time in 2020 as new projects came online and coal-power shrank, a report showed on Monday. Renewable sources such as wind and solar generated 38% percent of the 27-member state bloc’s electricity in 2020, with fossil fuels such as coal and gas…
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Last week cabinet committee on energy (CCoE) decided to put a moratorium on gas supply to self-generation of power for industrial connections, given these have electricity grid connections. The co-generation is exempted from the moratorium. The policy is proposed to be implemented by February for general industry, and March for export-oriented industries. In principle, it is the right decision. Under…
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Experts are divided whether a significant growth of 25% in Pakistan’s imports in a single month is sustainable as imports are expected to remain high and heighten payment pressure ahead of the reopening of export markets. Pakistan’s imports increased almost 25%, or $1 billion, to a 17-month high at $5 billion in December 2020 compared to slightly over $4 billion…
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The compressed natural gas (CNG) industry has sought allocation of long-term terminal and pipeline capacity in an effort to attract viable suppliers for liquefied natural gas (LNG) import at competitive rates. In this regard, Universal Gas Distribution Company (Pvt) Limited (UGDC) – a special purpose company – was set up five years ago with approval of the Economic Coordination Committee…
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The compressed natural gas (CNG) industry has sought allocation of long-term terminal and pipeline capacity in an effort to attract viable suppliers for liquefied natural gas (LNG) import at competitive rates. In this regard, Universal Gas Distribution Company (Pvt) Limited (UGDC) – a special purpose company – was set up five years ago with approval of the Economic Coordination Committee…
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The Pakistan Tehreek-e-Insaf (PTI) government is working on multiple plans to ensure sale of shares in K-Electric. Under plan A, the government is working to complete the transfer of K-Electric’s share to China’s Shanghai Electric Power, however, there are some pending issues that the Chinese company wants to settle before the transaction is complete. Earlier, Shanghai Electric Power had expressed…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has recently issued its determination on the applicability of open access charges to consumers and has rejected a petition of the Central Power Purchasing Agency-Guarantee (CPPA-G) in this respect connected with wheeling charges. Buyers or consumer’s choice and competition are the basic tenets of capitalist markets. Under open access, the consumer has…
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The interface between construction activity and climate change cannot be disregarded while discussing the role and importance of both these areas in sustainability of economic development. The construction industry and environment or climate change have two-way mutual repercussions. On the one side construction is an industry that has a lot to contribute to the climate change dynamics, negatively or positively…
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