Day: November 7, 2024

Pakistan has taken right measures for economic growth: Minister Petroleum

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economic growth

ISLAMABAD: Minister for Petroleum and Water Resources Musadik Masood Malik on Thursday said Pakistan was heading towards the right direction as it had successfully controlled inflation, achieved substantial growth in agriculture sector and witnessed an increase in foreign reserves.He was speaking at the concluding plenary of the four-day Sustainable Development Conference organised by the Sustainable Development Policy Institute (SDPI).Mr Malik said the current government had three key priorities, and they were decreasing inflation, ensuring better public life and reducing poverty.“The government aspires to take the GDP growth rate from 2.4…

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Sterling Tech-Mobility partners with Chinese firm to set EV component plant

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EV component plant

Sterling Tech-Mobility Ltd on Monday said it will set up a manufacturing facility in collaboration with Chinese firm Kunshan GLVAC Yuantong New Energy Technology for advance high-voltage DC contactors and relays for electric and hybrid vehicles in Bengaluru at an investment of Rs 40 crore. The collaboration, which is aimed at the domestic production of these auto parts, is expected to generate Rs 250 crore in business by FY30 and Sterling Tools will bring the niche technology to manufacture and assemble HVDC contactors and relays locally at a new facility…

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Oracle Power makes progress on its 1.3 GW hybrid renewable project in Pakistan

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Power project

The UK renewable developer Oracle Power has completed the transmission and grid interconnection study for a project to build a 1.3 GW hybrid renewables complex in Jhimpir, in the Sindh province of southern Pakistan. The study, which was launched in May 2024, was conducted by Power Planners International. The renewable hub, developed by Oracle Energy and China Electric Power Equipment and Technology (CET, a subsidiary of State Grid Corporation of China), will comprise 800 MW of solar and 500 MW of wind power capacity, along with a 260 MW battery energy storage system (BESS). It received…

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OGRA Enforces New Safety and Branding Standards for Oil Tankers

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OGRA

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has mandated that oil marketing companies (OMCs) strictly comply with updated safety and branding standards for tank lorries transporting petroleum products throughout Pakistan. In a circular, OGRA outlined specific safety, color, and branding guidelines, requiring tank lorries to display the OMC’s designated color scheme, logo, and brand, and to be equipped with tracker devices for enhanced monitoring. The directive follows OGRA’s observation that some OMCs were not fully adhering to branding protocols, which are essential for ensuring uniformity and physical reporting compliance.…

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Pakistan to Establish 10,000 EV Charging Stations by 2030 in Push for Sustainable Transport

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electric-vehicles

ISLAMABAD: Federal Minister for Industries and Production Rana Tanveer Hussain announced Pakistan’s plan to set up 10,000 electric vehicle (EV) charging stations nationwide by 2030. This initiative aims to reduce fuel imports, lower carbon emissions, and support eco-friendly transportation. Speaking at an exhibition by the Engineering Development Board (EDB), Hussain highlighted Pakistan’s shift to EVs, sharing that 31 companies have shown interest in the sector, with two already licensed to manufacture electric vehicles. He revealed that the second EV policy, expected by November 30, will enhance the framework set by…

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