Hammad Azhar, Minister for Energy, on Thursday said the government was exploring options to swap debt for environmental protection related projects after issuing Green Bonds. He was speaking at the virtual “World Leaders’ Investment Summit”, one of the top level events of 7th World Investment Forum (WIF). Speaking on behalf of Prime Minister, the minister underscored the importance of investment…
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Rising need of petroleum and its heavy taxation leaves the common man stripped of his earnings, and renders the lives of the poor more miserable than before, but despite all these, brings in super-duper profits to the petroleum companies and revenues in trillions for the government.—Rana Bhagwandas Commission Report on Petroleum Prices submitted to Supreme Court of Pakistan in 2009…
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The augmentation and upgradation plan of transmission and distribution networks in Punjab will be submitted to the Cabinet Committee on Energy (CCoE) next week to make it loadshedding-free province by the coming summer, said sources. Under the plan, the transmission and distribution networks of both the National Transmission & Despatch Company (NTDC) and five distribution companies (DISCOs), including IESCO, LESCO,…
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Secretary Energy and Power Khyber Pakhtunkhwa, Imtiaz Hussain Shah here Thursday stressed to complete ongoing projects of energy sector within stipulated time and said that negligence and dereliction of duties shall not be tolerated. He said this in a briefing after assuming charge of Secretary Power and Energy on Thursday. He said that officials should make efforts to complete energy…
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K-Electric has requested the National Electric Power Regulatory Authority (Nepra) to increase the per unit price of electricity by Rs3.45 for the month of September. The Nepra will hear the appeal from K-Electric on November 3. If the request is approved, the increase will mean an additional burden of Rs6 billion on Karachi consumers. A day earlier, the Central Power…
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Pakistan has succeeded in securing cargoes of liquefied natural gas (LNG) from Qatar at competitive price to meet winter demand amid unprecedented surging energy costs for the consumers. “We have got most LNG cargoes in line for November, December and January period,” said Federal Minister for Energy, Hammad Azhar on Thursday. The government has been able to source LNG cargoes…
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The Senate Standing Committee on Finance has recommended to the Federal Board of Revenue (FBR) to immediately withdraw its new instructions with regard to attachment of the bank accounts for recovery of tax and intimate the chairman secretariat in this regard. The finance committee also strongly opposed mandatory condition of the corporate sector to make payments through digital payment mode.…
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By the end of the decade, the production of plastics is set to outpace coal-fired power plants in terms of greenhouse gas emissions, further frustrating efforts to combat climate change as many countries move away from coal, according to a report released Tuesday. The report by Bennington College and Beyond Plastics projected that the plastic industry releases at least 232…
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Minister for Energy Hammad Azhar and Minister for Maritime Affairs Ali Zaidi are, said to have locked horns over the issue of handling of Q-Flex vessels, especial vehicles to carry liquefied natural gas (LNG), at Port Qasim, well informed sources told Business Recorder. On October 4, 2021, the Cabinet Committee on Transport of Logistics (CCoT&L) while discussing the issue regarding…
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The government’s plan to establish two new LNG terminals appears to be in limbo as Minister for Maritime Affairs is unhappy at the volume of capacity for the two terminals, arguing that allocation of pipeline capacity, as proposed by the Petroleum Division, may not serve the purpose, well informed sources told Business Recorder. On October 8, 2021, the Petroleum Division briefed…
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