Month: August 2024

Power Sector Urges Implementation of 2020 IPP Report’s Recommendations

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Power-sector

LAHORE: Experts in Pakistan’s power sector are calling for urgent transparency and accountability by enforcing the recommendations of the 2020 Report on Independent Power Producers (IPPs). This report, released in March 2020, exposed significant irregularities, including excess payments of over Rs 100 billion to IPPs. Despite recommendations for a forensic audit and recovery of these excess payments, no substantial actions have been taken. The 288-page report, prepared by the committee for power sector audit, circular debt resolution, and future roadmap, outlined severe issues plaguing the sector, but its recommendations remain…

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Solis Tops Global Rankings in Residential PV String Inverters

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Solis-Tops

LAHORE: Solis (Ginlong Technologies), a leading name in solar inverter technology, has achieved the #1 ranking in global residential inverter shipments, according to the latest market share report by Wood Mackenzie. This marks a significant milestone for Solis, which previously held the position of the world’s third-largest PV inverter manufacturer across all segments for three consecutive years. This achievement underscores Solis’ dedication to innovation, quality, and customer satisfaction. The company’s rise to the top of the residential inverter market reflects its strategic focus on developing high-performance and reliable inverter solutions…

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WAPDA House Celebrates Independence Day with Flag Hoisting Ceremony

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WAPDA-House

LAHORE: To mark Pakistan’s Independence Day with patriotic zeal, a flag hoisting ceremony was held at WAPDA House in Lahore. The ceremony was led by WAPDA Member (Finance) Naveed Asghar Chaudhry and Member (Power) Jamil Akhtar, who together raised the National Flag at the WAPDA Auditorium. The event commenced with the students from WAPDA Girls Higher Secondary School Chashma, who had traveled to Lahore specifically for the occasion, singing the National Anthem. The students also captivated the audience with stirring performances of milli naghmas. The ceremony saw a large turnout…

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Circular Debt: A Major Threat to Pakistan’s Economic Stability, Warns Mazhar Ali Nasir

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Mazhar-Ali

KARACHI : Syed Mazhar Ali Nasir, a central leader of the United Business Group and former Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has raised serious concerns about Pakistan’s growing circular debt, labeling it as one of the most pressing challenges facing the economy. Speaking on the occasion of Pakistan’s Independence Day, Nasir highlighted that the circular debt has ballooned from PKR 400 billion in 2012 to a staggering PKR 2.5 trillion in 2024—a six-fold increase that is crippling the nation’s financial stability.…

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PM Shehbaz Vows Major Reduction in Power Tariffs

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Shahbaz-Sharif

Urges Youth to Focus on Skills, Warns Against Anti-State Activities ISLAMABAD: In a message marking Pakistan’s 78th Independence Day, Prime Minister Shehbaz Sharif announced plans for a significant reduction in electricity tariffs, aiming to alleviate the financial burden on citizens and boost the nation’s industry, agriculture, and exports. Addressing a ceremony in Islamabad, PM Shehbaz acknowledged that rising electricity bills have become a pressing concern and assured the nation that the government is working tirelessly to address the issue. He promised that the public would soon receive good news regarding…

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