Month: September 2023

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 devise a mechanism to reduce the cost of electricity involving: (i) implementation of wheeling at cost of 1 cent per unit; and (ii) formulation of a committee on capacity charges…

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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 electricity. He said that according to the statistics of Wikipedia, Pakistan’s electricity generation capacity as of June 30, 2022 is 43,775 MW, which includes 26,683 MW thermal, 10,635 MW hydro,…

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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 and Businessmen Panel (BMP) Chairman Mian Anjum Nisar, calling for charting out a viable way forward to promote renewable energy transition under worsening global and domestic energy inflation for sustainable…

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LONGi’s founder and president Li Zhenguo calls for promoting the implementation of the UN 2030 Agenda for Sustainable Development

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Sustainable-Development

NEW YORK, September 17, 2023 —LONGi‘s founder and president Li Zhenguo attended the Innovation for Industrial Sustainability event together with business leaders, academic experts and United Nations officials in New York, held on the sidelines of the 2023 UN Sustainable Development Goals (SDG) Summit. The event, jointly hosted by the United Nations Department of Economic and Social Affairs (DESA), Tsinghua University and UN Water, featured keynote speeches and panel discussions on topics such as sustainable consumption and production, renewable energy applications in businesses, and green industry practices. Speaking at the…

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LONGi joins UN Global Compact Forward Faster initiative to accelerate private sector action to reach SDGs

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LONGi-Green

[NEW YORK, September 18, 2023] – The world leading solar technology company LONGi Green Energy Technology Co., Ltd. (LONGi) joined a new initiative today at the Private Sector Forum during the SDG Summit 2023 to accelerate private sector action at the pace and scale needed to deliver on the 17 Sustainable Development Goals (SDGs) and meet the 2030 Agenda. The UN Global Compact Forward Faster initiative calls on business leaders everywhere to take measurable, credible and ambitious action in areas that have the power to accelerate progress across all 17…

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