BEIJING: President Asif Ali Zardari on Thursday witnessed the signing of Memorandums of Understanding (MoUs) worth more than $300 million in the energy, coal, and cement sectors in Beijing. The agreements, signed between Pakistani stakeholders and Chinese investors, aim to enhance the country’s industrial growth and energy sustainability. The Energy Department of the Government of Sindh and Ming Yang Renewable Energy (International) Company Ltd. signed an MoU to advance renewable energy projects in the province. Pakistan’s Ambassador to China, Khalil Hashmi, signed on behalf of the Ministry of Energy, while…
Read MoreDay: February 6, 2025
Pakistan, China sign MoUs to enhance cooperation in clean energy, construction
Pakistan and China signed multiple memorandums of understanding (MoUs) Thursday to enhance cooperation in different fields, including renewable energy, fertiliser and construction. An MoU was signed between Pakistan’s Thatta Cement Company and China’s Qing Gong Construction Group, under which a production line will be set up in Pakistan to increase cement production by 5,000 tonnes per day. Another MoU was signed between Sindh’s Energy Department and China’s Ming Yang Renewable Energy Company. Under the agreement, cooperation will be extended on various renewable energy projects in Pakistan. Murad-led team meets top…
Read MoreOil firms slightly as Trump policies continue to drag on prices
LONDON: Oil prices edged up on Thursday after Saudi Arabia’s state oil company raised its March crude prices sharply, but the gains barely dented the previous day’s slide in benchmark Brent crude. Brent crude futures rose 28 cents, or 0.4%, to $74.89 a barrel by 1251 GMT. U.S. West Texas Intermediate crude was up 29 cents, also 0.4%, at $71.32. Oil prices had plunged by more than 2% on Wednesday as a large build in U.S. crude and gasoline stockpiles signaled weaker demand while investors also weighed up the implications…
Read MorePakistan Issues Licences to 57 EV Manufacturers to Drive Green Transition
Islamabad: The government has granted licences to 57 electric vehicle (EV) manufacturers, marking a major step towards a cleaner and more sustainable transportation system. This initiative aligns with the National Electric Vehicles Policy (NEVP) 2019, which aims for 30% of all passenger vehicles and heavy-duty trucks to be electric by 2030, increasing to 90% by 2040. The policy also targets two- and three-wheelers, as well as buses, with 50% of new sales expected to be electric by 2030 and 90% by 2040. To boost local EV production, the government has…
Read MoreShocking Truth: Pakistan’s Electric Vehicle Goals May Be Unrealistic”
Renowned automobile expert Sunil Sarfraz Munj, co-founder of PakWheels, has expressed skepticism about Pakistan’s ability to achieve its target of electric vehicles (EVs) making up 30% of the total vehicle market. In a recent podcast, Munj cited the lingering electricity crisis in many parts of the country as a major obstacle. He emphasized that EVs are not a viable option for long-haul travel globally, due to the lack of charging facilities. Munj noted that while EVs are suitable for urban areas with accessible charging stations, their adoption in Pakistan is…
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