Adviser to the Prime Minister on Commerce, Textile, Industry and Production Abdul Razak Dawood has said he’s “worried” the ongoing gas shortage may slow down the pace of exports’ growth in December and beyond. Speaking to journalists at the Karachi Press Club on Wednesday, Mr Dawood said industrial units, particularly in the textile industry, that have combined-cycle captive power plants…
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K-Electric (KE) implemented a ‘Black Start’ capability for the first time in their generation fleet at the Korangi Power Complex (KPC), which is expected to generate 247 MW of electricity for Karachi and curb unexpected black outs, a statement said on Tuesday. The facility augments KE’s ability to secure power supply against unexpected large-scale outages, allowing power plants to go…
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Karandaaz Pakistan, funded by UK’s Foreign, Commonwealth & Development Office (FCDO), announced its plans to fund six green transitional projects as part of its annual innovation challenge, a statement said on Tuesday. With support from FCDO, Karandaaz, this year, invited innovative projects seeking financing to implement plastic waste management and efficient water management solutions. After due diligence, Karandaaz selected Suftech…
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Keeping in view the threats of climate change, Pakistani entrepreneurs are taking initiatives to reduce the impact of changing weather patterns on the country. Two businessmen have come up with the idea of weather data analytics and forecasts with the help of artificial intelligence and computer algorithms to increase the accuracy of predictions to 95%. Warning of a 2.5-degree-Celsius rise…
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Share prices of the independent power producers (IPPs) soared on Tuesday after the government approved the disbursement of Rs135 billion as part of the tariff renegotiation process aimed at reducing the circular debt. The approval for the final tranche of payments consisting of 60 per cent of the total outstanding dues follows the disbursement of the first instalment amounting to Rs90bn to…
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The price of compressed natural gas (CNG) has further gone up by Rs6.89 per litre in Punjab and Rs10.30 per kg in other provinces following an increase in sales tax by the Federal Board of Revenue (FBR), stakeholders said on Tuesday. In the first week of October, CNG price in Sindh was raised by Rs15 per kg, followed by an…
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The receivables of the Pakistan State Oil (PSO) have gone up to a whooping figure of Rs 398 billion the highest ever in the entity’s history with a major chunk of Rs 192.539 billion from the power sector However, the Sui Northern owes Rs 161.025 billion to the PSO in the head of RLNG and the PIA is required to…
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The Ministry of Energy (Petroleum Division) has reportedly hinted at occasional disruptions in supply of gas/RLNG to exporters during the winter, due to increase in demand by domestic, power and fertilizer sectors, well informed sources told Business Recorder. These apprehensions were expressed at a recent meeting of federal cabinet during which concerns over under invoicing by the industry and misuse of…
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Special Assistant to Chief Minister (SACM) Punjab and Spokesperson for the Punjab Government Hasaan Khawar has said that without sincere cooperation of people, keeping environment clean will remain a dream only. Talking to the media at the office of Provincial Disaster Management Authority (PDMA) on Monday, he said people should play their role by registering complaints on the helpline 1716…
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The Cabinet Committee on Energy (CCOE) has directed the Oil and Gas Regulatory Authority (Ogra) to implement end-to-end automation and digitisation of reporting to record all transactions in future and have accurate data collection. The directive came in a CCOE meeting held on Thursday under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar. On the…
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