Day: February 10, 2024

“SIFC Urges Accelerated Progress on Wind Energy Projects to Foster Renewable Growth”

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solar-panel

The Executive Committee of the Special Investment Facilitation Council (SIFC) has issued directives to the Private Power and Infrastructure Board (PPIB) to expedite the competitive bidding process for 300 MW of category-III wind projects within a week. This move comes as part of efforts to enhance Pakistan’s renewable energy sector and reduce dependency on imported fuels. While category-III solar projects are deferred pending the finalization of the Indicative Generation Capacity Expansion Plan (IGCEP) and Transmission System Expansion Plan (TSEP), the focus remains on advancing wind energy initiatives. The decision follows…

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“Overhaul of Electricity Act Sought by Government to Modernize Power Sector”

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power-sector

The caretaker government in Pakistan has issued directives to the Power Division to amend the outdated National Electricity Act of 1910 in order to align with the evolving dynamics of the power sector. The aim is to facilitate the introduction of a competitive electricity market, primarily through the implementation of wheeling charges, to enable private consumers to directly access electricity from power producers. Despite successive governments’ efforts to implement the Competitive Trading Bilateral Contracts Market (CTBCM), progress has been sluggish. This market model aims to combat issues such as rampant…

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“Barclays Ceases Direct Financing for New Oil and Gas Projects Amid Climate Strategy Overhaul”

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Barclays-Ceases

In a significant move reflecting its commitment to addressing climate change, British bank Barclays announced on Friday that it would no longer provide direct financing for new oil and gas projects. However, despite this shift, the bank faced criticism from campaigners who argued that the measures did not go far enough. As part of its updated climate strategy, Barclays stated that it would also scale back lending for existing fossil fuel projects, aligning itself with increasing pressure from activist investors to take decisive action on climate change. The bank’s revised…

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“Global Concerns Mount Over Pakistan’s Election Integrity Amidst Allegations of Irregularities”

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Elections-2024

The international community has raised concerns over the integrity of Pakistan’s recent elections, with prominent figures and organizations expressing apprehensions about alleged irregularities and restrictions that marred the electoral process. UN Secretary-General Antonio Guterres expressed worry over the suspension of mobile communications services and instances of violence during the election day in Pakistan. While urging political leaders and society segments to maintain calm and refrain from violence, the UN spokesperson emphasized the importance of upholding human rights and the rule of law, calling for any disputes to be resolved through…

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“US State Department Expresses Concern Over Allegations of Election Interference in Pakistan”

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Department-Expresses

The US State Department has voiced its apprehension regarding allegations of interference in Pakistan’s electoral process. In a statement issued by spokesperson Matthew Miller, the US has aligned itself with international and local election observers, highlighting concerns about undue restrictions on freedoms of expression, association, and peaceful assembly during the recent elections. The statement unequivocally condemns electoral violence and the curtailment of fundamental freedoms, including attacks on media personnel, as well as limitations on access to communication services and the internet. It stresses the imperative of conducting thorough investigations into…

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