Year: 2023

IRSA negligence reduces chances of Mangla Dam reaching optimum level

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Mangla-Dam

LAHORE: The chances of Mangla Dam filling up to its optimum level have diminished following the Indus River System Authority’s (IRSA) inaction, an official said on Monday. Punjab’s reliance on Mangla Dam for meeting its irrigation requirements have resulted in lesser water storage in the dam. Referring to an assessment made by the Punjab Irrigation Department, the official said that usually Jhelum River flow started increasing in mid-April, but abnormally cool weather in early to mid-summer months this year led to moderately low inflows. Referring to the statistics till June…

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Tax Incentives To Supercharge U.S. Clean Energy Transition

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Clean-Energy

The U.S. Department of the Treasury and the IRS have released guidance on tax credits as part of the Inflation Reduction Act (IRA), which allows tax-exempt entities to engage directly in clean energy projects. The new guidance allows businesses without sufficient tax liability to sell their clean energy credits to a third party, thereby simplifying the financing for clean energy projects. According to John Podesta, Senior Advisor to the President for Clean Energy Innovation and Implementation, the new provision in the IRA provides a decade of policy certainty for the…

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13 energy projects cleared amid poor bidding response

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power-sector

ISLAMABAD: The federal government has cleared for implementation 13 old renewable energy (RE) projects of about 700 megawatts — commonly called Category-III projects — and has referred the matter to the Council of Common Interests (CCI) for formal approval as bidding for a lot of 600MW solar project at Muzaffargarh recei­ved poor investor response. Informed sources said a special cabinet committee led by Defence Minister Khawaja Asif recommended that the sponsors of 13 proposed RE plants in solar and wind technologies in Cat-III whose tariffs had been approved by the…

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No ‘special discount’ on fuel purchase, says Russian minister

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musadik-malik

ISLAMABAD: Petroleum Minister Musadik Malik has said that despite the increased yield of furnace oil during the refining as well as high operational costs of the import, the Russian fuel would be significantly beneficial for Pakistan, even as a Russian minister ruled out any sort of exclusive discount for Islamabad on the purchase of ‘Urals’ crude from Moscow. “Oil deliveries to Pakistan have begun. There is no special discount; for Pakistan, it is the same as for other buyers,” Energy Minister Nikolai Shulginov told the Russian state media on Friday…

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PM reviews policy on alternative energy

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alternative-energy

LAHORE: Prime Minis­ter Shehbaz Sharif has reviewed the process to formulate a policy regarding the use of alternative energy sources, especially solar energy. Chairing a meeting on Saturday, he said the government had ensured the implementation of measures regarding alternative sources of energy, including solar energy, in the budget. He said the process of converting public buildings to solar power should be expedited. This would not only reduce the electricity cost but save precious foreign exchange, he said, adding that the policy on solar energy should be finalised as soon…

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