Year: 2024

ECC Approves Rs44bn Grants, Highlights Economic Stability

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Power genration

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved Rs44 billion in supplementary grants on Wednesday while projecting signs of macroeconomic stability. Finance Minister Muhammad Aurangzeb emphasized positive indicators such as a $944 million current account surplus, reduced inflation, and increased sales across key sectors. The surplus, the highest in a decade, stemmed from a 35% surge in remittances, 33% growth in technology exports, and a 31% increase in Roshan Digital Account inflows. The minister highlighted improved business confidence, a 900-basis-point reduction in the policy rate, and the State…

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Pakistan Solar Industry Delegation Visits Huawei HQ in Shenzhen

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Shenzhen, China – A high-level delegation from Pakistan’s solar industry recently visited Huawei’s headquarters and experience center in Shenzhen. The delegation included the Chairman of the Pakistan Solar Association (PSA) and representatives from key Huawei partners in the FusionSolar and manufacturing sectors. The delegation was also met by Huawei Digital Power Pakistan CEO and MD and had the opportunity to:  * Tour Huawei’s state-of-the-art facilities: Witnessing firsthand the company’s cutting-edge research and development capabilities.  * Learn about Huawei’s innovative solar solutions: Gaining a deeper understanding of FusionSolar’s intelligent photovoltaic solutions…

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Petroleum Division to Discuss Ethanol Blending in Petrol with Oil Sector

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Petrol-oil

KARACHI: The Petroleum Division is set to hold a crucial meeting today (Wednesday) with stakeholders from the oil sector to explore the feasibility of ethanol blending in petrol. The meeting will include officials from the Oil and Gas Regulatory Authority (OGRA) and representatives of local refineries to evaluate the availability and integration of fuel-grade ethanol into refining operations. Policy Development UnderwayThe initiative, originally proposed in July this year, aims to align with the prime minister’s directives to develop a comprehensive plan for ethanol-blended petrol. A committee was established to draft…

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Over Rs200 Million Gas Dues Owed by Top Government Offices

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SNGPL-Office

ISLAMABAD: Over 20 high-profile government entities, including Aiwan-e-Sadr, Parliament Lodges, the Ministry of Finance, and the Foreign Office, collectively owe more than Rs200 million in unpaid gas bills to Sui Northern Gas Pipelines Limited (SNGPL), according to official communication from SNGPL’s management. Key Defaulters and DuesParliament Lodges/MNA Hostel: Rs24,955,133 (including disconnected meters with Rs2,655,735 pending).Cabinet Division Building: Rs23,075,733.Aiwan-e-Sadr Facilities: Rs16,685,739 (main building, police barracks, and dispensaries).Foreign Office: Rs53,309,209.Pak Secretariat: K-Block owes Rs23,579,378, M-Block Rs24,482,408, and Q-Block Rs3,740,602 (disconnected meter).The Parliament House Building also ranks high on the list, with Rs24,158,444…

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ECC to Approve Security Package for Riali-II Hydropower Project

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Karot-Hydropower

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet will convene on Thursday (Dec 19) to approve the security package documents for the 7.08 MW Riali-II Hydropower Project, developed under the Power Generation Policy 2015, sources told Business Recorder. Key ConsiderationsThe Finance Division has directed the Power Division to ensure that the proposed agreements strictly adhere to the Power Generation Policy 2015, especially regarding contractual terms, and avoid imposing any additional obligations or guarantees not already specified in the policy. The division also clarified that Water Use Charges (WUC) for…

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