Month: January 2024

600MW wind, solar projects: PFREF moves army chief

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solar-panel

ISLAMABAD: Pakistan Foreign Renewable Energy Forum (PFREF) has approached Army Chief General Syed Asim Munir for resolution of long pending issue of 13 wind and solar projects of 600 MWp with an investment of $ 600 million. In a letter to the COAS, President of (PFREF), Mustafa Abdulla has praised Gen Asim for his untiring efforts to remove bureaucratic hurdles to bring Pakistan back to new heights economically and financially. The Executive Committee (EC) of the Special Investment Facilitation Council (SIFC) has constituted an inter-ministerial panel to holistically review the…

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Prospects of KE shares transfer to new buyers ‘unclear’

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k-electric

ISLAMABAD: The prospects of transfer of shares of K-Electric (KE) to new buyers are reportedly unclear as the federal government has directed its legal team to maintain status quo in Sindh High Court (SHC). Background interviews with circles aware of developments in the matter revealed that the legal team recently informed the government that they have succeeded in maintaining status quo in SHC as per the directions. A committee comprising caretaker Minister for Power, caretaker Minister for Privatisation and caretaker Minister for Law and Justice was constituted on 9th October…

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Ministries violate cabinet directive

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Power-generation

Release Rs131b to state-owned power companies without recovering dues ISLAMABAD: The interim government has violated a decision of the federal cabinet, failing to recover approximately Rs95 billion from publicly-owned power sector companies. Instead, it released Rs131 billion without first deducting its receivables. This failure by two ministries to implement the cabinet’s decision has resulted in a higher level of budget deficit for the first half of the fiscal year. Recovering loans and cash dividends could have helped maintain a marginally lower overall budget deficit. Sources revealed to The Express Tribune…

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“Global Optimism Trends Revealed: Gallup International’s Year-End Survey Highlights Pakistan’s Resilient Outlook”

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Global-Optimism

Karachi – The latest findings from the renowned Gallup International Association’s annual End of Year Survey have unveiled intriguing insights into global sentiments, with Pakistan emerging as a noteworthy focal point. In a tradition spanning over four decades since 1978, the survey, conducted across 42 countries with a robust sample size of 40,428 respondents, aimed to capture the pulse of the public as the world bid farewell to another year. Optimism Trumps Pessimism in Pakistan:Despite grappling with various challenges, the survey paints a picture of resilience in Pakistan, with a…

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Nepra okays second tariff hike for Karachiites

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Nepra-tariff

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday approved a second increase in power tariff within a week for the consumers of K-Electric. The regulator, on a request by the Karachi-based power utility, gave the approval of Rs2.87 per unit hike, which comes as part of a quarterly tariff adjustment (QTA) from January to March 2023. The decision has been forwarded to the federal government for notification. This is the second time Nepra has hiked power tariff under the quarterly adjustment, the first one at the request of…

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