For meaningful talks’: Govt defers power sector probe for two months

ISLAMABAD: The government has deferred the constitution of an inquiry commission and release of the report on the power sector for two months in what appears to be an attempt to convince the Independent Power Producers (IPPs) to settle the issue through negotiations. According to documents, “In order to provide a chance of meaningful negotiations with the Independent Power Producers (IPPS),…

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Saudi Arabia Gains an Edge in Oil Market After Price Plunge

The uneasy truce that settled over oil markets this month as some of the world’s largest producers began cutting output belies the raging competition among exporters seeking to preserve their share of a diminished market. Saudi Arabia, the world’s biggest exporter, appears to be winning the fight for sales as it slashes prices for its crude. Producers globally are struggling…

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ECC to approve conversion of Rs136.5bn PHPL debts into public debt today

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet which is scheduled to meet Wednesday (May 6) will approve conversion of Rs 136.5 billion debts of Power Holding Company Limited (PHPL) into public debt as per agreement with World Bank, sources in the Finance Division told Business Recorder. PHPL is a wholly-owned government entity, established for the purpose of securing…

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CPEC’s second phase will focus on industrial cooperation

ISLAMABAD: The second phase of the China-Pakistan Economic Corridor (CPEC) would focus on industrial cooperation to explore business opportunities in textile, industry, agriculture, science and technology, tourism and other areas. This was decided in a meeting held between Board of Investment (BOI) Chairman Atif R Bokhari and Ambassador of China to Pakistan Yao Jing here on Tuesday. Chinese Ambassador Yao Jing…

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India Proposes Mandatory Procurement of Hydro Electricity

After re-classification of hydro power as a renewable energy technology, the Indian government is planning to mandate procurement from hydro power projects. According to media reports, the Indian government has proposed an amendment to the Electricity Act calling for the implementation of hydropower purchase obligation (HPO). If implemented, this new amendment will required electricity retailers to purchase a minimum percentage…

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Opinion: Pakistan’s ‘Green Stimulus’ to combat Covid-19, protect nature

While the ongoing Covid-19 pandemic has engulfed an unprepared world there is the possibility of a silver lining in how we respond. As humans retreat under forced lockdowns, nature has made an eager and speedy comeback — rehabilitating, reenergising and reclaiming lost space while at the same time compelling us to recognise our extreme vulnerability to the destruction of the…

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