Month: August 2023

Barrick open to Saudi stake in Reko Diq

Admin
barrick

TORONTO: Barrick Gold Corp is open to bringing in Saudi Arabia’s wealth fund as one of its partners in Pakistan’s Reko Diq gold and copper mine, Barrick CEO Mark Bristow told Reuters in an interview on Tuesday. He also dismissed a June media report that Barrick was in talks with fellow Canadian miner First Quantum Minerals on a possible acquisition as a “rumour”. Barrick Gold owns a 50 per cent stake in Pakistan’s Reko Diq mine, with the remaining 50pc owned by the governments of Pakistan and the province of Balochistan. Barrick…

Read More

The Pipeline of Power, Prosperity and Possibilities — Geopolitical and Diplomatic Blockades

Admin
iran-gas-pipeline

In a world where energy security stands as a linchpin of progress and prosperity, Pakistan’s decision to halt the ambitious Iran-Pakistan Gas Pipeline Project has ignited a discourse that intertwines economic aspirations, diplomatic maneuvers, and strategic intricacies. The complexities inherent in this choice reverberate beyond mere energy dynamics, encompassing a plethora of benefits and challenges that must be meticulously weighed. As the globe treads the precipice of an energy crisis, Pakistan’s stance on this critical juncture echoes far beyond its borders, reaching into the very heart of Pakistan’s global standing.…

Read More

Neelum-Jhelum hydropower project connected to national grid

Admin
Neelum-Jhelum

ISLAMABAD: At last, after one year and one month, the 969 MW Neelum-Jhelum hydropower project that became non-operational on July 6, 2022, due to a blockage in the 3.5 km Tail Race Tunnel (TRT) has been connected to the national grid by making one unit of 242.25 MW operational. Out of the remaining three units, two units would be made functional today (Tuesday) and the fourth unit would be rendered fully operational by tomorrow (Wednesday) — the last day of the current regime, the top officials of the Water Resources…

Read More

Tariff increases for KE consumers merged with Discos for uniformity

Admin
Nepra-tariff

ISLAMABAD: Before leaving office, the PMLN-led coalition government on Monday approved the merger of quarterly tariff increases for K-Electric with other distribution companies (Discos) seeking more than Rs4 per unit additional cost worth Rs145 billion for recovery in July-September billing, besides clearing amendments to the power transmission policy for speedy investments from Gulf Cooperation Council (GCC) through negotiations on government-to-government (G2G). The decisions were taken at a meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Minister Ishaq Dar. The ex-Wapda distribution companies (Discos) have…

Read More

CCoE okays refining, power policies

Admin
Ishaq-Dar

ISLAMABAD: In a rare move, Finance Minister Ishaq Dar on Monday presided over a meeting of the Cabinet Committee on Energy (CCoE) on behalf of Prime Minister Shehbaz Sharif and approved three major policies including incentives for upgradation of old oil refineries, implementation of about 20 renewable energy projects blocked for years and national electricity plan. The CCoE is led by the prime minister and comprised seven ministers including the finance minister. The sources said Mr Dar, who remained in the headlines recently for being considered for the post of…

Read More