Month: April 2020

The PTI government is quite serious to start next week renegotiations of Power Purchase Agreements (PPAs) with Independent Power Producers (IPPs) with positive mode seeking relaxations based on mutual agreement, but not with the intent to harassthem as PPAs are supported by sovereign guarantees. To this effect, a committee headed by Federal Energy Minister Omar Ayub Khan, comprising other members of Federal Minister for Law and Justice Barrister Dr Muhammad Farogh Naseem, Special Assistant to Prime Minister on Coordination of Marketing & Development of Natural Resources Shahzad Syed Qasim, Secretary…

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Who was pulling the strings of Usman Buzdar to get Rs3 billion subsidy for sugar industry approved, is not documented in official files but it is now clear that none else than the Economic Coordination Committee of the Cabinet (ECC) set the stage for sugar mill owners’ windfall. Not only that the ECC’s decision was referred to byboth the Punjab food and finance departments as supportive to the subsidy option, the provincial government sources said that the ECC did not share with the province all important calculations of the then…

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Pakistan’s premier oil refining company, Byco Petroleum Pakistan Limited (BPPL) has informed that it has resumed production. In late march, the Ministry of Energy had issued an order to stop all import of petroleum products to all oil marketing companies to ensure that domestic refineries products are fully consumed. Fayaz Ahmad Khan, Vice President of Commercial at BPPL said: “Due to improved POL demand across the country, Byco has resumed production at its oil refinery.” Khan praised the Ministry of Energy in its efforts to support the domestic refining industry:…

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The Asian Development Bank (ADB) today tripled the size of its response to the novel coronavirus disease (COVID-19) pandemic to $20 billion and approved measures to streamline its operations for quicker and more flexible delivery of assistance. The package expands ADB’s $6.5 billion initial response announced on 18 March, adding $13.5 billion in resources to help ADB’s developing member countries counter the severe macroeconomic and health impacts caused by COVID-19. The $20 billion package includes about $2.5 billion in concessional and grant resources. “This pandemic threatens to severely set back economic, social,…

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One of India’s leading renewable energy companies, Adani Green Energy, has reported an impressive 30% increase in installed capacity between April 2019 and March 2020. In a statement, the company announced that it added 587 megawatts of solar and wind energy capacity in 2019-20, taking the total installed capacity to 2,545 megawatts. The commissioned assets include 2,148 megawatts of solar power projects and 397 megawatts of solar power projects. The company also reported that generation from these commissioned projects increased by 14.5% to 4,310 gigawatt-hour during 2019-20. The company has…

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