Month: April 2024

EXCLUSIVE: Assessing the Iran-Pakistan gas pipeline: A solution to Pakistan’s energy crisis?

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iran-gas-pipeline

EXCLUSIVE: Assessing the Iran-Pakistan gas pipeline: A solution to Pakistan’s energy crisis? April 22, 2024 Officials weigh the impact of the Iran-Pakistan gas pipeline on national energy security amidst mounting US pressure to abandon the plan The rooftop of Vaqar Zakaria’s home in Islamabad is strewn with photovoltaic panels that he says have lowered his electricity bill to virtually nothing. This is countered by the stark contrast in his rising gas costs. “From a steady PKR 800 [USD 2.87] a month, it has risen to PKR 4,000 [$14.38] in the…

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Seven countries generate 100% of their electricity from renewable energy

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solar-panel

Albania, Bhutan, Nepal, Paraguay, Iceland, Ethiopia, and the Democratic Republic of Congo have each generated over 99.7% of their electricity from renewables Seven countries currently generate almost all of their electricity from renewable energy sources, according to newly compiled figures. Albania, Bhutan, Nepal, Paraguay, Iceland, Ethiopia, and the Democratic Republic of Congo have each generated over 99.7% of their consumed electricity through geothermal, hydro, solar, or wind power sources, reports the Independent. According to data from the International Energy Agency (IEA) and International Renewable Energy Agency (IRENA), an additional 40…

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10-year solar panel manufacturing policy finalised

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solar-panel

ISLAMABAD: The federal government has finalised a draft of 10 years ‘Solar Panel Local Manufacturing and Allied Equipment’ policy envisaging incentives to the manufactures, including imposition of tariff on import of finished goods for the period to promote localisation, well-informed sources told Business Recorder. Sharing the details, sources said, the Special Investment Facilitation Council (SIFC) in its 5th Apex Committee meeting held on 8th-9th September 2023 directed to formulate “Solar Panel Local Manufacturing Policy” through consultations in Working Group (WG) meetings. In this regard, several meetings of WG on “Solar Panel…

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Payments issue with CPPA-G: Shanghai Electric lodges complaint with PM

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Shanghai-Electric

ISLAMABAD: Chinese power firm Shanghai Electric has reportedly lodged a complaint against Central Power Purchasing Agency-Guaranteed (CPPA-G) to the Prime Minister for not making payments on time, well-informed sources told Business Recorder. Sharing the details, sources said M/s Thar Coal Block-1 Power Generation Company Pvt Ltd has informed Special Investment Facilitation Council (SIFC) that the company has achieved Commercial Operation Date (COD) on February 5, 2023, however it is facing severe cash flow issues due to inefficient payments from CPPA-G. “Since we have achieved COD on February5, 2023, we are facing…

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Pakistan aims to agree outline of new IMF loan in May, finance minister says

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Pakistan hopes to agree the contours of a new International Monetary Fund (IMF) loan in May, Finance Minister Muhammad Aurangzeb told Reuters, and has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets. Pakistan’s current $3 billion arrangement with the Fund runs out in late April and the government is seeking a longer and bigger loan to help bring permanence to macroeconomic stability as well as an umbrella under which the country can execute much needed structural reforms, the minister said. “We expect the IMF…

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