Month: May 2021

The world’s seven largest advanced economies agreed on Friday to stop international financing of coal projects that emit carbon by the end of this year, and phase out such support for all fossil fuels, to meet globally agreed climate change targets. Stopping fossil fuel funding is seen as a major step the world can make to limit the rise in global temperatures to 1.5 degrees Celsius above pre-industrial times, which scientists say would avoid the most devastating impacts of climate change. Getting Japan on board to end international financing of…

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As Tata Power “goes big on renewable energy,” the firm seems optimistic about the exponential growth of the sector in the next four to five years. “Tata Power is going very big on renewables,” Praveer Sinha, managing director (MD) and chief executive officer (CEO) of Tata Power told CNBC-TV18 on May 25. Sinha is confident of the space become the “very biggest” and asserted that it will grow very fast in the next four-five years. Talking about Tata Power’s projects in the renewable energy sector, Sinha said, “…we will look…

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The energy minister stamped the verdict the other day, what was becoming increasingly evident from the government’s tone. There will be no immediate notification of the already approved power quarterly tariff adjustments. The government has decided to wait for the existing Rs1.62 per unit adjustment to lapse with effect from October 2021, to bring in the new adjustments of Rs 1.72 per unit – where the net impact would be very manageable at 10 paisas per unit. Apart from one episode for a base tariff revision in February 2021, all…

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Federal Minister for Planning and Development Asad Umar said on Tuesday that the circular debt build up for the period of July-April this fiscal year has been reduced by Rs189 billion as compared to the previous year. “Circular debt build up jul-apr this fiscal year is 260 billion vs 449 billion same period last year, a reduction of 189 billion,” the minister said in a series of Twitter posts today. “The full year circular debt build up this year is expected to be more than 100 billion LESS than the…

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Pakistan Water and Power Development Authority (Wapda) is spending a hefty amount of over Rs100 billion in project areas for progress and prosperity of the local population. “In addition to stabilising the national economy by developing irrigated agriculture, mitigating devastating floods and injecting low-cost hydel electricity into the national grid, the authority plays a role in socio-economic development of people residing in project areas,” said Wapda in a statement on Monday. The sum of Rs100 billion was being utilised on confidence-building measures (CBM) in project areas of four under-construction projects…

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