Month: January 2024

Economy stable, but challenges persist: IMF

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IMF-demand

WASHINGTON: The IMF Executive Board’s decision to disburse around $700 million to Pakistan reflects a positive review of the country’s economic reform programme. While economic activity has stabilised, challenges persist, contingent on the effective implementation of sound policies. Macroeconomic conditions have shown improvement, with a projected two per cent growth in FY24. The fiscal position strengthened in 1QFY24, achieving a primary surplus of 0.4pc of GDP, driven by strong revenues. Inflation, although elevated, is expected to decline with appropriately tight monetary policy to 18.5pc by end-June 2024. Gross reserves of…

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Pak-China EV organized training session for sustainable energy practices

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china-pak

A joint venture company Pak China Huazi Green Energy (Private), organized an Electric Vehicle (EV) training session here with the cooperation of National Skills University (NSU). Talking to media, Khalid Mahmood, CEO of Huazi Green Energy said the two-day EV Repair and Maintenance Introductory Course this week, showcased the collaborative efforts between NSU and Pak-China Huazi Green Energy Pvt Ltd. The course, led by esteemed Chinese technologists, marked a significant stride towards fostering sustainable energy practices and knowledge exchange in electric vehicles. The event, witnessed a convergence of industry experts,…

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PSA urged to set up dedicated complaint cell to deal with grey channel clean energy products

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renewal-energy

The concerned distributors of renewable energy equipment in the country have urged the Pakistan Solar Association (PSA) to establish a dedicated complaint cell to take up the issues faced by the end-users in the country due to unchecked import of unauthorised solar power equipment through the grey channel.“The bona fide distributors and EPC contractors in the Pakistani market who have the firm belief in serving their customers with complete honesty, integrity, dedication, and professionalism are seriously affected due to constant import and availability of grey channel products in the country,”…

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OGDCL, PPL, POL win four exploration blocks

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OGDCL-1

KARACHI: The ministry of Energy has provisionally awarded four new oil and gas exploration blocks to three local companies, according to a stock exchange filing by one of the winners on Thursday. Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Pakistan Oilfields Limited (POL) won the blocks in a competitive bidding round held by the government in November 2023, the filing by OGDCL said. The blocks are located in Balochistan and Sindh, and cover a total area of about 4,000 square kilometers, the filing added. “OGDCL…

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Nepra approves 2pc transmission losses for STDC

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Nepra-KE-1

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved 2.0 percent transmission line losses to Sindh Transmission and Despatch Company (STDC) from its Commercial Operation Date (COD), i.e, January 18, 2018 after Sindh government made hue and cry over the delay in the decision. The NEPRA awarded the Transmission License to STDC on December 17, 2015 under Section 19 of the NEPRA Act, 1997 to establish its 132 KV double circuit having length of 96.5 KM Transmission Line comprising Aluminum Conductor Steel Reinforced (ACSR) Rail conductor to evacuate electric…

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