Author: Admin

Discos likely to be put under army’s microscope

Admin
Power-generation

ISLAMABAD: The Federal Cabinet is all set to approve establishment of Performance Management Units (PMUs) in five high loss-making power Distribution Companies (Discos) under a serving Brigadier of Pak Army as dismal performance of Discos has made the sector unsustainable, sources close to caretaker Minister for Power and Petroleum told Business Recorder. The Federal Cabinet which is scheduled to meet on Tuesday (today) will consider the proposal, prepared in the light of a decision of Apex Committee (AC) of Special Investment Facilitation Council (SIFC). Sharing the details, sources said, after unbundling…

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Engro eyes telecom towers, construction materials

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624387-engro-1383074199

Research predicts company shares to hit Rs490 by Dec 2024 Engro Corporation, a conglomerate of companies, is set to expand primarily in shared mobile phone towers and construction material businesses, anticipating a potential reduction in borrowing costs from banks. The conglomerate’s flagship fertiliser manufacturing project is expected to benefit from the Petroleum Policy 2012, enabling it to pass on the impact of expensive gas to end-consumers. However, Engro is currently in negotiations to sell part of its shareholding in the thermal energy business to Liberty Power, with the deal estimated…

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Shrinking global GDP will compound Pakistan’s problems.

Admin
New-MZH

Special attention be given to inflation, rupee and rising debt Direction of economy should be corrected: Mian Zahid Hussain Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Monday that some economic sectors will be hit as the world GDP declines. Policymakers should take action to tackle the situation, with a special focus on rising debt, inflation, and the value of the rupee, he said. The economy should be headed in the right…

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Army Chief’s direction intervention sought for removal of bureaucratic hurdles in way of new wind, solar projects involving $600M foreign investment

Admin
solar-wind

The prospective foreign investors keen for the past couple of years to build new wind and solar power projects in the country have sought direct intervention from the Chief of Army Staff for immediate removal of bureaucratic hurdles in the way of phenomenally increasing the clean energy generation capacity of Pakistan.The Pakistan Foreign Renewable Energy Investors Forum (PFREF) has urged the Army Chief to intervene in this matter to ensure that there shouldn’t be any bureaucratic hurdle at the level of the Special Investment Facilitation Council (SFIC) for approving the…

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