Month: January 2022

FPCCI urges govt to raise forest cover up to 25pc

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The newly elected President of the Federation of Pakistan Chambers of Commerce and Industry Irfan Iqbal Sheikh Tuesday urged the government and private sector to join hands for raising forest cover from 5 to 25 percent to meet the ever-growing needs of the furniture industry in the country. Talking to Mian Kashif Ashfaq, CEO of Pakistan Furniture Council (PFC) today Irfan Iqbal Sheikh said that currently, furniture and local industries were experiencing serious supply shocks, which were not only impeding their further growth, but also adversely affecting their international competitiveness.…

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KE granted Rs1.07/kWh FCA

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National Electric Power Regulatory Authority (Nepra) approved a fuel charge adjustment (FCA) of Rs.1.0751 per kWh for K-Electric (KE) for the month of October 2021, a notification said on Tuesday. NEPRA notified the FCA for KE that had applied for the adjustment, after a hearing held on Nov 30, 2021. The authority approved the FCA of Rs. 1.0751/kWh for Oct 2021 having an impact of Rs1,910 million, to be recovered in the bills of January 2022 from KE consumers. Authority declared that the FCAs shall be applicable to all the…

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PARCO set to sell HFSO at lower than ex-refinery price

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Pak-Arab Refinery Limited (PARCO) has received Rs72,000 per tonne bid for export of its high sulfur fuel oil (HSFO) against the ex-refinery price of Rs86,000 per tonne, The News learnt on Tuesday. PARCO floated the tender for sale of its HSFO, which the company has started to store at Port Qasim for export purposes. It has stored 46,000 tonnes of HSFO at Port Qasim for export. Its stocks piled up because independent power producers (IPPs) were not buying the commodity for the last several weeks. “Company plans to store 50,000…

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Germany, Austria Blast EU’s “greenwashing” of natural gas projects

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Germany and Austria came out strongly against the European Union proposal to classify some natural-gas and nuclear projects as sustainable investments, with both countries accusing the bloc of “greenwashing.” In Berlin, the Greens — who joined Germany’s new ruling coalition following September’s election — criticized the regulatory plan as damaging the credibility of the EU green rulebook, known as taxonomy, and threatening to divert investment away from renewables. The country is phasing out nuclear energy and wants to shut all its atomic power plants by year’s end. “It’s a kind…

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Azam takes charge as PM’s aide

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Prime Minister Imran Khan has appointed Azam Jamil as his Special Assistant for Tourism Coordination. With an illustrious career in the hospitality and tourism industry starting with Intercontinental Hotels in the mid-seventies and spanning well over four decades, Azam has been responsible for spearheading some of the key projects and institutions that shape Pakistan’s tourism industry in the present day. Educated at the Aitchison College and Burn Hall, he went on to gain higher degree at the University of Karachi and was ultimately sent to Cornell University by Intercontinental Hotels.…

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