Month: September 2022

Domestic consumers: Power tariff adjustments will continue, IMF assured

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he government has assured the International Monetary Fund (IMF) that it will continue adjustments in power tariffs for domestic consumers sans protected slabs and also rationalize subsidy plan for tubewells for large agricultural users by November 2022. This commitment has been given to the Fund under the Seventh and Eighth Review of the extended arrangement under the Extended Fund Facility. According to the Fund, the authorities have reaffirmed that it is the only spending authority in the country to grant power subsidies, which it will limit to Rs 570billion thanks…

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Govt bound to hike gas prices, fuel GST under IMF deal

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The government has committed more utility price shocks under a straightjacket implementation plan with the International Monetary Fund (IMF) involving an over 53 per cent increase in gas rates, the revival of general sales tax on petroleum products and withdrawal of more subsidies. The IMF released a deta­iled 112-page country report on Friday on the completion of the seventh and eighth reviews of the extended fund facility (EFF), under which Pakistan has also committed to ensure electronically filed tax and asset details of grade 17 to 22 officers and members…

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GoodWe donates its SDT G2 10kW Inverter to Energy Training and Research Center(ETRC) in Pakistan, paves way for Clean & Green Future

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GoodWe donated it’s latest SDT G2 10kW inverter to Energy Training and Research Center-ETRC, one of the most prestigious training schools in Pakistan. GoodWe Pakistan’s Technical Services Manager, Mr. Ahmad Rafay Asad and ETRC Founder Mr. Faiz Bhutta participated in the ceremony and gave technical training to the Academy. With such initiatives, GoodWe aims to help the next generation of PV installers learn about the latest technologies and techniques. As the global energy demand is rising, Pakistan is one of the most growing markets for solar inverter business, targeting to…

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LONGi Records a 44% YoY Increase in Revenue in H1 2022

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In the H1 of 2022, LONGi’s operating performance increased steadily, achieving a consolidated operating revenue of 50.417 billion yuan, a year-on-year increase of 43.64%. The net profit attributable to the shareholders of the listed company was 6.481 billion yuan, up 29.79% year on year, among which the net profit attributable to the shareholders of the listed company excluding non-recurring gains and losses was 6.405 billion yuan, up 30.58% year on year, and the basic earnings per share came in at 0.86 yuan, up 30.3% year on year. Strengthened product competitiveness…

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Sustainable Development Policy Institute holds two day Annual State of Renewables Conference in Karachi

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Dr Shamshad Akhtar, Former Finance Minister, criticized insufficient financial cooperation extended by leading greenhouse gas emitters to climate change vulnerable countries and said “climate change mitigation and adaptation annually requires 7-14 Billion which is well beyond Pakistan’s financial constraints”. She was speaking at the first “Annual State of Renewables Conference 2022” organized by Sustainable Development Policy Institute (SDPI) in collaboration with Unilever here on Thursday. She stressed on need to decarbonize energy generation and reforming policies to address high import dependence, removing low tariff and subsidies on energy supply to…

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