Day: September 3, 2024

28 Companies Honored at Solar Technology Excellence Awards 2024 in Lahore

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Solar-Award

Lahore – The Solar Technology Excellence Awards 2024, a prestigious event celebrating innovation and leadership in the solar energy sector, was held at a local hotel in Lahore. The ceremony, organized by Energy Update in partnership with the Ministry of Energy (Power Division), Private Power Infrastructure Board (PPIB), and Pakistan Solar Association, recognized 28 companies for their outstanding contributions to the advancement of solar energy in Pakistan. The event was graced by Khyber Pakhtunkhwa Governor Faisal Karim Kundi, who served as the Chief Guest. In his address, Governor Kundi highlighted…

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Imran Maniar Resigns as CEO and MD of Sui Southern Gas Company

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SSGC

KARACHI: Imran Maniar has resigned from his position as Chief Executive Officer (CEO) and Managing Director (MD) of Sui Southern Gas Company Limited (SSGC) to pursue other opportunities, as stated in a notice issued by SSGC to the Pakistan Stock Exchange (PSX) on Tuesday. In an emergent board meeting held on September 2, 2024, SSGC’s Board of Directors accepted Maniar’s resignation, expressing deep respect for his decision and gratitude for his contributions to the company. His last day with SSGC will be September 13, 2024. Maniar, an accomplished professional with…

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Dar Rejects Gas Allocation Proposals, Orders Revised Framework

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Oil-and-Gas

ISLAMABAD: Ishaq Dar, Chairman of the high-level committee on oil and gas, has rejected the Petroleum Division‘s proposed framework for allocating discovered gas to third parties. Emphasizing that the government will not alter a policy already approved by the Council of Common Interests (CCI), Dar instructed the Petroleum Division to submit a revised draft within 15 days. The Petroleum Division had presented four proposals, including applying the allocation policy to depleting fields, excluding existing fields, implementing the policy for new discoveries, and gradually increasing the allocation to third parties to…

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IMF Pressures Punjab to Withdraw Electricity Subsidy by September 30th

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electricity-tariffs

ISLAMABAD: The International Monetary Fund (IMF) has imposed stringent conditions on Pakistan following Punjab’s decision to offer a significant electricity subsidy, which the IMF deemed “fiscally reckless.” The provincial government had introduced a subsidy ranging from Rs45 billion to Rs90 billion, providing Rs14 per unit relief for two months to consumers using 201 to 500 units. Government sources revealed that the IMF has mandated the withdrawal of this temporary subsidy by September 30th and prohibited any further provincial subsidies during the ongoing 37-month Extended Fund Facility (EEF) program. This directive…

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Dr Kaiser Bengali walks away in protest from federal govt’s austerity, rightsizing drives

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Kaiser-Bengali

Renowned economist, Dr Kaiser Bengali, has walked away from the present federal government’s ambitious drive to curtail its expenses by adopting austerity measures and rightsizing its operations.Dr Bengali has parted ways with three committees of the federal government formed for the purpose. These committees were formed for austerity, right-sizing, and slashing the government’s expenses.The prominent economist sent his resignation to Federal Finance Minister and Cabinet Division Secretary. The resignation shows his lack of confidence in the government’s efforts to cut down on its expenses.According to Dr Bengali, the federal government…

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