Month: July 2024

PM livid over negligence in construction of key hydel project

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Karot-Hydropower

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday formed a committee to reactivate the Neelum-Jhelum hydropower project, directing the relevant officials to com­plete investigation into its recent closure and identify those responsible for the defects in its design.While chairing a meeting at PM House during which a preliminary investigation report was presented, the prime minister expressed annoyance over the ‘criminal negligence’ committed in the past and ordered immediate completion of the probe and strict action against those found responsible for it.“Experts pointed out that there were defects in the design, concrete…

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Factors Affecting Solar Panel Prices: What You Need to Know

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solar-panel

Introduction Solar energy is emerging as a key player in the global renewable energy landscape, offering a sustainable solution to the world’s increasing energy demands. In Pakistan, the adoption of solar panels has seen a significant rise due to the country’s abundant sunlight and the increasing need for alternative energy sources. However, the cost of solar panels can vary widely, influenced by several factors. This blog will explore these factors, providing insights into what affects solar panel prices and how this impacts the Pakistani market. The Global Influence on Local…

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PSO Board Approves Up to $3M for Market Study

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pso

ISLAMABAD: In a significant move, the Pakistan State Oil (PSO) board has approved up to $3 million for a market study to evaluate the feasibility of a $10 billion green refinery or crude-to-petrochemical complex project. Pakistani authorities have already announced a new green refinery policy, offering substantial incentives such as a 7.5% deemed duty for 25 years and a 20-year tax holiday, aligning with Saudi Aramco’s preferences. However, Saudi Aramco has shifted its global investment focus away from refineries. Following extensive diplomatic negotiations, Saudi Aramco recommended including the Chinese firm…

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China Dominates Global Wind and Solar Plant Construction

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Solar-Wind

BEIJING: Nearly two-thirds of the world’s large wind and solar plants under construction are in China, significantly reducing coal’s share in power generation, according to a report by US-based think tank Global Energy Monitor (GEM) released on Thursday. China is building 339 gigawatts (GW) of utility-scale wind and solar, accounting for 64% of the global total, dwarfing the second-place United States, which has a project pipeline of 40 GW. This rapid development puts the global goal to triple renewable capacity by the end of 2030 well within reach, even without…

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Minister Criticizes FBR Amid Soaring Electricity Prices

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Power-Projects

ISLAMABAD: In the face of rising electricity prices and criticism over governance issues in the power sector, Power Minister Awais Ahmad Khan Leghari directed blame towards the Federal Board of Revenue (FBR) during a Senate Standing Committee on Power session on Friday. Addressing the committee, chaired by PTI Senator Mohsin Aziz, Leghari highlighted the FBR’s failure, which he claims has turned the power sector into a tax collection agency, burdening consumers with Rs8 per unit tax even before the recent tariff hike. He noted that electricity demand had dropped by…

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