Day: May 14, 2024

Influential super-rich Pakistanis own properties worth $11 billion in Dubai, reveals a damning global probe report

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Pakistanis rank second among foreign nationals owning billions of dollars in Dubai, as revealed in an investigative report on offshore asset ownership by influential individuals worldwide.The groundbreaking report by the Organized Crime and Corruption Reporting Project (OCCRP) exposes that influential Pakistanis possess properties in Dubai valued at a staggering $11 billion. The affluent Pakistanis who own luxurious properties in Dubai include prominent politicians, senior retired servicemen, bankers, and technocrats. The detailed OCCRP probe report discloses that foreigners hold assets in Dubai’s property market totaling $400 billion. Indians hold the top…

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KE SPEARHEADING UTILITY SCALE RENEWABLE ENERGY IN PAKISTAN

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Ambitious 640MW combined solar PV projects plannedKarachi, May 4, 2024 – K-Electric (KE) has taken a significant leap in inducting a sustainable energy future. At a recent roadshow event the power utility showcased its ambitious solar PV based power projects that will establish 640 MW of renewable energy across its service territory, aligning with its vision of achieving a 30% share of renewable energy generation in its fuel mix by 2030. Over 100 local and international institutions were given an overview on KE’s plans to add 150 MW and 270MW…

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Imran Khan Threatens Nationwide Protests Over Rising Power and Gas Tariffs

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Power-Gas

Imran Khan, the incarcerated founding chairman of PTI and former prime minister, issued a stern warning to the government, stating that countrywide protests would erupt if power and gas tariffs were further increased. Speaking from Adiala jail, Khan emphasized the need for a government aligned with public mandate to stabilize Pakistan’s economy. He expressed concerns that additional taxation could worsen economic stability, particularly during June and July. Khan highlighted the challenge of debt servicing consuming a significant portion of tax revenue, leading to investor reluctance. He also addressed corruption cases,…

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Chairman WAPDA Urges Accelerated Progress at Mohmand Dam Project

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Mohmand-Dam

Chairman of the Water and Power Development Authority (WAPDA), Engr Lt Gen Sajjad Ghani (Retd), recently visited the Mohmand Dam Project to assess construction advancements. During his inspection of key sites including diversion tunnels, the power house, and the spillway, he underscored the project’s vital role in meeting Pakistan’s water and energy demands. Accompanied by project officials, consultants, and contractors, the Chairman received updates on ongoing tasks and timelines. Following this, in a meeting at the project office, he directed the contractors to adhere strictly to the execution plan to…

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OGRA Urges Oil Companies to Increase Diesel Uplift to Meet Rising Demand

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oil-and-gas

Amidst heightened demand during the harvesting season, the Oil & Gas Regulatory Authority (OGRA) has directed oil marketing companies (OMCs) to ramp up their uptake of high-speed diesel (HSD) from refineries. This move aims to ensure a smooth supply chain and cater to the surging demand for diesel across Pakistan. OGRA’s directives come in response to reports indicating a relatively low uplift of HSD despite recent actions against Iranian diesel smuggling. In its communication to OMCs, OGRA emphasized the critical need for efficient operations and coordination within the National Oil…

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