Author: Admin

Pakistan third top recipient of Chinese finance: study

Admin
Chinese-finance

KARACHI: Pakistan is the third biggest recipient of Chinese development finance worldwide with a portfolio of $70.3 billion, according to a report released on Monday by AidData, a US-based international development research lab. Only two per cent of China’s portfolio in Pakistan between 2000 and 2021 consisted of grants while the rest was in the form of loans, says the AidData report that claims to have drawn its conclusions using data from more than 5,300 sources. The average interest rate on loans was 3.72pc with an average maturity period of 9.84 years…

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LONGi sets a new world record of 33.9% for the efficiency of crystalline silicon-perovskite tandem solar cells

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LONGi-sets

Xi’an, November 3, 2023-The world-leading solar technology company, LONGi Green Energy Technology Co., Ltd. (hereafter as “LONGi”), announced today that it has set a new world record of 33.9% for the efficiency of crystalline silicon-perovskite tandem solar cells. It is reported that the previous world record was 33.7% and conducted by King Abdullah University of Science & Technology (KAUST) in May this year. According to the latest certification report of the U.S. National Renewable Energy Laboratory (NREL), the crystalline silicon-perovskite tandem solar cells independently developed by the Chinese solar giant…

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Three key water projects face funding shortfall

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e4209a3f-35b0-4fbf-bb03-19084096b4d3

ISLAMABAD: Three key water sector development projects under the Prime Minister’s National Agriculture Emergency Programme and designed to increase crop yields leading to gaining self-sufficiency in food suffer a major setback as funding for these projects has been delayed. The national food security and research ministry — which sponsored these projects costing Rs194 billion and launched in 2019-2020 and due to be completed in 2024 — is now seeking a two-year extension for their completion in anticipation of approval of funds. The water-related projects include the second phase of ‘National…

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Gas tariff hikes disastrous for industry, warn business leaders

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Oil-and-Gas

KARACHI: Massive gas tariff hike in addition to rising power rates would cause a steep rise in production cost resulting in the closure of small- and medium-sized units, making exports uncompetitive and rendering thousands of employees jobless. Just a day ahead of the Federal Cabinet meeting last Monday, Caretaker Minister for Energy, Power and Petroleum Muhammad Ali had assured the members of the Karachi Chamber of Commerce and Industry (KCCI) of trying his level best in the cabinet’s meeting to bring down the gas tariffs which were being raised to stop circular debt from…

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Hydel projects at LoI stage: SIFC directs PD to streamline issues, policy limits

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Karot-Hydropower

ISLAMABAD: The Executive Committee (EC) of the Special Investment Facilitation Council (SIFC) has directed the Power Division that all hydel projects at the LoI stage from various provinces including Kalam Asrit 238 MW, Asrit Kedam 229 MW and 470 MW Lower Spatgah, be reviewed to streamline their issues and policy parameters in the working group. Well-informed sources told Business Recorder South Korean companies have approached SIFC Secretariat and shared their concerns regarding delay in different approvals, which came under discussion at EC of the SIFC on October 23, 2023. M/s…

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