Author: Admin

Gold prices see major decline in Pakistan

Admin
gold price

The price of 24-karat per tola gold decreased by Rs800 and was sold at Rs272,600 on Tuesday against its sale at Rs273,400 the previous day. The price of 10-gram 24-karat gold also decreased by Rs685 to Rs233,711 from Rs234,396 whereas that of 10-gram 22-karat gold declined to Rs214,235 from Rs214,863, the All Sindh Sarafa Jewellers Association reported. The prices of per tola and 10-gram silver remained constant at Rs3,350 and Rs 2,872.08 respectively. The gold price in the international market decreased by $8 to $2,614 from $2,622, the association added.

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Plan Underway to Reduce Electricity Tariff by Rs. 12 by March 2025

Admin
Power-Plants

The federal government is set to negotiate with private Independent Power Producers (IPPs), state-owned power plants, and solar and hydropower projects to reduce electricity tariffs by up to Rs. 12 per unit by March 2025. According to sources, negotiations aimed at lowering electricity costs are ongoing and are expected to be completed within the next six months. Talks involve all major power producers, including IPPs and state-run plants. If successful, the tariff reduction is estimated to range between Rs. 7 to Rs. 12 per unit. The deadline for completing the…

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China Breaks Ground on World’s Largest Compressed Air Energy Storage Project

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Energy-Storage

China’s Huaneng Group has commenced construction on the second phase of the Jintan Salt Cavern Compressed Air Energy Storage (CAES) project in Changzhou, Jiangsu province, setting a new benchmark in the global energy storage industry. Once completed, it will become the world’s largest CAES facility, boasting record-breaking advancements in power output and efficiency. The second phase will include two 350 MW non-fuel supplementary CAES units with a combined storage volume of 1.2 million cubic meters. This design achieves the largest single-unit power generation capacity and total storage capacity globally, with…

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K-Electric Ensures Uninterrupted Power Supply to 70% of Network

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circular-debt-K-electric-ceo

K-Electric (KE) has announced that 70% of its 2,100 feeders remain exempt from loadshedding following its quarterly review. The updated loadshedding schedule is now accessible on the KE website and is effective immediately. The remaining 30% of feeders experience loadshedding durations ranging from 6 to 10 hours. Customers can stay updated through the KE Live App and KE’s WhatsApp service. Timely bill payments and reductions in electricity theft have improved power supply in many areas, with some, including Orangi Sector 14-A to 14-F and Shamsi Colony, achieving full exemption from…

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KUFPEC Sells $60M Assets to PEL, Exits Pakistan’s Energy Sector

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Gas-Sale

ISLAMABAD: Kuwait Foreign Petroleum Exploration Company (KUFPEC) has officially exited Pakistan’s oil and gas sector by selling its key assets, valued at approximately $60 million, to Pakistan Exploration (Private) Limited (PEL). This marks the conclusion of KUFPEC’s operations in the country amidst growing challenges in the energy sector. A senior official from the Ministry of Energy revealed that mounting circular debt, now at Rs2,700 billion, has significantly deterred foreign Exploration and Production (E&P) companies. Of this amount, Rs1,500 billion, including $600 million owed to local and foreign E&P firms, remains…

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