ISLAMABAD: With more powers to Special Assistant to PM on Power, Tabish Gauhar, the negotiations with the IPPs with regard to converting MoUs into the amended Power Purchase Agreements (PPAs) seemed to have moved towards conclusion. “The IPPs and government negotiating team are set to initialise the amended PPAs, sometime in next week, however, the proper signing would be held…
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ISLAMABAD: Pakistan has opened bids for 20 onshore petroleum exploration blocks, the government said in statement on Friday. “The minimum investment to be carried out by the exploration and production (E&P) companies in these blocks for prospecting will be over $71 million in three years,” a statement from the petroleum division said. The move to grant licences for discovery comes…
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BMW said on Friday that it aims to double its sales of fully electric vehicles this year as the German carmaker and rivals race to release new models to comply with CO2 emissions targets and chase market leader Tesla Inc. BMW also said that including plug-in hybrids, it aims for a 50% increase in sales of electrified vehicles versus 2020.…
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Pakistan, as well as Bangladesh, is rationing gas and buyers across South Asia are seeking alternative fuels after spot liquefied natural gas (LNG) prices surged to record highs, government and industry officials told Reuters. Spot LNG prices have nearly tripled since early November as freezing temperatures across North Asia boosted demand and depleted inventories. Since July, prices are up a dizzying…
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ISLAMABAD: A Chinese iron and steel conglomerate has become the first foreign enterprise to establish its plant in the Rashakai Special Economic Zone under CPEC with a planned investment of $50 million. The SEZ Committee of Rashakai Special Economic Zone at its meeting on Friday allocated 40 acres to Century Steel Ltd owned by Fuzhou Julitaihe International Company of China,…
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ISLAMABAD: With sufficient oil-related revenue in the kitty, the government on Friday increased the prices of all petroleum products by three per cent to 6pc for the next 16 days. According to an announcement by the finance ministry, the ex-depot prices of petrol and high speed diesel (HSD) were increased by Rs3.20 and Rs2.95 per litre, respectively. The prices of…
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