Karachi, January 30, 2020: The Government of Pakistan has notified the achievement of Financial Closing by Thar Energy Limited (TEL), a subsidiary of Pakistan’s largest Independent Power Producer, The Hub Power Company Limited (Hubco) [at a ceremony chaired by Federal Minister for Energy, Mr. Umar Ayub Khan in Islamabad]. Hubco incorporated TEL to set up a 330MW mine-mouth lignite-fired power Plant, one of the first…
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ISLAMABAD, Feb 3 (APP):Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar Monday said Pakistan was an agrarian country and needed to focus on producing clean bio fuels aimed at meeting its energy requirements indigenously. “The bio fuel is a natural advantage that we have been blessed with by Allah Almighty but we have chosen to ignore it…
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ISLAMABAD, Feb 02 (APP):The government has released funds amounting to Rs 293.257 million during first seven months of the of current fiscal year to execute petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs581.812 million. According to the official data as of January 24, an amount of Rs 8.442 million has been provided…
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ISLAMABAD: Instead of brining approximately 1,500 Liquefied Petroleum Gas (LPG) bowsers in the tax net, the Oil and Gas Regulatory Authority (OGRA)’s Member Gas has allegedly held in abeyance the directive of the Deputy Executive Director to all companies regarding obtaining license for each bowser. OGRA’s Deputy Executive Director LPG Aziz Ullah Khan, through a letter (dated January 1, 2020), had…
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The Independent Power Producers (IPPs) are reportedly on the verge of default due to exhausting of their credit lines as the government is not honouring obligations on payment due to which receivables are now hovering at around Rs 450 billion. Background interviews with officials and power sector stakeholders indicate that there is lack of interest on the part of government…
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