Day: January 9, 2024

“PEC’s Visionary Role in Transforming Pakistan’s Construction Industry”

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Global-Award

Islamabad, January 9, 2024 – Following the resounding success of the event held at the Pakistan Engineering Council (PEC) on January 8, 2024, PEC continues to showcase its efforts in revolutionizing the construction industry. The event, which garnered significant attention, served as a platform to share innovative approaches and strategies to meet international standards.Mr. Amir Ul Islam, CEO of New Jersey Precast, graced the session as a guest speaker, offering profound insights drawn from his four-decade-long journey in the construction industry. As a distinguished member of the PEC, Mr. Islam’s…

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EU Envoy advises business community to take full advantage of GSP Plus by diversifying exports

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Karachi-Chamber

KARACHI: Ambassador of European Union (EU) Raina Kionka has said that rather than staying confined to exporting textiles only, the business community of Karachi should broaden and diversify their exports to EU so as to take maximum advantage of EU’s GSP Plus for Pakistan which has recently been rolled over for four more years up to 2027.“GSP Plus is tremendously important for Pakistan’s economy whose overwhelming beneficiaries are not just textile producers but by trickledown effect, all those people as well who work in textile factories. GSP Plus has been…

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Wärtsilä Powers Up Pakistan’s Future: Strikes 12-Year Extension Deal with SNPC for Cutting-Edge Power Plants

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Wartsila-Powers

In a high-voltage move, Finnish tech powerhouse Wärtsilä has sealed the deal for a 12-year extension on its Operation & Maintenance (O&M) agreement with Sindh Nooriabad Power Company (SNPC), a game-changing independent power producer (IPP) in Pakistan. The pact covers the SNPC 1 and 2 power plants in Sindh, showcasing a leap forward in sustainable energy solutions. Fueled by innovation, these plants boast five Wärtsilä 34SG gas engines and a steam turbine generator for engine heat recovery, churning out an impressive 100 MW combined. The agility of the Wärtsilä 34SG…

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Taxation dispute delays refinery upgrade deals under new policy

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oil-refinery

KARACHI: The refining sector is struggling to finalize agreements with the government for upgrading their facilities to produce cleaner fuels under a new policy, as a dispute over taxation remains unresolved, sources told The News on Monday. As the deadline for the signing of agreements will expire on January 16, 2024, both sides have to resolve the issue of taxation escrow account. Under the policy, the release from the joint escrow account will be made on a pro rata basis, i.e. a maximum of 25 percent from the escrow account…

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Pakistan, Saudi Arabia eye Reko Diq deal at Riyadh mineral forum

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Reko-Diq

Saudi Arabia is seeking to attract SR63.7bn worth of investment in mining industry by 2030 to help country capitalize on its wealth of mineral resources ISLAMABAD: Pakistan and Saudi Arabia are expected to make progress on a potential investment deal in the Reko Diq copper and gold project during a three-day mineral forum that began on Tuesday in Riyadh, an energy ministry official said. A high-level Pakistani delegation led by caretaker Energy Minister Muhammad Ali is attending the Future Minerals Forum (FMF), a platform to promote mineral value chains in…

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