Month: February 2022

Sino-Sindh Resources Ltd (SSRL) said on Monday it successfully extracted the first shovel of lignite coal at Block 1 of the Thar coalfields near Islamkot Town of Tharparkar, Sindh. Block 1 boasts lignite coal deposits of over three billion tonnes (equivalent to over 5bn barrels of crude oil) with an annual output of 7.8 million tonnes. SSRL, whose majority shareholder is Shanghai Electric Group, was granted a mining lease on May 24, 2012, and the project was included in the Joint Energy Working Group by the governments of Pakistan and…

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With Islamabad vying for price cut, the energy ministers of Pakistan and Turkmenistan met on Monday for discussions on two major energy import projects, including the way forward on execution of multi-billion dollar Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project. Pakistan had already taken up with Turkmenistan the issue of gas price review and delivery point of gas under TAPI pipeline project in previous meetings. In the existing gas sales purchase agreement under TAPI, the gas delivery point is Afghanistan-Turkmenistan border but given the Afghan situation, Pakistan wanted a gas delivery point…

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Engro Corporation CEO Ghias Khan will serve as president of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2022 term, a press release said on Monday. Unilever Pakistan CEO Amir Rasool Paracha will be vice president, it added. “Pakistan offers considerable growth potential for existing and new foreign investors,” the statement quoted Mr Khan as saying. He holds an MBA from the Institute of Business Administration, Karachi.

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KARACHI, LAHORE and ISLAMABAD, February 1, 2022: Demanding the government to revoke imposition of general sales tax on solar panels and electric vehicles, a civil society group striving to promote renewable energy has asked the International Monetary Fund (IMF) to play a responsible part in developing socially just and environmental friendly financing solutions in Pakistan. Alliance for Climate Justice and Clean Energy (ACJCE) has made these demands in a letter written to the IMF board ahead of its meeting for Pakistan’s sixth review, following the recent imposition of 20% GST…

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A technology company called Our Next Energy (ONE) says it’s demonstrated a prototype battery in an electric vehicle that traveled 752 miles without recharging. The experimental battery, retrofitted into a 2021 Tesla Model S, drove across Michigan in late December at an average speed of 55 mph, ONE says. Next up is a new product called Gemini, “which will enable long distance trips on a single charge while improving cost and safety using sustainable materials,” Founder and CEO Mujeeb Ijaz said in a statement. News of the “paradigm shift” continues to travel…

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