ISLAMABAD: The government is claiming to have saved about Rs856 billion over a period of 10 years on account of renegotiation with independent power producers (IPPs) and change in terms of contracts and closure of public sector power projects. This was the crux of a meeting of the Cabinet Committee on Energy (CCoE) presided over by Minister for Planning and…
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ISLAMABAD: Prime Minister Imran Khan was informed on Thursday that some leading businessmen of the country have formed a consortium to make a huge investment in two mega development projects — Urban Development and Bundle Island Project (UDBSP) in Karachi and Ravi River Front Urban Development Project (RRFUDP). In a separate meeting of the National Coordination Committee (NCC) on Housing,…
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ISLAMABAD: The government on Thursday set up an implementation committee to convert legally non-binding understandings with 47 independent power producers into legal agreements to secure an estimated amount of Rs836 billion in savings over the next 28 years. After a formal revision in power purchase agreements, the federal government would save an average of Rs30 billion a year during this…
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The country’s Ministry of Electricity and Energy allocated all tendered solar capacity in its first procurement exercise for large-scale PV. Final prices ranged from $0.0348 to $0.051 per kWh. China Machinery Engineering and Sungrow were the main winners, securing eight and nine projects, respectively. Myanmar’s Ministry of Electricity and Energy (MOEE) has concluded a 1 GW PV tender it launched in May…
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Globalization has lost its shine for the rich countries which in the first place had been its promoters as they went around the world looking for cheap labour in the 1980s. East Asia and then in a big way China became their sweatshops. The result was, not only millions were lifted out of poverty in these regions, but the transfer…
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LAHORE, (APP – UrduPoint / Pakistan Point News – 22nd Sep, 2020 ) :The China Pakistan Economic Corridor (CPEC) project intends to build Pakistan‘s most needed infrastructure and boost its economy by constructing modern transportation networks, setting up of Special Economic Zones (SEZ) and numerous energy projects. Geo-strategically, CPEC project is located between three key important landlocked regions of the globe including economically emerging and rich-resourced…
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Despite declaring a loss after tax of Rs 6.465 billion for the year ended June 30, 2020, Pakistan State Oil (PSO) may have found a silver lining as the company has managed to retire Rs 42 billion debt in the company’s short-term borrowings. As per details, PSO short term borrowings reduced from Rs 121.678 billion in FY19 to Rs 79.032…
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LAHORE: The Multan Electric Power Company (MEPCO) remained very close to its recovery target, followed by Gujranwala Electric Power Company (GEPCO) and Lahore Electric Supply Company (LESCO) by showing their recoveries as 99.8 percent, 98 percent and 97.67 percent respectively during 2018-19, said Performance Evaluation Report of National Electric Power Regulatory Authority (NEPRA) for the fiscal year 2018-19. However, none…
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Karachi — Pakistan may auction unutilized LNG regasification capacity of around 300 MMcf/d available at the government-owned Gasport Terminal in an effort to reduce the financial burden, Abdullah Ghais Paracha, chairman of the All Pakistan CNG Association, told S&P Global Platts. The country’s Economic Coordination Committee in July approved a proposal to give third parties access to its LNG receiving facilities…
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Warnings from both the Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) about confirmed gas shortages for Punjab and Sindh respectively, means that residential consumers and businesses are in for a tough winter. Federal Energy Minister Omar Ayub had, as early as the start of August, informed a Senate standing committee that the problem of gas…
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