Day: July 8, 2022

Austria, Germany, Italy and the Netherlands announced plans this week to prepare to resurrect old coal plants as gas supplies dwindled. The moves came just days after Moscow reduced natural gas flows to several European countries, including Italy and Slovakia, alarming leaders who are worried about energy reserves ahead of winter. Are you on Telegram? Subscribe to our channel for the latest updates on Russia’s war in Ukraine.That’s not the direction in which these government wanted to move. A return to coal would controvert climate policy already in place in…

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It landed like a bombshell. On the 5th of July, the State Bank of Pakistan (SBP) updated its list of products for which “prior permission” will be required and LCs can be opened for their import. Among the products added to the list – solar panels, inverters, and batteries. The requirement had been in place since May 20, but this new circular expanded the coverage to all items under HS codes 84 and 85, which includes “nuclear reactors, boilers, machinery and mechanical appliances and parts thereof,” as well as “electrical…

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M/s General Electric (GE) has demanded $ 100 million for upgradation of RLNG-fired power plants in Punjab, which the government is endeavoring to privatize for long, well-informed sources told Business Recorder. Sharing the details, sources said, a meeting was recently held at SNGPL head office, wherein implementation of CCoE/ ECC decision for waiver of minimum 66 per cent take or pay commitment in Power Purchase Agreements (PPAs) and Gas Supply Agreements (GSAs) of three LNG public sector power plants through modification/amendment came under discussion. During the meeting, besides discussion on amended…

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The government on Thursday approved an increase in natural gas prices in the range of 43% to 235% with effect from July 1 in a bid to recover Rs660 billion from the majority of domestic and all other categories of consumers. Addressing a news conference, Minister of State for Petroleum Dr Musadiq Malik said, “Nearly half of the domestic consumers have been protected from the surge but the burden on the upper class has been massively increased.” The decision was taken by the Economic Coordination Committee of the Cabinet (ECC)…

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Indus Motor Company (IMC) joined hands with The ChildLife Foundation, pledging its support with a Rs 6.50 million donation, towards establishing the ChildLife Resuscitation Room – equipped with cutting-edge life-saving medical equipment – at the Children’s ER (Emergency Room) at the Pakistan Institute of Medical Sciences (PIMS), Islamabad. In addition, this Resuscitation Room will also provide Telemedicine support through its Telemedicine Control Room at the Ruth Pfau Civil Hospital, Karachi. The facility is set to be operational in August 2022. The cheque was presented by IMCs Head of CSR and…

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In a bid to boost the renewable energy sector, the government will announce a national solar energy policy on August 1. The implementation of the policy will be subject to the approval of the Council of Common Interests (CCI). The development came during a meeting of the Energy Task Force, which was held on Thursday in Islamabad, under the chairmanship of Prime Minister Shehbaz Sharif. During the meeting, it was decided that the Prime Minister’s House and the Prime Minister’s Office will be shifted to solar power on an emergency…

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