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Day: September 25, 2023

Hopewind plans to build technical support teams, hold training sessions to harness Pakistan’s clean energy potential

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Hopewind-plans

Hopewind, the world’s leading renewable energy equipment producer, has plans to build technical support teams in Pakistan comprising local technicians for efficient service to its customers using clean energy options for energizing their homes and offices. “We have also plans to conduct local R&D activities to promote and support the Pakistani renewable sector for maximum utilization of solar and wind…

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SNGPL imposes Rs55m in fines over gas pilferage in Punjab, KP

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sngpl.jpg

LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) teams have disconnected 7,187 connections — 7,144 domestic and 43 commercial — in several operations from September 8 to date in Punjab and Khyber Pakhtunkhwa due to gas pilferage and other complaints. The company imposing heavy fines totalling Rs55.2 million, according to an SNGPL spokesperson. “Over the past 17 days, we have disconnected…

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Is the worst behind Pakistan’s economy?

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Pakistan-economy

ISLAMABAD: While it remains too early to assert definitively, several indicators suggest that Pakistan’s economy may have weathered the worst of its recent challenges. There were serious concerns that due to the IMF’s push for easing import controls and letting the exchange rate float, the rupee may see further free fall. However, after hitting a record low of Rs335 on…

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Boosting industrial competitiveness: SIFC executive body seeks a financial plan

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Shamshad-Ather

ISLAMABAD: The Executive Committee of Special Investment Facilitation Council (SIFC) has directed that a financial plan be prepared to introduce industrial tariffs based on cost of service to tackle the issue of cross subsidy for domestic users, which is eroding competitiveness, sources close to caretaker Finance Minister told Business Recorder. Secretary Commerce, Secretary Finance and Secretary Power have been directed to…

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Agreements with IPPs the reason behind power crisis: Shaikhani

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power-subsidy

HYDERABAD: President of Hyderabad Chamber of Small Traders & Small Industry Muhammad Farooq Shaikhani has said that the main reason for the electricity crisis in Pakistan is the contracts made with Independent Power Producers (IPPs) along with electricity stealing and the consequences are always borne by the traders and the people in the form of non-availability of electricity and expensive…

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BMP assails Nepra for another power rate hike

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power-sector

LAHORE: The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) has assailed the NEPRA to approve another electricity rate hike of up to Rs3.5 per unit under quarterly adjustments, leading to an additional burden of Rs136 billion on power consumers, as energy affordability for industry is critical to boost economic growth in the country. FPCCI former president…

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