Pakistan’s imports increased by 17.79 percent, in the US dollar term, to reach $44.749 billion during the first 10 months of the current fiscal year as compared to $37.992 billion during the corresponding period of last financial year. According to the data provided by Pakistan Bureau of Statistics (PBS), the imports in April 2021 were $5.260 billion (provisional) as compared…
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The world’s seven largest advanced economies agreed on Friday to stop international financing of coal projects that emit carbon by the end of this year, and phase out such support for all fossil fuels, to meet globally agreed climate change targets. Stopping fossil fuel funding is seen as a major step the world can make to limit the rise in…
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As Tata Power “goes big on renewable energy,” the firm seems optimistic about the exponential growth of the sector in the next four to five years. “Tata Power is going very big on renewables,” Praveer Sinha, managing director (MD) and chief executive officer (CEO) of Tata Power told CNBC-TV18 on May 25. Sinha is confident of the space become the…
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The energy minister stamped the verdict the other day, what was becoming increasingly evident from the government’s tone. There will be no immediate notification of the already approved power quarterly tariff adjustments. The government has decided to wait for the existing Rs1.62 per unit adjustment to lapse with effect from October 2021, to bring in the new adjustments of Rs…
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Federal Minister for Planning and Development Asad Umar said on Tuesday that the circular debt build up for the period of July-April this fiscal year has been reduced by Rs189 billion as compared to the previous year. “Circular debt build up jul-apr this fiscal year is 260 billion vs 449 billion same period last year, a reduction of 189 billion,”…
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Pakistan Water and Power Development Authority (Wapda) is spending a hefty amount of over Rs100 billion in project areas for progress and prosperity of the local population. “In addition to stabilising the national economy by developing irrigated agriculture, mitigating devastating floods and injecting low-cost hydel electricity into the national grid, the authority plays a role in socio-economic development of people…
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The biggest oil-exporting region in the world, the Middle East, has set its sights on becoming a major clean energy exporter of green hydrogen. The largest oil producers in the Arab Gulf have jumped on the hydrogen bandwagon — especially its so-called green variety produced from water electrolysis using electricity from solar or wind — as it gains momentum with…
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About 90 per cent work on the under-construction Koto hydropower project (Koto-HPP) has been done and it will be completed by December this year, said assistant project director while briefing a team of the district administration. The team, including deputy commissioner Aun Haider Gondal, Timergara assistant commissioner Tahir Ali and other officials, visited the project site here the other day.…
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The Federal Investigation Agency (FIA) on Monday registered a case against two former chairmen of Pakistan International Airlines (PIA), a former acting CEO, and arrested a former director of the national airline on charges of causing losses of over Rs1 billion to the exchequer. FIA Sindh Director Amir Farooqi told Dawn the investigative body had registered a case against PIA…
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The Asian Development Bank (ADB) and the government of Pakistan on Friday signed a $300 million loan agreement to finance the construction of a 300-megawatt hydropower plant in Balakot, Khyber-Pakhtunkhwa. The ADB Acting Country Director, Cleo Kawawaki, and Ministry of Economic Affairs Division Secretary Noor Ahmed signed the loan agreement for the project, which was approved by the ADB on…
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