Category: Recent Post

Chocolate is leading the charge on the candy front as the coronavirus pandemic continues. A data-driven report from the National Confectioners Association shows that demand for chocolate has surpassed demand observed in the candy market overall from March 15, 2020 to Aug. 9, 2020. Between those five months, the premium chocolate market saw the largest growth with a sales spike of 12.5%. Non-premium chocolate, on the other…

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KARACHI: Chairman of the committee probing Independent power producers (IPPs) case, Muhammad Ali, on Monday said that successful negotiations between IPPs and the federal government would bring a halt to rising circular debt, ARY NEWS reported. Speaking during ARY NEWS programme, Power Play, he said that the IPP probe committee covered the entire power sector and pointed out excessive payments to…

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The federal government, upset about the failure of different ministries and divisions to appoint heads of state-run enterprises, has decided to conduct a study to unearth the stumbling blocks and streamline the recruitment process. According to a report shared by the Establishment Division with the Cabinet Committee on Institutional Reforms, 96 posts of heads of public sector companies had been…

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August 31, 2020: National Electric Power Regulatory Authority (NEPRA) has imposed a fine of Rs 200 million on K-Electric for excessive load-shedding in Karachi. “The NEPRA Authority has imposed a fine of PKR. 200 million on K-Electric for carrying-out excessive load-shedding in Karachi during the months of June and July, 2020 and violating NEPRA Act, terms and conditions of its…

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Prime Minister Imran Khan has said removing hurdles to business activities and providing a conducive environment to the business community is among the top priorities of his government. “The federal government announced to give concessions to the construction sector [in the wake of coronavirus pandemic] so that the construction sector and other businesses associated with it may thrive,” Imran said…

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Mexico’s state oil firm Pemex is not planning a shift toward curbing carbon emissions or green energy, as Mexican President Andrés Manuel López Obrador continues to bet on oil exploration and a new domestic refinery to make the country energy independent and reverse the years-long decline in oil output, Reuters reported, citing government and company sources. López Obrador, a leftist…

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Two tankers will be the first since January this year to load oil for export at the Libyan port of Brega, Bloomberg reports, citing unidentified source in the know. One of the cargos, of 600,000 barrels of crude, will be shipped to Austrian OMV. The other is of a similar size but its destination has not been disclosed. Libya’s oil…

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Electricity generation of hydel power stations owned and operated by Pakistan Water and Power Development Authority (WAPDA) surpassed 8500 megawatt (MW) mark for the first time in Pakistan, as WAPDA provided 8757 MW of electricity to the National Grid during peak hours the other day. Previously, the record of hydel power generation was 8474 MW delivered to the system on…

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The two mega water reservoirs of Mangla and Tarbela have been filled to their maximum capacity last night, resulting in the record availability of water in the two dams, which is being regarded a good omen for agriculture and hydel power generation in Pakistan in the days to come. The cumulative quantum of water available at present in Mangla and…

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Siemens Gamesa Renewable Energy’s new financial strategy will look familiar to those following the pinched U.S. shale sector: the German-Spanish wind turbine manufacturer plans to focus less on breakneck growth, and more on profitability and cash generation.  “We cannot live from volume,” C.E.O. Andreas Nauen said on August 27th in a conference call as the company unveiled its new strategy. “We have to make…

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