ISLAMABAD: The circular debt in the power sector currently standing at Rs2,219 billion is to swell up to Rs4,000 billion in 2025 that will have a catastrophic impact on the economy. The power tariff in 2025 will surge by Rs5.1 per unit, driven mostly by the CPP (Capacity Purchase Price), unfolds a study titled “Fixing Pakistan’s Power Sector” prepared by…
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In a recent tweet by the Minister of Science and Technology Fawad Chaudhry, it has been revealed that Attock Petroleum Limited is setting up an Electric Vehicle (EV) charging point at Jinnah Avenue, Islamabad. The tweet further stated that its inauguration is another milestone achieved by the Ministry of Science and Technology in pursuit of introducing electric vehicles in Pakistan.…
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As the world makes a push towards the Great Reset, there is considerable talk about powering our future with renewable energy (RE). However, the allure of harnessing the wind and sun as sources of sustainable source of energy is not new. In 1931, Thomas Edison told his friend, Henry Ford, “I’d put my money on the sun and solar energy.…
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The joint delegation of LPG Industry Association called on Mr. Nadeem Babar, Special Assistant to Prime Minister on Petroleum at Ministry of Energy—Petroleum Division in this afternoon. The delegation included Chairman LPG Distributor Association, Chairman LPG Marketing Companies Association, LPG importer, Spokesperson and member of LPGAP. The SPAM stated that the government would design the long-term liquefied petroleum gas (LPG)…
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ISLAMABAD: Chairman Special Parliamentary Committee on Kashmir, Shehryar Khan Afridi has strongly denounced the Indian occupation regime for enacting new laws to enable illegal military cantonments in the disputed area of Indian Occupied Kashmir (IoK) and urged United Nations to take action to stop this illegal process.Addressing a seminar here at National Press Club on Sunday, organised to mark Kashmir…
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KARACHI: The federal government of Pakistan People’s Party (PPP) in 2009 had written off Rs31 billion owed by K-Electric.An agreement between K-Electric and Pakistan People’s Party government has emerged through which the government wrote off billions of billions owed by the power utility. The amended 2009 agreement allowed for Rs31 billion in arrears to be written off as government losses.The…
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The UN Secretary-General has told a meeting of ministers it is “vital” the world moves towards clean energy. Antonio Guterres said decisions on recovery strategies must account for the need to transition to a more sustainable future. He was speaking at the International Energy Agency’s (IEA) Clean Energy Transitions Summit. The virtual meeting is being billed as the year’s largest…
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PESHAWAR: The provincial government has raised its concerns over neglecting the hydropower projects of the province in the 27-year indicative generation capacity expansion plan of the federal government. Khyber-Pakhtunkhwa (K-P) Chief Minister Mahmood made these remarks during a hearing of the National Electric Power Regulatory Authority (NEPRA) regarding the proposed Indicative Generation Capacity Expansion Plan (IGCEP) 2020-47. The hearing which…
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WASHINGTON: Warning that a true economic recovery from the global coronavirus pandemic remains “in the distant future,” a top World Bank official on Friday urged G20 nations to extend debt relief for the poorest nations. Cautioning policymakers not to “confuse rebound with recovery,” newly-installed World Bank chief economist Carmen Reinhart called for an extension to the existing debt moratorium. G20…
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ISLAMABAD: The International Monetary Fund (IMF) linked the resumption of Extended Fund Facility Programme to “clear” plan of power tariff adjustment, mobilization of taxes as well as amendments in the National Electric Power Regulatory Authority (NEPRA) for quarterly adjustments in tariff and changes in the State Bank of Pakistan (SBP) law. Background interaction with officials of Finance Ministry revealed the…
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