Year: 2024

Gunvor Group Eyes Investment in Pakistan’s Petroleum Sector

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Shehbaz-Sharif

Agreement Signed with Total Parco for 50% Stake, Says Chairman ISLAMABAD: Gunvor Group Chairman Torbjorn Tornqvist, alongside Total Energies Vice President Mehmet Celepoglu, met with Prime Minister Shehbaz Sharif on Monday to discuss investment opportunities in Pakistan’s energy sector. During the meeting, PM Sharif emphasized that Pakistan’s economy had stabilized and was on a growth trajectory. He outlined ongoing reforms to encourage investment and business activity, noting that these measures were already yielding positive outcomes. The prime minister also reiterated the government’s commitment to removing barriers to foreign investment. Tornqvist…

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Solis Celebrates 100GW Cumulative Shipments with Record 13.3GW in First Half of 2024

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New-Solis

Ningbo, China – September 6, 2024 – Solis, a global leader in solar inverter technology, proudly announces that it has surpassed the 100GW mark in cumulative shipments. This significant milestone underscores Solis’ commitment to driving innovation and excellence in the renewable energy sector. Established in 2005, Solis has rapidly ascended to become one of the world’s foremost manufacturers of solar inverters. As the third-largest PV inverter manufacturer globally, Solis has maintained a strong presence in the industry through its dedication to quality and customer satisfaction. The company, a subsidiary of…

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Government Enforces Essential Services Act to Prevent Protests Against Power Companies’ Privatization

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Power-Projects

ISLAMABAD: The federal government has devised a plan to prevent protests against the privatization of electricity distribution companies. The Essential Services Act has been enforced for all employees and unions of government-owned power distribution companies (DISCOs), the National Transmission and Dispatch Company (NTDC), and government-owned power generation companies (GENCOs). Under the Essential Services Act, protests, strikes, and demonstrations are strictly prohibited. According to government sources, the act has been implemented for six months following approval from the federal cabinet, based on recommendations from the Power Division and the Ministry of…

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Net Metering Tariff Rationalisation Put on Hold Amid Rising Electricity Costs

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Net-Matering

ISLAMABAD: The Power Division has temporarily shelved the net metering tariff rationalisation plan, citing public backlash following a recent surge in electricity prices. Initially directed by the Prime Minister to submit the plan by May 10, 2024, the deadline was extended multiple times, with the latest being September 30, 2024. According to sources, the Power Division informed the Prime Minister’s Office that given the current sensitivity surrounding electricity tariffs, the plan will be revisited at a more suitable time, without providing a specific date. In-house deliberations have been completed, and…

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