Year: 2023

SolaX Signed a 100MW Strategic Cooperation Agreement with Fronus

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On Nov. 29, 2022, SolaX signed a 100MW strategic cooperation agreement with Fronus Solar Energy, a leading renewable energy company in Pakistan, to provide advanced inverter solutions in the Pakistan market in the following year. In addition, SolaX and BTA Technologies inked a partnership agreement, under which BTA Technologies would eventually take over the duties of SolaX’s Pakistani after-sales service center. This cooperation is another vital step for SolaX in promoting localization in Pakistan, which will give local clients more timely and targeted after-sales service. Fronus Solar Energy is a…

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Solar Power Day PML(N) Senator assures early resolution of LC issue to help solar companies in Pakistan

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Pakistan Muslim League-Nawaz (PML-N) Senator Capt. Shaheen Khalid Butt hoped that Letters of Credit (LCs) for imports will be opened soon, which will help facilitate the solar energy sector in the country. “The clean energy is absolutely vital not just for the environment but because it’s cost effective for the consumers. In this context, I talked to Prime Minister Shehbaz Sharif and Finance Minister Ishaq Dar, and they expressed the hope that the government would soon be able to open LCs for imports as soon as economy’s stabilization is ensured,”…

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Karachi’s business community comes down hard on SBP governor

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At least half a dozen members of Karachi’s business community severely criticised the role of the State Bank of Pakistan (SBP) in the ongoing crisis with regards to difficulty in opening letters of credit (LCs). “At least tell the banks to open LCs for wheat and pulses so that people have something to eat,” one businessman pleaded to Jameel Ahmad, the SBP governor who paid a visit to the Karachi Chamber of Commerce and Industry on Wednesday. Earlier in the day, the SBP governor had also visited the Federation of…

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The Private Power Infrastructure Board (PPIB) has approved the name of law firm M/s Howard Kennedy for representing the government of Pakistan in LCIA Arbitration in M/s Star Hydropower Limited (SHPL) case

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The fee of law firm will be £230,000 whereas fee of barrister will be finalized by the Attorney General Office, the sources added. Recently, MD PPIB, Shah Jahan Mirza apprised the Board that Star Hydro Power Limited (SHPL) and NTDC entered into dispute over delay in installation of Power Purchaser Inter-Connection Facility by NTDC. Both parties filed counter arbitral claims against each other before LCIA, wherein NTDC’s claim was dismissed and it was found in breach of terms of PPA in making payment of liquidated damages. Thereafter, SHPL filed case…

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Gas shortage, ban on new connections to stay for years, Senate told

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Speaking during the question hour, Minister of State for Petroleum Musadik Malik told the house that two new policies aimed at overcoming the problem of gas shortage were almost ready and would be unveiled in a couple of weeks. He said one of these was about reopening the closed wellheads while the other was related to exploration of tight gas. He, however, made it clear that the results would start accruing in three to four years due to the time-consuming exploration process. He said it would be unwise to give…

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