Month: June 2021

K-Electric, PLL enter into agreement

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KARACHI: In a major breakthrough, K-Electric and Pakistan LNG Limited (PLL) have entered into an initial Gas Supply Agreement (GSA) for the supply of 150mmcfd RLNG for K-Electric’s flagship 900MW power plant at Port Qasim (BQPS-III). The GSA will be executed promptly after the approval of the Oil & Gas Regulatory Authority (Ogra), sources at KE told the Business Recorder. “The GSA has been finalized and initialed by KE’s CEO Moonis Abdullah Alvi and PLL’s Managing Director Masood Nabi on June 4, 2021,” they said. Once fully operational, the $650…

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Budget 2021-22: What is getting cheaper and what will cost more?

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As the Budget 2021-2022 was presented in the National Assembly on Friday, one thing was clear: the government was aiming to please as much of the population as it could. Earlier in the day, Prime Minister Imran Khan had said “everyone would be happy” with the budget and the reduction of taxes on several industries seemed to reflect that. The budget included exemptions and relief measures for nearly all industries, and new businesses and products being brought into the tax net seemed far fewer in comparison. The automobile sector was a heavy…

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Karachi ranked among 10 least liveable cities

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In the latest ranking, Karachi has been placed on the list of 10 least liveable cities in the world. The Pakistan’s financial hub was ranked at 7th position while Bangladesh capital Dhaka was put at 4th. As per the 2021 edition of The Economist Intelligence Unit’s (EIU) Global Liveability Ranking, Damascus remains the world’s least liveable city. With an average score of 68.6, cities in the Asia-Pacific region scored below the average of 73.09 recorded before the pandemic began. In most liveable cities “Auckland rose to the top of the…

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Wind turbine giant Siemens Gamesa lays out plan to drive down cost of ‘green’ hydrogen

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o-called “green” hydrogen production using onshore wind turbines could achieve price parity with fossil-based hydrogen by the year 2030, according to a white paper from Siemens Gamesa Renewable Energy. In a statement on Wednesday the firm — a major player in wind turbines — also said that green hydrogen produced using wind from the offshore sector could achieve price parity by 2035. The above scenarios were dependent on having “appropriate policy frameworks and market mechanisms in place,” the statement said. Siemens Gamesa’s white paper outlines four key areas to help…

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People of Karachi agonised by power cuts, Sindh energy minister tells Nepra

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Sindh Energy Minister Imtiaz Shaikh has blamed the K-Electric (KE) for power outages in the city, saying that load-shedding has agonised the lives of the people of Karachi. He stated this on Friday as he participated via video-link in a meeting chaired by the National Electric Power Regulatory Authority (Nepra) chairman and attended by the chief executive officers of various power distribution companies and general public. The Sindh energy minister said hours-long power cuts on a frequent basis were no more tolerable by the people of Sindh. He said the…

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