Month: July 2023

Who really owns K-Electric?

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Power-voices

LONDON: In recent times, the complex ownership structure of K-Electric (KE) — a pivotal cornerstone of Pakistan’s national security infrastructure — has become a subject of intense scrutiny in relation to the ongoing proceedings at the Cayman Island Court for the full control of the company. The ownership structure has come under discussion after it was reported that the majority shareholding of K-Electric has been taken over by Sage Venture Group Ltd, a British Virgin Islands-registered special purpose company wholly owned by AsiaPak Investments Ltd, a venture of businessman cum…

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Pakistan’s $8bn green shift

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China-bank

KARACHI: Pakistan’s energy sector could save more than $8 billion over the next decade by adopting more efficient and cleaner power generation strategies, a study released on Tuesday said. The study, conducted by the Policy Research Institute for Equitable Development (PRIED) and the Renewables First, a consultancy firm, analysed the government’s Indicative Generation Capacity Expansion Plan (IGCEP) 2022-31 and proposed alternative scenarios based on renewable energy sources. It found that Pakistan could increase the share of wind and solar power in its energy mix to 47 percent by 2031, compared…

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MG Motors shifts gears to alternative energy vehicles

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energy-vehicles

KARACHI: As the auto industry shifts towards greener technologies across the world, MG Motors Pakistan has also stepped up efforts to get in the same lane with plans to introduce hybrid, plug-in hybrid and fully electric vehicles. The company has already tasted success with its MG HS sports utility vehicle, both the imported and locally assembled petrol versions, selling a total of 15,000 units in the last two and a half years. For now, the company is looking to launch two new MG HS variants — Excite and 2.0 AWD…

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Petroleum margins to be hiked from Sept 1

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Petrol-price

KARACHI: The increase in petroleum dealers’ margin on petrol and diesel in four equal fortnightly hikes of 41 paise per litre (total Rs1.64) will become effective from Sept 1. Pakistan Petroleum Dealers Association (PPDA) Chairman Abdul Sami Khan on Tuesday said that after a detailed discussion in the presence of the Oil and Gas Regulatory Authority chairman, Oil DG and the managing director of PSO on Monday, the PPDA had mutually agreed on the revision in margins. He said the proposal would be submitted to the competent authority and after…

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Thar Coal Energy Board approves coal tariff of Block-I & Block-II

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coal

KARACHI (July 25): The Thar Coal Energy Board in its 25th meeting held under the chairmanship of Sindh Chief Minister Syed Murad Ali Shah approved a levelized tariff of $ 37.36 per ton for the Financial Close stage petition for 7.8 million tons per annum of Block-I and a levelized tariff of $ 30.40 per ton for Contract stage petition for 11.2 million tons per annum of Block-II .The meeting was held at CM House and was attended by Federal Planning Minister Mr. Ahsan Iqbal (through video link) Energy Minister…

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