In Sindh, the 330-megawatt Thar Energy Limited Power Project Block-II is being completed under China-Pakistan Economic Corridor or CPEC. According to an official, the power plant would supply electricity to the national grid under a 30-year power purchase agreement. According to APP news agency, the power plant is a 330MW mine-mouth lignite-fired power project being built by Thar Energy, which…
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Wood Mackenzie’s Global Energy Summit Upstream Focus Day has addressed some of the biggest issues facing the industry. How will the upstream industry use an incoming US$1 trillion price windfall? Should Asian governments be doing more to resuscitate declining gas production? And what is the future for exploration in this region? In previous upcycles the pattern has tended to be…
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A dignified ceremony was held today at Murat Bey Customs Post in Istanbul to mark the arrival of the first two National Logistics Company (NLC) trucks carrying goods from Pakistan to Turkey, via Iran, under the Transports Internationaux Routiers (TIR) convention. The NLC trucks departed from Karachi on 28th September and reached Istanbul on 7th October covering a distance of 5300 Kilometers. …
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Construction industry’s boom provides tremendous opportunity for Turkish companies to invest in Pakistan: Turkey’s Consul General Karachi: The boom in the construction industry of Pakistan provides an excellent opportunity for prospective Turkish investors to invest and launch joint ventures with Pakistani businesses.This was stated by Turkey’s Consul General in Karachi, Tolga Ucak, while speaking as the chief guest at the…
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Pakistan’s oil consumption is gradually getting back to normal pre-Covid lockdown levels as economic activities regain momentum and international prices are again rising amid supply limits maintained by oil-exporting countries and other supply chain problems. Since May, global prices of Brent have surged by almost one-third (32 per cent) to $82 per barrel although forecasts by the US Energy Information…
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The contentious proposal to adopt a ‘weighted average cost of gas’ (WACOG) to reduce the rapid build-up of the circular debt in the gas sector is going to receive a “serious push” soon. “It’s a political hot potato… I’m told that within a few months there’s going to be a serious push on the political side to get (WACOG) through,”…
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The boards of directors (BoDs) of some state-owned power sector companies are flouting corporate governance rules-2013 by indulging in day-to-day affairs required to be handled by the executives under the law. The situation is worst at the National Transmission and Despatch Company (NTDC) — the country’s premier entity handling power evacuation, high-powered transmission lines and grids system. “Most of the…
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The government has decided to shift the headquarters of erstwhile Pakistan Electric Power Company (Pepco) from Lahore to Islamabad with a new nomenclature and fresh roles, but rejected the power division’s request to allow an 88 paisa per unit rise in tariff to meet an annual expenditure of Rs880 million. These decisions were taken at a meeting of the Cabinet…
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The International Monetary Fund (IMF) has asked Pakistan to withdraw around Rs300 billion sales tax exemptions to qualify for the next loan tranche of $1 billion, taking the demand for the additional revenue requirements to over Rs525 billion. The tax authorities have shown willingness to take back nearly Rs260 billion sales tax exemptions as a quid pro quo for not…
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China Three Gorges Group (CTG) called on the Pakistani ambassador to China on Friday and showed keen interest in investing in Pakistan’s wind and solar energy sectors. During the meeting, the CTG delegation led by Vice-Presidents Wang Shaofeng and Qin Guobin informed the Ambassador about the current status of its ongoing power projects in Pakistan. They informed that work on…
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