Day: March 19, 2021

A cabinet body on Thursday expressed its anger over lack of progress on the privatisation programme and directed the Ministry of Privatisation to submit timelines for outsourcing the management of power distribution companies. The Cabinet Committee on Privatisation (CCOP) was furious over the privatisation ministry’s lack of progress on its two-month-old instructions that called for beginning the process of outsourcing the management of power companies to the private sector, according to finance ministry officials. The Privatisation Division presented various proposals for the award of management contracts for a smooth running…

Read More

ISLAMABAD: Prime Minister Imran Khan has assured Saudi business tycoon Abdulaziz Hamad Aljomaih – managing director-investments – Aljomaih Holdings – one of the largest business groups in Saudi Arabia – to expedite the resolution of K-Electric’s debt issues with other entities to facilitate a smooth transaction with the Chinese power generation firm – Shanghai Electric. Aljomaih is one of the largest investors in KE that bought then KESC (Karachi Electric Supply Coropration) in 2005. During his visit, the high-profile visitor took up three issues which included acquisition of KE shares…

Read More

PESHAWAR: The Khyber Pakhtunkhwa government is planning to build two hydroelectric-powered pilot “mining farms” to capitalise on a bullish global cryptocurrency market, a minister overseeing a new government crypto policy told Reuters on Wednesday. The announcement comes as cryptocurrencies are gaining mainstream acceptance, with Bitcoin’s price reaching record levels as investors such as Elon Musk pour funds into it, and the first big US bank, Morgan Stanley, offering its wealth management clients access to bitcoin funds. Crypto mining farms involve large investments in computer data centres which require vast amounts of power.…

Read More

UrduPoint / Pakistan Point News – 18th Mar, 2021 ) :Britain’s carbon dioxide emissions have halved from their 1990 level, taking the country half-way to its net-zero 2050 commitment, a study indicated Thursday. Carbon Brief said the 51 percent drop, which has largely been driven by a move away from coal for power generation, was hastened by a record 11 percent drop in greenhouse gas emissions in 2020. Oil consumption plummeted last year as lockdown measures were introduced to help tackle the coronavirus pandemic, the industry think-tank said in its study. But it warned that emissions are expected to rebound when…

Read More

London, (APP – UrduPoint / Pakistan Point News – 18th Mar, 2021 ) :National Grid, which distributes energy to British homes and businesses, announced Thursday a multi-billion-pound shake-up of its electricity and gas assets as the UK transitions to cleaner fuels. The company has agreed to buy Britain’s largest electricity distribution business — Western Power Distribution — from US energy giant PPL Corporation for �7.8 billion ($10.9 billion, 9.1 billion Euros). In a separate transaction, National Grid will sell its Rhode Island utility business — The Narragansett Electric Company —…

Read More