Iran ready to support for energy needs of Pakistan


Islamabad. Ambassador of the Islamic Republic of Iran to Pakistan H.E. Dr. Reza Amiri Moghaddam called on Caretaker Federal Minister for Power and Petroleum Muhammad Ali today in Islamabad. Both sides discussed areas of mutual interest and promotion of brotherly relations between two countries.The Energy minister welcomed the Iranian ambassador and expressed his resolve for further strengthening the ties. Ambassador…

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COAS assures traders of ‘transparency’ in forex rate


LAHORE: Chief of Army Staff (COAS) General Asim Munir on Sunday assured the business community of fostering transparency in dollar exchange and interbank rates. “The money exchanges would be brought under the purview of taxation, fostering transparency in dollar exchange and interbank rates,” the COAS said while talking to the business community at a meeting held at the Lahore Corps…

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Free electricity quotas merely tip of iceberg


• Power sector employees, govt officials using ‘free electricity’ worth Rs22bn yearly• Need stressed to review IPPs agreements as liabilities surge to Rs2tr LAHORE: The total cost of free electricity units being used by the state-owned entities in the country’s power sector alone ranges between Rs22 billion and Rs25bn per annum whereas the allowances being given to other government departments’…

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Electricity issues cast dim light on engineering sector


• PIDE survey reveals 83pc firms link inability to meet targets with lack of power• 78pc companies say electricity scarcity hinders operational efficiency ISLAMABAD: Despite surplus power generation capacity, most of the country’s engineering firms have held electricity scarcity and its poor supply responsible for their inability to meet production goals and achieve operational efficiency, thus losing competitiveness, whereas 95…

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Pakistan needs energy reforms to break free of debt: US official


WASHINGTON: Pakistan needs to undertake energy reforms and opt for renewable energy sources, said a senior US official, stressing that reforms suggested by the International Monetary Fund (IMF) would help Islamabad break the “vicious circle of debt and international financing”. Principal Deputy Assistant Secretary Elizabeth Horst, who heads the Bureau of South and Central Affairs at the State Department, emphasised…

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Change of power purchaser: PPIB forms tech body to ascertain pros, cons


ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has constituted a seven-member special technical committee to take a global view to ascertain whether the government of Pakistan (GoP), as shareholder of its entities, will be better off in financial terms, if power purchaser of 300-MW coal project of M/s Siddiqsons Energy Limited (SEL) is changed from CPPA-G to KE, sources…

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