Month: November 2020

KARACHI: Fun fact: between 1960 and 1990, Pakistan’s GDP growth was higher than that of South Asia for all but just five years. In the last 30 years, however, it has been higher in only two annual readings, according to World Bank data. A remarkable reversal for a country that posted its highest population growth rate in the 1980s, suggesting that greater economic activity would be needed to maintain the same standard of living. The time-period division has not been made to imply that a U-turn was made precisely in…

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In a release Colorado, U.S.-based Transitional Energy announced it has received a $500,000 Advanced Industries Grant from the Office of Economic Development and International Trade (OEDIT). OEDIT provides these grants to proof-of-concept and early stage companies to support the commercialization of innovative technologies and products that support the Colorado economy. Transitional Energy will use these funds to support the development and conversion of oil and gas wellbores and associated infrastructure into geothermal power generation facilities. Oil and gas production has long been a key industry underlying Colorado’s economic growth. As…

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ISLAMABAD: The crucial round of talks between the government and IPPs to turn the MoUs into amended Power Purchase Agreements (PPAs) will start from tomorrow (Tuesday) on Payment Mechanism of dues that has been finalised by top notches of the Power Division and finance ministry with the World Bank, a top official of the Power Division told The News. “As many as 47 IPPs installed plants under power policies 1994, 2002 and 2006 that signed MoUs on August 13, 2020 and over three-month period has elapsed and so far there…

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More than 1400 students, engineers and energy-sector professionals from Pakistan, South Asia and across the globe participated in the first ever digital job fair during the pandemic time. This two-day event is organized byWomen In Energy Pakistan (WIE) in partnership with fellow women-led communities,Women Engineers Pakistan, Women In Tech PK, and Code Girls, to promote workforce participation of women in the STEM and the Energy sectors. STEM Forward 2020 Job Fair was designed in response to COVID-19 to it help connect anxious fresh graduates and young professionals with STEM and…

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Minister for Planning, Development and Special Initiatives Asad Umar Monday said that review in agreements with Independent Power Producers (IPPs) would help reducing the per unit price of electricity by over Rs 1.4. In 2022, the price would go down by Rs 0.74 while in 2023, it would be cut by Rs 0.66 per unit, the Minister said while talking to media here. With the agreements with IPPs, the consumers would get a huge relief of over Rs300 billion in three years, Said Asad. He said the government decided to…

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