Month: November 2019

ISLAMABAD: To meet another target before a mee­ting of the executive board of the International Mone­tary Fund (IMF), the government on Thursday app­roved an increase of 26 paisa per unit in electricity tariff, instead of 15 paisa allowed by the power regulator. This decision was made at a meeting of the Economic Coordination Committee (ECC) of the Cabinet that also further increased wheat support price by Rs15 per 40kg to Rs1,365 and exempted two LNG-based power projects in Punjab from ‘guaranteed take or pay’ of 66 per cent gas quantities…

Read More

BYD, the Chinese multinational company and world’s largest electric vehicles manufacturer with turnover of $250 billion, is all set to enter Pakistan. The development was announced by Pakistan Electric Vehicles & Parts Manufacturers and Traders Association (PEVPMTA) General Secretary Shaukat Qureshi while talking to local media. “Toyota, the world auto giant, for the first time signed an agreement on November 7, 2019, to develop Electric Vehicles with BYD, the world’s largest electric vehicles manufacturer, with 44 plants around the globe employing 250,000 personals, with turnover of $250 billion,” he said.…

Read More

ISLAMABAD, Nov 29 (APP):Federal Minister for Power and Petroleum, Omar Ayub Khan on Friday said that the Petroleum sub-Sector offering huge oil and gas exploration opportunities of around 40 new sites for which auction will be conducted in the month of December 2019. In a meeting with German Ambassador Bernhard Schlangheck who called on him at his office, he said the Pakistan’s Energy Sector is fast flourishing as its sub-Power Sector was offering around 60 Billion Dollar market in its renewable energy generation, transmission and Distribution system, said a press…

Read More

ISLAMABAD: Pakistan State Oil (PSO) has scuttled the move of Power Division seeking end to utilisation by RLNG power plants minimum 66 percent supply of imported gas on annual basis guaranteed in the deal saying it is simply not acceptable as it will lead to huge financial losses to the national exchequer and public sector companies involved in LNG supply chain. In a letter written on October 31, 2019 to Petroleum Division which is in possession of The News, the state owned PSO has opposed the Power Division’s proposal branding…

Read More

KARACHI: The use of electric vehicles will reduce fuel cost by 60 percent and it will also resolve environmental issues caused by pollution, Malik Amin Aslam, Advisor to Prime Minister for Climate Change, said on Thursday. Addressing at a press conference, Amin Aslam said that the government had approved first ever Electric Vehicle Policy and the industry would start working soon. “The owners of motor cycles, three-wheelers and buses can reduce their monthly fuel cost by 60 percent with uses of electric vehicle technology,” he said. He said that on…

Read More