Year: 2024

Energy Planning Critical for Driving Just Transition Investments in Global South: IRENA Reports

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renewable-energy

Abu Dhabi, UAE/Foz do Iguaçu, Brazil – October 3, 2024:The International Renewable Energy Agency (IRENA) has highlighted the crucial role of energy planning in unlocking investment opportunities in emerging markets and developing economies (EMDEs). In new reports commissioned by Brazil’s G20 presidency, IRENA calls for de-risking strategies and leveraging public finance to drive a just and inclusive energy transition in the Global South. Current global investment patterns show significant disparities, with advanced economies and large EMDEs like China, India, and Brazil attracting the bulk of the funding. In contrast, the…

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Local Refineries Urge Resolution of Key Issues Before Committing to Upgrades

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refinery

KARACHI: Pakistan’s five local refineries have linked the signing of Upgrade and Escrow Agreements with the Oil & Gas Regulatory Authority (Ogra) to the resolution of critical issues facing the sector. With the October 22 deadline approaching, the refineries have expressed concerns that unresolved matters are jeopardizing their operations and upgrade plans. In a letter to Ogra, the refineries highlighted the detrimental impact of recent changes to the sales tax on petroleum products, implemented through the Finance Act, 2024. The change has nullified the incentives provided under the Brownfield Refining…

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IMF Mission Director: If Pakistan Implements Reforms, This Could Be Its Last IMF Programme

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pak-imf

KARACHI: Nathan Porter, Director of the International Monetary Fund (IMF) mission for Pakistan, has indicated that the ongoing IMF programme could be Pakistan’s last, provided the country implements the recommended economic reforms in full. In an interview with Voice of America, Porter emphasized that genuine commitment to these reforms could lead to lasting economic stability. Following the IMF’s approval of the debt programme, Prime Minister Shehbaz Sharif expressed hope that this would be Pakistan’s final IMF programme. Porter echoed this sentiment, noting that while Pakistan faced significant economic uncertainty in…

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Protected Electricity Consumers to Receive Subsidy via E-Vouchers

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power-tariff

ISLAMABAD: The Ministry of Poverty Alleviation and Social Safety (MPA&SS) has announced plans to provide direct subsidies to protected domestic electricity consumers through E-vouchers. According to sources, the Benazir Income Support Fund (BISP) will collaborate with the Power Division to implement the scheme. In a meeting, several key decisions were made: BISP will share PMT-based (Proxy Means Test) data with the Power Division.The Power Division, in coordination with distribution companies (DISCOs), will issue E-vouchers to consumers via registered mobile numbers verified by the Pakistan Telecommunication Authority (PTA).The State Bank of…

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Experts Urge Simplified Power Tariff Structure for Consumer Relief

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power-subsidy

Webinar Highlights Need for Clearer Policies and Public Awareness ISLAMABAD: Experts at a webinar organized by the Sustainable Development Policy Institute (SDPI) on Tuesday emphasized the urgent need to simplify Pakistan’s electric power and tariff structures to ease the burden on consumers. The session highlighted that the National Electric Power Regulatory Authority (NEPRA) and the Ministry of Energy set electricity tariffs, leaving independent power producers (IPPs) and distribution companies (DISCOs) unable to alter rates independently. The webinar also marked the release of SDPI’s latest booklet, Understanding Electric Power System and…

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