Day: January 10, 2024

CM adds another fleet of 80 buses in city, including 30 hybrid and 50 electric buses.

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Private-vehicles

KARACHI (Jan 10): Caretaker Sindh Chief Minister, Justice (retd) Maqbool Baqar, added another 80 buses to the Peoples Bus Service fleet in a simple ceremony, the new buses include 30 hybrid and 50 electric vehicles. With the addition of 80 new buses, the city’s fleet now comprises 300 buses, including 18 Pink Buses. This he said while speaking at the inauguration ceremony of adding a fleet of 80 buses, including 30 hybrid and 50 Electric buses in the Intra-city Peoples Bus Service at Mazar-e-Quiad. Those who were present on the…

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Nestlé inaugurates 2.6 megawatt solar power plant at its Sheikhupura Factory

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renewable-energy

Nestlé announced its commitment to reduce its emissions by 20% (versus a 2018 baseline) by 2025| Nestlé, as part of its PKR 2 billion investment in renewable energy in Pakistan, inaugurated a 2.6 megawatt solar power plant at its Sheikhupura Factory. The solar power plant, completed with an investment of PKR 500 million, aims to reduce 1,857 tCO2e of greenhouse gas emissions per year. The inauguration is part of Nestlé Pakistan’s PKR 2 billion investments into renewable energy, that include two biomass boilers and additional solar power plants at its…

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Pakistan asks UAE for $2bn deposit rollover

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state-bank

ISLAMABAD: Pakistan has been negotiating with the Kingdom of Saudi Arabia (KSA) for the provision of an additional $1 billion Saudi Oil Facility (SOF) on deferred payment for the ongoing calendar year 2024. Islamabad has also made a request to the United Arab Emirates (UAE) for the rollover of $2 billion deposits to avert depletion in foreign exchange reserves (FER) held by the State Bank of Pakistan just before the holding of the general elections on February 8. These two developments have come to the surface when the IMF Executive…

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Wind, solar projects: PPIB seeks details of LoIs issued by Punjab, Sindh

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wind-energy

ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has sought details of Letters of Intent (LoIs) of wind and solar projects issued by the gvernments of Punjab and Sindh, well-informed sources told Business Recorder. Managing Director, PPIB, Shah Jahan Mirza, in letters to Secretary Energy Department, Sindh and Secretary Energy Department, Punjab, has cited the reference to the Cabinet Committee on Energy (CCoE) decisions conveyed by Ministry of Energy (Power Division) on April 4, 2019, in which Alternative Renewable Energy (ARE) projects that had received LoIs before the RE Policy 2006…

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UEP’s gas: ECC to allow allocation to SSGCL

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SSGC

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is to allow allocation of United Energy Pakistan’s (UEP’s) 35 mmcfd gas to Mohar Field to Sui Southern Gas Company Limited (SSGCL), well-informed sources told Business Recorder. Mohar Field is located in Latif Block, district Khairpur, Sindh province and the field is being operated by United Energy Pakistan (UEP) Beta GmbH with working interest of 33.40% along with Pakistan Petroleum Limited (33.30%) and Prime Pakistan (M) Limited (33.30%). As per the provisions of Petroleum Policy and Petroleum Concession Agreement (PCA) signed between…

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