Month: June 2024

Neelum Jhelum Hydropower Project to Remain Closed for Additional Two Years

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Neelum-Jhelum

The Neelum Jhelum Hydropower Project (NJHPP), with a capacity of 969 MW, has been completely shut down for over two months. Despite this, the root cause of the problem has not yet been identified. According to a report by Dawn newspaper, officials familiar with the situation have stated that the issue appears to be more significant than initially anticipated. The 500 billion PKR project, located near Muzaffarabad in Azad Kashmir, might remain closed for another 18 to 24 months. They indicated that the decrease in the Head Race Tunnel (HRT)…

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STDC to Sign Agreements with Companies for Transmission of 600 MW Power from Private Sector

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Nasir-Hussain

Karachi: Sindh Energy Minister Syed Nasir Hussain Shah chaired a meeting of the Sindh Transmission and Dispatch Company (STDC) board at the Energy Department’s committee room. The meeting ratified the decisions of the previous session and introduced several new significant resolutions. During the meeting, it was decided that an MoU would be approved with Go Energy Private Limited, which aims to establish a 500 MW floating solar power project at Keenjhar Lake. This project intends to connect with the K-Electric grid at Dhabeji Grid Station via STDC’s transmission line. Furthermore,…

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KCCI appreciates Govt for giving ‘industry status’ to warehouses & logistics

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KCCI-Import

KARACHI: President Karachi Chamber of Commerce and Industry Iftikhar Ahmed Sheikh has appreciated the government for announcing the much-awaited status of Industry to warehouses and logistics which was widely being demanded by the business and industrial community.In a statement issued, President KCCI said that the status of industry for warehouses and logistics was an outcome of a series of meetings from time to time particularly the recent meeting held in Islamabad between Prime Minister Shehbaz Sharif and Founder Chairman Warehousing & Logistics Association Haroon Farooki who struggled really hard and…

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Financial facilitation will augment Pak China business activities, NBP President Hasnie

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National-Bank

National Bank of Pakistan (NBP) President, Mr. Rehmat Ali Hasnie, participated in the Pakistan China Business Conference held in Shenzhen, China. Mr. Hasnie was among the delegation accompanying Prime Minister Shehbaz Sharif who on Tuesday landed in China’s Shenzhen on his official visit to the country, as Islamabad aims to advance bilateral trade and economic ties with Beijing and attract Chinese investors via business-to-business (B2B) projects. The conference provided a platform for fostering economic ties between Pakistan and China. Mr. Hasnie met with key officials, including Mr. SHI Weigan, Director-General…

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Fuel Prices Likely to Drop by Rs12 Amid Declining Global Oil Rates

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oil and gas

ISLAMABAD: The government is expected to announce a further reduction in the prices of petroleum products by Rs12 per litre from June 15, following a declining trend in global oil rates. At the beginning of this month, the government already reduced the prices of petrol and high-speed diesel (HSD) by Rs4.74 and Rs3.84 per litre, respectively. Consequently, the price of petrol is now Rs268.36 per litre, down from its previous rate of Rs273.10. Similarly, HSD is available at Rs270.22 per litre, reduced from Rs274.08. In addition, the prices of kerosene…

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