Year: 2021

ECC approves deal with K-Electric

Admin

The Power Division has claimed to have saved consumers from a burden of around Rs170 billion due to removal of the ‘fairness and equity’ clause from an arbitration deal between K-Electric and state-run power utilities. Sources told The Express Tribune that the issue of arbitration deal between K-Electric and state-run entities – National Transmission & Despatch Company (NTDC) and Sui Southern Gas Company (SSGC) – was taken up in a meeting of the Economic Coordination Committee (ECC) on Friday. The ECC, chaired by Finance Minister Shaukat Tarin, decided not to…

Read More

Will The World’s Largest Oil Region Become A Hydrogen Hub?

Admin

The biggest oil-exporting region in the world, the Middle East, has set its sights on becoming a major clean energy exporter of green hydrogen. The largest oil producers in the Arab Gulf have jumped on the hydrogen bandwagon — especially its so-called green variety produced from water electrolysis using electricity from solar or wind — as it gains momentum with governments and the world’s largest international oil companies. Hydrogen is expected to play a prominent role in lowering carbon emissions from energy-intensive industries. And the Middle East doesn’t want to…

Read More

Koto hydropower project to be completed by Dec

Admin

About 90 per cent work on the under-construction Koto hydropower project (Koto-HPP) has been done and it will be completed by December this year, said assistant project director while briefing a team of the district administration. The team, including deputy commissioner Aun Haider Gondal, Timergara assistant commissioner Tahir Ali and other officials, visited the project site here the other day. Giving details, Koto-HPP assistant director Mohammad Shuaib said the powerhouse would generate 40.8MW of electricity that would be added to the national grid. He said that the remaining 10 per…

Read More

Two ex-PIA chairmen, former CEO booked for causing loss of Rs1.25 billion

Admin

The Federal Investigation Agency (FIA) on Monday registered a case against two former chairmen of Pakistan International Airlines (PIA), a former acting CEO, and arrested a former director of the national airline on charges of causing losses of over Rs1 billion to the exchequer. FIA Sindh Director Amir Farooqi told Dawn the investigative body had registered a case against PIA ex-chairmen Nasser Jaffer and Irfan Elahi and former acting CEO Bernd Hildenbrand and also detained former director engineering Maqsood Ahmed. “They caused loss of Rs1.25bn and made advance payments for…

Read More

300MW hydropower plant: $300m loan agreement inked with ADB

Admin

 The Asian Development Bank (ADB) and the government of Pakistan on Friday signed a $300 million loan agreement to finance the construction of a 300-megawatt hydropower plant in Balakot, Khyber-Pakhtunkhwa. The ADB Acting Country Director, Cleo Kawawaki, and Ministry of Economic Affairs Division Secretary Noor Ahmed signed the loan agreement for the project, which was approved by the ADB on March 30, 2021. Minister for Economic Affairs Omar Ayub Khan, Chief Minister Khyber-Pakhtunkhwa Mahmood Khan, and ADB Director General for Central and West Asia Yevgeniy Zhukov, witnessed the ceremony. Total…

Read More