Day: February 12, 2024

Dawood Lawrencepur to sell entire stake in Tenaga Generasi to Artistic Milliners

Admin
wind-power

The Board of Directors (BoD) of Dawood Lawrencepur Limited (DLL) has entered into a Share Purchase Agreement (SPA) with Artistic Milliners (Pvt) Ltd for the sale of its entire shareholding in Tenaga Generasi Limited (TGL). The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “The BoD of DLL has approved entering into SPA with Artistic Milliners (Pvt) Ltd for the sale of the entire shareholding of the company in TGL, comprising of 227,027,613 shares i.e. 75% of the outstanding paid-up capital of…

Read More

The SIFC has a new plan to tackle circular debt. Will it work? 

Admin
Special-Investment

The Council is looking to woo the IMF with a unique new solution they are proposing Since its inception, the Special Investment Facilitation Council (SIFC) has looked to expand itself and take over the reins of the economic underpinnings of the country with limited success. The military and bureaucracy based chimera has looked to stimulate the economy while looking to bring in investment from foreign countries. And now the council is trying to take on one of Pakistan’s most persistent issues: circular debt.  As talks begin between the IMF and…

Read More

K-Electric and Hub Power Company Sign Agreement to Explore Thar Coal Power Conversion

Admin
circular-debt-K-electric-ceo

In a significant move towards sustainable energy solutions, K-Electric (KE) and Hub Power Company Ltd have recently inked a memorandum of understanding (MoU) to delve into the potential for adopting affordable electricity through the conversion of the Hub plant to locally sourced Thar coal. Aligned with KE’s strategic vision to integrate power generation from domestic resources into its energy portfolio, this collaboration signifies a pivotal step towards leveraging Thar coal-based projects for power generation. The Hub power station, boasting a capacity of 1,292MW with four units of 323MW each, has…

Read More

Activists Claim 49,600 Trees Felled for Ballots

Admin
Activists-Claim

In a contentious debate surrounding the environmental impact of recent general elections in Pakistan, activists advocating for environmental preservation have alleged that a staggering 49,600 trees were cut down to produce paper for ballots and related documents. However, experts have rebuffed these claims, citing the country’s reliance on paper imports and recycling practices for electoral materials. Contrary to assertions of extensive tree felling, experts clarify that Pakistan primarily imports paper, as the nation lacks the infrastructure for large-scale paper production. Dr. Usman Ali, an environmental expert, underscores the necessity of…

Read More

Cabinet Committee Seeks Legal Opinion on Transfer of OGDCL Shares Held by Privatisation Commission

Admin
ogdcl

The Cabinet Committee on Privatisation (CCoP) has initiated steps to seek legal counsel regarding the proposed transfer of Oil & Gas Development Co. Ltd. (OGDCL) shares currently held by the Privatisation Commission (PC). This move comes as part of a broader strategy to determine the appropriate recipient for these shares, whether the Petroleum Division or the Sovereign Wealth Fund (SWF). The decision to seek legal opinion was made during a recent CCoP meeting chaired by caretaker Minister for Privatisation, Fawad Hasan Fawad. The proposal, initially put forward by the Petroleum…

Read More