Govt is set to recover additional cost of losses from consumers

TO ensure a belated compliance with the targets of International Monetary Fund (IMF), the government is set to recover additional cost of losses from consumers by imposing new surcharges aimed at financing power sector loans and generate more than Rs.250 billion in annual revenue. As a first step, a meeting of the Economic Coordination Committee (ECC) of the Cabinet has been convened to seek approval for introduction in parliament amendments to the Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997 to address about Rs1.72 trillion worth of…

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Saudi Company to Invest $4 Billion in Renewable Energy in Balochistan

Minister for Power Division Omar Ayub Khan has revealed that a Saudi power producing company, ACWA Power, will invest $4 billion in the country’s renewable energy sector. While briefing the national assembly, he stated that ACWA Power will invest in Balochistan’s energy sector. Omar said that generating cheap electricity by utilizing indigenous renewable energy resources like wind, solar, waste to energy biomass is among the top priorities of the government. He said the Alternative Energy Development Board (AEDB) has been pursuing the development of alternative and renewable energy-based power generation…

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Massive Oil Product Build Sends Prices Lower

A day after the API’s crude oil inventory report pressured prices, the EIA relieved some of the pressure by reporting an inventory draw of 2.5 million barrels for the week to January 10.close [x]Video Player is loading. Analysts had expected the authority to report an inventory decline of 750,000 barrels for the period. A week earlier, the EIA estimated inventories had added 1.2 million barrels, after for the last week of 2019 it reported an inventory decline of 11.5 million barrels. In gasoline the EIA reported an inventory rise of 6.7 million barrels, adding to a build of…

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Special Assistant Dr. Sania Nishtar to inaugurate NFEH’s 12th CSR Summit on 22nd Jan

Special Assistant to Prime Minister on Poverty Alleviation and Social Protection Dr Sania Nishtar will inaugurate a conference on Corporate Social Responsibility (CSR) here at a hotel in Islamabad on 22 January, 2020. The National Forum for Environment and Health (NFEH) combining its strength with Sustainable Development Policy Institute (SPDI) and CSR Club of Pakistan is organizing the 12th Annual CSR Summit-2020. The aim of the moot is to combine at one place the relevant authorities of the state, government, non-governmental, public, and private sectors to discuss issues in detail related…

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KE conducts preventive maintenance

K-Electric regularly conducts routine annual maintenance and upgrades on its power infrastructure, for which shutdowns are necessary. Planned maintenance and upgrades are often undertaken during the winter months to reduce inconvenience to customers. Registered customers are intimated about upcoming shutdowns via KE’s 8119 SMS service. According to spokesperson KE, “Power supply in the city is as per routine but in order to constantly upgrade the system in line with K-Electric’s commitment to ensure smooth and uninterrupted power supply for its customers, annual preventive maintenance and up-gradation shutdowns are periodically carried…

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EU lays out €1tr plan to support Green Deal

BRUSSELS: The European Union plans to dedicate a quarter of its budget to tackling climate change and to help shift one trillion euros ($1.1tr) in investment towards making the economy more environmentally friendly over the next 10 years. The Europe Investment Plan unveiled on Tuesday will be funded by the EU budget and the private sector. It aims to deliver on European Commission president Ursula von der Leyen’s Green Deal to make the bloc the world’s first carbon-neutral continent by 2050. The plan includes a mechanism designed to help the…

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