Month: July 2022

Global electricity demand slows on weaker economic growth and soaring prices

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Electricity demand growth worldwide is slowing sharply this year as the global economy slows and energy prices remain high, according to the International Energy Agency. Demand is forecast to grow by 2.4 per cent in 2022, lower than the IEA’s roughly 3 per cent growth forecast at the start of the year and down from the 6 per cent increase recorded in 2021, the IEA said in its latest Electricity Market Reporton Wednesday. The latest expectation brings electricity demand growth for this year in line with its average growth rate over the five…

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ECC approves placing uniform tariff for KE

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The Economic Coordination Committee (ECC) of the Cabinet on Wednesday granted approval for placing a uniform tariff for K-Electric (KE) and raised the tariff to Rs1.55 per unit on an average to bring it on a par with other Power Distribution Companies (Discos) operating in the country. The ECC also approved import of 200,000 tons of urea fertiliser and 300,000 tons of wheat in order to create buffer stocks of the basic food item of the country. The ECC approved authorising the Trading Corporation of Pakistan (TCP) to import 200,000…

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Pakistan’s performance under GSP+

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Coming months are crucial for Pakistan as the European Union looks into extending its generalised scheme of preferences plus (GSP plus) status for 2024, a scheme from which Pakistan was set to benefit up to December 2023. The GSP plus allows zero duty on the import of certain items to the EU from designated countries. In this regard, Friedrich Naumann Foundation for Freedom Pakistan and Policy Research Institute of Market Economy (PRIME) jointly published a timely policy paper. “Pakistan must start prepping itself for the GSP+ 2023-33 status. For the…

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LONGi And Global Professionals Discuss Module Size Design at ‘Roundtables Europe 2022

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During the pv magazine organised Roundtables Europe 2022, the key issues of photovoltaic and energy storage technology were debated by industry professionals from LONGi, PI Berlin, the Austrian National Institute of Technology (AIT) and the European EPC Belectric. In a session entitled ‘Module design choices, reliability and revenue expectations’, the group discussed issues including whether there is an optimal module size in terms of reliability and LCOE and how to select reliable photovoltaic modules. The experts pointed out during the session that one of the most important indicators for module…

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Businessmen Fear Closure of Factories

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Business community has urged the government to reach out to the stakeholders as there is a dire need to instill a sense of confidence into them and rebuild their sentiment to stabilise the worsening rupee-dollar parity. The unprecedented volatility in the rupee-dollar parity is playing havoc with the economy. Imports of essential commodities and industrial raw material would cease if the present bout of downward currency spiral continues, said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) acting President Suleman Chawla in a statement. “The situation is so grave…

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