Year: 2022

Were Traders Too Quick To Dump Oil?

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The risk of the global economy slowing down further and slipping into negative growth territory has been on a strong increase in the past few months. So much so that oil prices lost about a quarter of their value in the third quarter after rising strongly over the first two quarters of the year. It appears that this was only the beginning. Now, the UN is warning that a recession is imminent, and oil traders are selling their position and fleeing a market that may very soon see a positive…

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NEPRA slaps Rs10m fine on NTDC over 2021 breakdown

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Sharing details of the decision, the NEPRA said that the fine on NTDC was imposed over its failure to provide adequate electric supply during September 2021 breakdown. “The NTDC took 2.33 hours to fully restore electricity from Jamshoro Grid Station.” The NEPRA added that it issued a showcause notice to the body to probe the failure, but NTDC failed to reply within the given time. On September 1, last year, several areas of Karachi faced power outages which were caused by the tripping of an extra high tension (EHT) transmission…

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DMC South, NFEH to work together for tree plantation, upgrade parks & awareness campaign

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The administration of District South in Karachi has joined hands with the National Forum for Environment and Health (NFEH) to jointly work to increase the tree cover in the downtown city area.The decision to this effect was reached as a delegation of NFEH held a meeting with District South Administrator, Dr. Afshan Rubab.The meeting decided that the two entities would also jointly work to improve the conditions of the public parks in the District South area.The District South Administrator was briefed about the different public service activities of the NFEH.…

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NTDC handed Rs10m fine

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feeders

The National Electric Power Regulatory Authority (Nepra) has imposed a fine of Rs10 million onthe National Transmission and Despatch Company (NTDC) on account of a partial blackout during September 2021. The blackout occurred on September 1, 2021 at 1609 hours when several parts of Karachi plunged into darkness after the entire K-Electric system tripped following a lightning strike on the Jamshoro circuit, according to a statement released on Tuesday. As a result of the lightning strike, the power generation units of K2 (1,030 megawatts), Hub Power (60MW), China Hub Power…

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Country offers tax relief for solar energy

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solar

Federal Minister for Industries and Production Makhdoom Syed Murtaza Mahmood has said that the government is offering certain tax incentives and allowing duty-free import of inputs, plant and machinery to promote solar energy. He was speaking at a workshop on “Solar panel and allied equipment manufacturing policy”, organised by the Engineering Development Board (EDB). The minister noted that Pakistan had reserves of basic raw material for producing solar wafers and could start local assembly in the first phase, which could be done by rationalising duties and taxes on solar panel…

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