Day: October 6, 2021

Public debt up by Rs14.9tr during current govt

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Pakistan’s total public debt has gone up by Rs 14.9 trillion during the current government as it increased sharply from Rs24.953 trillion by the end of FY2018 to Rs39.859 trillion till June 30, 2021. “The total public debt has gone up by Rs3.46 trillion in the last fiscal year as it went up from Rs36.399 trillion in June 2020 to Rs39.859 trillion till end-June 2021. The federal primary deficit (surplus) Rs 967 billion, interest payment of Rs2,750 billion and depreciation of exchange rate (rupee against US dollar) contributed Rs 665…

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True cost of ‘incredible’ decarbonization task yet to be realized: TotalEnergies’ Pouyanne

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The world has yet to grasp the scale of the task of removing carbon emissions from the energy system, with oil demand likely to be around the 90 million b/d level by the end of this decade, or about 10% below pre-pandemic levels, TotalEnergies CEO Patrick Pouyanne said Oct. 5. Speaking at the Energy Intelligence Forum, Pouyanne, whose company was renamed from Total earlier in the year, warned that if the mounting calls to stop investing in new oil and gas projects were heeded, prices would “rocket to the roof,”…

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Today’s global energy crisis is just the first in the “clean power” era

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The world is living through the first major energy crisis of the clean-power transition. It won’t be the last. The shortages jolting natural gas and electricity markets from the UK to China are unfolding just as demand roars back from the pandemic. But the planet has faced volatile energy markets and supply squeezes for decades. What’s different now is that the richest economies are also undergoing one of the most ambitious overhauls of their power systems since the dawn of the electric age — with no easy way to store…

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Tahir Cheema joins Aptma as energy adviser

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Tahir Basharat Cheema, former managing director of the Pakistan Electric Power Company (Pepco), has joined the All Pakistan Textile Mills Association (Aptma) as energy adviser. Cheema is a qualified engineer and also possesses a Master’s degree in Business Administration. He has worked on various positions in the Water and Power Development Authority (Wapda), besides managing the affairs of Pepco, energy management for the whole power sector in Pakistan, monitoring of operations of the corporatised entities of Wapda, assisted Aptma chairman in the managerial affairs and operation and maintenance wing of…

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Cabinet confirms concessional winter power tariff

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The government on Tuesday approved the seasonal concessional electricity package for domestic and commercial consumers for the off-peak November-February period, granting a concession of up to Rs7/unit. This concession will be available to these power consumers on the additional units of power consumed in given month over same month of the last year, according to an official handout. Minister for Energy (Power Division) Hammad Azhar announced this decision of the cabinet through a tweet saying: “The cabinet has approved the seasonal electricity package. Any additional electricity consumed by domestic and…

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