Bonded Bulk Storage Policy will end fuel hoarding, reduce pressure on rupee: Musadik Malik


State Minister for Petroleum Musadik Malik announced on Wednesday that the Bonded Bulk Storage Policy 2023, recently approved by the Economic Coordination Committee (ECC) of the cabinet, will end the hoarding of petroleum products, reduce pressure on foreign exchange reserves and eliminate the fear of oil dry out in Pakistan. In a press conference, he said this policy will stop…

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ECC concerned at ‘higher generation cost’ of KE


ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is said to have expressed concerns over higher generation cost of K-Electric (KE), seeking a detailed plan of cost rationalization, well informed sources told Business Recorder. On June 21, 2023, during the ensuing discussion, Power Division shared detailed calculations and justification for the case and highlighted that Finance Division had agreed with…

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WAPDA, UAE group ink MoUs to address Pakistan’s energy crisis


In a groundbreaking development, the United Arab Emirates (UAE) has committed a substantial investment package to accelerate the adoption of sustainable energy solutions in Pakistan, further strengthening their bilateral ties. The Water and Power Development Authority (WAPDA) and the private office of Sheikh Ahmed Dalmook Al Maktoum here on Sunday signed two significant Memorandum of Understanding (MoUs) to undertake strategic…

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KP power deptt decides to appoint CEO of KPT&GC


The power department KP has decided to appoint any experienced senior officer with relevant field related to energy sector for the appointment of Chief Executive Officer (CEO) of Khyber Pakhtunkhwa Transmission & Grid Company (KPT&GC) established for the first time in the history of the province to run the electricity transmission system in Pakhtunkhwa in a better way. Provincial government…

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Solis’s innovative product lineup generates excitement and captivates visitors at Europe’s premier solar conference


Solis surpasses expectations at Intersolar Europe by unveiling inverter solutions that fulfill market demands 22 June 2023, Munich, Germany: Ginlong (Solis) Technologies, one of the global leaders in inverter production, successfully showcased its cutting-edge storage and inverter solutions at Intersolar Europe, the world’s leading exhibition for the solar industry, held on 13th-14th June. Solis presented a wide array of products…

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Outages surge as shortfall exceeds 8,500MW


LAHORE: Pakistan’s overall energy shortfall has surpassed 8,500 megawatts, sources told Geo News Sunday, as heatwave-like conditions across the country added to woes of people. Sources familiar with the matter said the country’s total energy requirement stands at 28,500 megawatts, while it was producing around 20,000 megawatts. The mercury went up to over 40°C in most parts of the country…

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Ambassador Blome stresses robust Pak-US ties on Karachi visit


KARACHI: US Ambassador to Pakistan Donald Blome visited Karachi between June 22 and 24 to further strengthen the robust bilateral economic partnership via the US-Pakistan “Green Alliance” framework and underscore the strong bilateral ties between the two countries. Ambassador Blome — accompanied by Consul General Nicole Theriot — was joined by Sindh Chief Minister Murad Ali Shah and other political,…

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UAE firm to pay $50m upfront to Karachi Port


KARACHI: Federal Minister for Maritime Affairs Faisal Sabzwari said on Friday that Abu Dhabi Ports (AD Ports) of the UAE will pay $50 million upfront to the Karachi Port and will invest $102 million for expansion in the next three to five years under a deal reached between AD Ports and Karachi Port Trust (KPT). Addressing a press conference, Sabzwari…

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