Month: May 2020

ISLAMABAD (Dunya News) – Gas & Oil Pakistan Limited (GO), the fastest growing Oil Marketing Company (OMC) in Pakistan has announced that it has become the first OMC in Pakistan to introduce Electric Vehicle (EV) charging facility at its retail outlets. The first of these EV chargers, made by ABB Italy, the Swiss-Swedish multinational, has been installed at GO’s Company Owned & Operated Outlet, COCO-3 near the Expo Centre in Lahore. This was announced by Zeeshan Tayyeb, Chief Operating Officer, GO. As a responsible corporate entity, GO aims to be…

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The recent quarantine at home has boosted the growth of China’s food delivery and express delivery industries in the first quarter. As two main consumers of the electric bicycle industry, their progress also drove the sales of electric bicycles and related batteries in Q1, 2020. Recently, Chilwee Power, a battery giants in the field of light electric vehicle, announced that in Q1, Chilwee Power Supply, its subsidiary, achieved revenue of 4.09 billion yuan; net profit attributable to shareholders was 154 million yuan, up 9.06% year-on-year. According to its 2019 annual…

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Moody’s Investors Service – one of top three global credit rating agencies – has put Pakistan under watch for possible downgrade of its long-term local and foreign credit ratings, suspecting that Islamabad may default on debt repayments to “private sector creditors” due to economic mess under the coronavirus pandemic. “Moody’s has placed the government of Pakistan’s local and foreign currency long-term issuer and senior unsecured B3 rating under review for downgrade,” the US-based rating agency announced on Thursday. “Consistent with Moody’s approach globally, the review period will allow the rating…

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An agreement worth Rs442 billion with a joint venture of Power China and Frontier Works Organisation (FWO) was signed on Wednesday for the construction of a diversion system, main dam, access bridge and 21-megawatt Tangir hydroelectric power project. In the wake of a meeting presided over by Prime Minister Imran Khan a couple of days ago on water security and construction of mega dams including the Diamer-Bhasha dam, Pakistan Water and Power Development Authority (Wapda) said all efforts were under way to ensure timely mobilisation of the contractor and effective…

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An elementary question, as the Diamer-Basha dam makes headlines this week: Why is Pakistan off to make the world’s tallest Roller Compacted Concrete (RCC) dam – an unmoving, inflexible, rigid structure of mammoth proportions – in one of the region’s most active earthquake zones? Consider this fact: there are 300 earthquakes on average in a single month at the proposed site of the Diamer-Basha dam. Not just that – the reservoir is to be constructed on top of the Central Asian faultline. The original designers of the dam in 1984,…

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