Month: March 2021

K-2 achieves criticality

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ISLAMABAD: The Pakistan Atomic Energy Commission (PAEC) on Tuesday announced it had achieved criticality of its 1,100MW nuclear power station in Karachi, one of the two major nuclear plants in the city. The commission said the 1,100MW plant, called K-2, would go through certain safety tests and procedures before it is connected to the national grid by the end of March. K-2 is one of the two similar under-construction nuclear power plants (NPPs) located near Karachi and will be inaugurated for commercial operation by the end of May this year.…

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NEECA to provide knowledge on energy efficiency, conservation

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The National Energy Efficiency and Conservation Authority (NEECA) can help improve existing boilers and provide sufficient knowledge regarding energy efficiency and conservation. This was stated by participants at a webinar hosted by NEECA on Industrial Boilers’ best practices for Efficient Operations. The webinar was intended to open the platform for Industrial associations, policymakers, new technology, and concerned stakeholders, for generating the debate on Energy efficiency-related interventions in Pakistan. The objective of the discussion was to gauge and influence the interest of the manufacturers to help in promoting energy efficiency &…

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Oil sales jump 26pc to 14mln tons last month

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KARACHI: Sales of petroleum products surged 26 percent year-on-year to 1.4 million tons in February as consumer demand was seen recovering back to the pre-COVID level, official data showed on Tuesday. The off-takes of petroleum products stood at 1.1 million tons in February 2020. However, sales of petroleum products were down eight percent month-on-month partly due to two working days less in February compared to January. “The growth in sales volumes was primarily attributable to resilience displayed by the economy and the ensuing demand for motor spirit, better agricultural yields…

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NA told: Debt-to-GDP ratio may soar to 87pc by end-FY21 Zulfiqar Ah

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Finance Minister Dr Abdul Hafeez Shaikh Monday informed the National Assembly that the debt-to-GDP ratio was expected to be 87 percent by end-fiscal year 2020-21, saying enough had been done to rationalise expenditures, broadening of tax base, and restructuring of the public sector enterprises. In a written reply, he said that the robust policy adopted by the government had resulted in a much lower debt accumulation during FY 2019-20 compared to 2018-19. “Over the medium-term, the government’s objective is to ensure gradual reduction in fiscal deficit which would subsequently reduce…

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Power sector marching towards unresolvable problems’

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Chairman of National Business Group and President of Pakistan Businessmen and Intellectuals Forum Mian Zahid Hussain has said that the power sector may crumble under the burden of defective planning and wrong contracts, and the business community hope that China will bail out Pakistan from this mess. He said the power sector was marching towards un-resolvable problems while Prime Minister Imran Khan and COAS Qamar Javed Bajwa were trying their best to tackle the issue which was highly laudable. Mian Zahid Hussain said that the government had completed talks with…

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