Year: 2023

XWDiscos cause Rs292b loss to national exchequer during FY 2021-22

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The Ex-Wapda Discos (XWDiscos) have caused a loss of Rs292 billion during financial year 2021-22 to the national exchequer on account of T&D losses and less recoveries, as NEPRA has termed the performance of power distribution companies throughout FY 2021-22, saying that under the given circumstances, the existing Discos set up would not be able to deliver. In its performance evaluation report of the XWDiscos and Thermal Power Plants for FY 2021-22, released here by NEPRA, said that the number of fatalities both for employees and public occurred in all…

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Govt makes three financing models for e-bikes

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The government has reportedly prepared three different financing structures to provide E-Bikes to interested persons, to be finalized after final approval of Economic Coordination Committee (ECC) and Federal Cabinet, well informed sources told Business Recorder. A high level meeting presided over by Prime Minister has directed Ministry of Industries and Production to finalize the policy for local manufacturing of E-Bikes latest by March 1, 2023. M/o Industries & Production shall in consultation with Finance Division and Revenue Division decide the timeline for 100% production of E-Bikes and provision of allied services.…

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A loan agreement of Euro 120 million has been signed with France for the Khyal Khor 128 MW power project. News Jani

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France will provide a loan of 28.5 billion rupees (120 million euros) for the Khayal Khor hydropower project, a 128 MW facility located in the city of Patan in Khyber Pakhtunkhwa (KPK). A press release issued by the French Embassy said that a financial agreement was signed between the two governments in Islamabad on Monday. The agreement was signed by Secretary, Department of Economic Affairs (EAD) Dr. Kazim Naij, French Ambassador to Pakistan Nicolas Guille and Country Director of the French Development Agency (AFD) Philippe Steinmetz. The concessional loan from…

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Transfer of hydro powerhouses to provinces suggested

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A high level panel has recommended transfer of powerhouses of hydropower projects to respective provinces on IPP mode and issuance of bonds/ promissory notes to offset liabilities of Wapda, well informed sources told Business Recorder. The meeting was held last year in January but its minutes could not be issued as the then Deputy Chairman Planning Commission misplaced papers. Dr Jehanzeb Khan who is now SAMP on Governance Effectiveness claims that finally he has found the notes of the meeting after his departure from Planning Commission. He regretted delay in approval…

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Davos 2023: China reopens its doors with investment pitch to global elite

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Liu’s explicit pitch to global leaders gathered in Davos made it clear China wants international investors to play a key role in Beijing’s attempts to revive its slowing economy. “Foreign investments are welcome in China, and the door to China will only open up further,” Liu, a top economic tsar and confidant of President Xi Jinping, said. His speech to the World Economic Forum’s (WEF) annual meeting mentioned “strengthening international cooperation” and “maintaining world peace” 11 times. Liu made his speech as the release of new population data sounded an…

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