Year: 2021

Global hydropower industry launches ESG standard to attract investors

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LONDON, Sept 8 (Reuters) – The Hydropower Sustainability Council (HSC) has launched an environmental, social and governance (ESG) performance standard to enhance transparency in the industry and give investors more confidence in backing new projects, it said on Thursday. Hydropower supplied one sixth of global electricity in 2020 but new projects have slowed, partly due to lengthy permitting processes, risks from environmental assessments and opposition from local communities. read more “The hydropower sector needs a credible, transparent certification scheme that will incentivise the best projects,” Ashok Khosla, chair of the…

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KKHPP tenders: Wapda allows Power China to join in

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The Water and Power Development Authority (Wapda) has reportedly allowed Power China to participate in its tenders despite terminating the contract of 128 MW Keyal Khwar Hydro Power Project (KKHPP). Official documents and informed sources revealed to Business Recorder that Wapda issued the civil works, ie, hydro steel works of 128 MW KKHPP to M/s Sinohydro – Hajvairy JV on August 28, 2014 after competitive bidding under Public Procurement Regulatory Authority (PPRA) rules. Federal Investigation Agency (FIA) is investigating the matter. The Auditor General of Pakistan, in its recent audit report, raised…

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Automated Metering Infrastructure project to be discussed today

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The Cabinet Committee on Energy (CCoE) will meet on Monday to discuss the $400m Automated Metering Infrastructure (AMI) project likely to be installed in Islamabad and Lahore. Pakistan has been paying millions of dollars in commitment charges for not using Asian Development Bank’s (ADB) funding for this project that includes a smart electricity meter grid with full communication and data infrastructure, customer care and billing centres. These specialized meters will provide real-time data on such factors as voltage and amperage to servers to be set up at distribution companies. The…

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Gas supply to industrial, CNG sectors to continue

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According to an announcement made by the company here on Sunday, Sui Northern Gas Pipelines Ltd (SNGPL) will endeavour to minimise gas disruptions to the extent possible during the dry docking period for its consumers. Moreover, a senior official added that a decision in respect of supply of gas on September 14 and 15 (dry docking period) will be conveyed later based on the system pack situation. Consequently, industrial units including cement, non-export general industry and all CNG filling stations will remain open following deferring the closure decision. Ghiyas Paracha,…

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The profitability of banks

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Banks continued making profits during the first half of 2021. They made profits not only on heavy investment in government debt securities but also on private sector credit. Banks’ net lending to the private sector in July-June 20-21 got a boost during the second half ie January-June 2021 — when extraordinary monetary easing (carried out during March-June 2020) and fiscal stimulus package of the government had a fuller impact on credit demand with some time lag. Between mid-March and end-June 2020, the State Bank of Pakistan (SBP) had cut its…

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