Month: January 2024

Power, gas: business leader voices concerns over circular debts

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mian-Zahid

KARACHI: Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, Mian Zahid Hussain said that it is astounding that the circular debt of the power and gas sectors has reached almost Rs6 trillion. It also indicates that the strategy of reducing the amount of circular debt by increasing tariffs has yet to be successful, and the IMF may seek clarification about it as the figures differs from what the lender was told. He said that even though electricity and gas prices keep…

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Oil extends losses as economic headwinds weigh on demand outlook

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Oil-prices

SINGAPORE: Oil prices fell for a second day on Monday as economic headwinds pressured the global oil demand outlook and outweighed geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend. Brent crude fell 41 cents, or 0.5%, to $78.15 a barrel by 0105 GMT after settling down 54 cents on Friday. The front-month US West Texas Intermediate crude futures, for February delivery, inched down 2 cents to $73.39 a barrel with the contract set to expire later on Monday. The more…

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Transmission sector reforms and load-shedding

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power-breakdowns

Power production will remain sub-optimal due to low forex reserves along with outages LAHORE: Electricity load-shedding is back in the last couple of weeks. Urban areas are observing around four to five hours of load-shedding, while the situation is worse in rural areas. The demand for electricity is around 14,500 megawatts while the system is generating around 10,000MW of electricity. The huge shortfall in generation is witnessed despite very high dependable capacity and low economic growth. There is nothing special about the current demand for electricity since economic activities have…

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Turkish Company will set up solar panelsmanufacturing plant in Pakistan CG Turkiye

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New-Project

KARACHI: Consul General of Turkiye Cemal Sangu has said although Turkiye and Pakistan have been cooperating in many fields of trade and economy but the existing trade volume was very low which requires very hard work from the business communities of both countries.“We say we are brotherly but it doesn’t reflect in our trade. Keeping in view Pakistan’s and Turkiye’s population of 240 million and 85 million respectively, I can confidently say we have huge potential and opportunities not only in Pakistan but also in Turkiye, hence, the private sector,…

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1MW solar power plant installed in Hunza for uninterrupted power supply

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111-222

Plant aims to meet energy deficit in the region, ensure uninterrupted supply of electricity to localsThe Special Investment Facilitation Council (SIFC) of the government, in partnership with solar firm Energy NPAK has installed a one-megawatt solar power plant in Hunza district of Gilgit-Baltistan. The solar plant aims to meet the energy deficit in the region and ensure uninterrupted supply of electricity to the people living in these valleys.This public-private partnership project will play an active role in generating clean energy as well as mitigating global climate change.More than 2,300 solar…

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