Month: January 2024

Army Chief’s direction intervention sought for removal of bureaucratic hurdles in way of new wind, solar projects involving $600M foreign investment

Admin
solar-wind

The prospective foreign investors keen for the past couple of years to build new wind and solar power projects in the country have sought direct intervention from the Chief of Army Staff for immediate removal of bureaucratic hurdles in the way of phenomenally increasing the clean energy generation capacity of Pakistan.The Pakistan Foreign Renewable Energy Investors Forum (PFREF) has urged the Army Chief to intervene in this matter to ensure that there shouldn’t be any bureaucratic hurdle at the level of the Special Investment Facilitation Council (SFIC) for approving the…

Read More

January 2023 power breakdown: Probe finds country’s power transmission system running without SOPs

Admin
Power-generation

ISLAMABAD: The electric power transmission system that transmits electricity of Rs3,000 billion a year is found ‘highly vulnerable’ as it is run without the standard operating procedures (SOPs), reveals the investigation just completed into the worst-ever 20 hours power breakdown that struck the country a year before on January 23, 2023. The probe into the causes of the unprecedented power breakdown revealed that the transmission system is being run on verbal instructions, not on SOPs. But, the inquiry committee has interestingly saved the necks of top notches in the system…

Read More

World economy will slow further off its pre-Covid pace in 2024, UN projects

Admin
World-economy

ISLAMABAD: The United Nations (UN) issued a somber global economic forecast for 2024, pointing to challenges from escalating conflicts, sluggish global trade, persistently high interest rates and increasing climate disasters. In its flagship economic report, the UN projected that global economic growth would slow to 2.4% this year from an estimated 2.7% in 2023, which exceeds expectations. But both are still below the 3% growth rate before the Covid-19 pandemic began in 2020, it said. The UN forecast is lower than those of the International Monetary Fund in October and…

Read More

Draft LPG policy aimed at boosting local production finalised

Admin
lpg

ISLAMABAD: Ministry of Energy (Petroleum Division) has finalised draft of Liquefied Petroleum Gas (LPG) Policy 2024, envisaging substantial fiscal incentives to promote domestic LPG production, its import and marketing. According to the summary of draft policy 2024 to be presented to the Council of Common Interests (CCI) for consideration, all LPG producers will dedicate up to 10% of their production to Suis for LPG Air-Mix Plants(s) developed and operated by Suis and 5% to Marketing Companies (MCs) for supplies in AJK and GB. Remaining production will be marketed through their…

Read More

Solar PV panels: FBR accused of compelling importers to quote higher rates

Admin
solar-panel

Solar power initiative: PD asked to coordinate with SkyPower December 19, 2023 ISLAMABAD: Pakistan Alternative Energy Association (PAEA) has accused Federal Board of Revenue (FBR) of compelling commercial importers of solar PV panels of quoting higher rates, despite the fact that prices have substantially declined. In a letter to Chairman Federal Board of Revenue, Executive Director PAEA, Tariq Khattak has stated that since the given guideline on unit prices of $ 0.14/W and 0.16/W are way beyond the present international export prices of crystalline PERC HC/N Type/N Type Bifacial Solar…

Read More