Month: June 2024

New terms with IPPs to help govt save Rs120 billion every year

Admin

ISLAMABAD: On payment of the first tranche of outstanding undisputed payables to IPPs in line with the revised contracts, revised terms have become effective, which will result in saving of at least Rs120 billion a year. These major revised terms include rupee based return instead of USD based maximum 17pc per annum in PKR fixed at Rs. 148 USD without any future USD linkage, besides reducing the rate of return for local and foreign investors to 12pc USD instead of 15pc USD. Sources in the Finance Ministry told this correspondent…

Read More

Sindh Government Announces Interest-Free Loans for Solar System Installations

Admin

The Sindh government has introduced an initiative to provide interest-free loans to the middle class for installing solar systems. Sindh Energy Minister Syed Nasir Hussain Shah announced this while addressing the media at his residence, where he also extended Eid greetings and urged people to remember the martyrs. During his address, Minister Shah acknowledged the region’s various issues and highlighted the government’s efforts to alleviate these problems through the budget. He emphasized that ongoing schemes have been prioritized and assured that promises made to the public will be fulfilled. Additionally,…

Read More

Solar panel world record achieved with ‘miracle material’

Admin

Solar panel world record achieved with ‘miracle material’ June 19, 2024 A new efficiency world record for converting sunlight into electricity has been set, in what researchers claim is a huge boost for renewable energy. Researchers at Longi, the world’s biggest solar panel manufacturer, achieved a 34.6 per cent power conversion efficiency using a tandem perovskite-silicon solar cell, beating the previous record by 0.7 per cent. The new record is also more than 7 per cent more efficient than the record for a standard silicon solar cell, which is found in most commercial solar…

Read More

FEDERAL BUDGET ANOMALIESGovt urged to revisit numerous budgetary measures

Admin
KCCI-Import

KARACHI: The Karachi Chamber of Commerce & Industry (KCCI), while identifying several anomalies in the Federal Budget 2024, highlighted that the Budget appears to have been prepared in the standard template of IMF, disappointing both the business community and working classes of Pakistan. Obviously, the limited fiscal space and debt obligations left little room for the Finance Ministry and FBR to come up with significant relief for trade and industry in particular and public in general.It is of deep concern for trade and industry based in Karachi that a major…

Read More

Murad Ali Shah Chairs Meeting Between STDC and Gul Ahmed Group

Admin
New-Project

Karachi– Sindh Chief Minister Syed Murad Ali Shah chaired a crucial meeting between Sindh Transmission and Dispatch Company (STDC) and the private partner Gul Ahmed Group. Gul Ahmed is setting up a 100 MW power plant in Jhimpir. STDC will lay a 60-kilometer transmission line from Jhimpir to the Landhi Industrial Area. Provincial Energy Minister Nasir Shah emphasized the significance of this public-private partnership, stating, “This will revolutionize industrial development by delivering electricity from Jhimpir to the industrial area.” The Chief Minister reflected on the formation of STDC, noting that…

Read More