Amidst stringent security measures, Iranian President Dr. Ebrahim Raisi has embarked on a significant two-day official visit to Pakistan, marking the first such visit by a head of state post the February 8 general elections. His arrival comes at a pivotal moment characterized by escalating tensions in the Middle East and Pakistan’s efforts to complete the Iran-Pakistan gas pipeline, which…
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The Ministry of Climate Change and Environmental Coordination (MoCC&EC) is set to embark on a collaborative effort with stakeholders to address the critical issue of sustainable nitrogen management in South Asia. Recognizing the dual importance of nitrogen in agriculture and its potential environmental repercussions, the ministry aims to develop a comprehensive South Asia Roadmap for Sustainable Nitrogen Management. Nitrogen, while…
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In the village of Sorech, nestled within Upper Chitral district, the commissioning of a 500-kilowatt hydropower station has sparked a transformative shift in local life. Residents, including Mohammad Nadir, Abdul Nasir, Iqbal Murad, and Musa Khan, joyously shared with reporters that since the station’s inauguration three years ago, not a single tree has been felled for cooking or heating purposes.…
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Abu Dhabi, UAE: Today, the Utilities for Net Zero Alliance (UNEZA) unveiled a bold initiative at the 14th Assembly of the International Renewable Energy Agency (IRENA), aiming to significantly scale up renewable energy capacity. The alliance, comprising leading global utilities, announced their joint intent to increase renewable energy capacity within their portfolios to 749 GW by 2030, marking a substantial…
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Mari Petroleum Company Limited (MPCL) has announced a significant oil discovery at the Shawal-1 Well, located in the Mari Development & Production Lease (Mari D&PL) in Sindh Province. MPCL, operating with 100% working interest, successfully drilled the well to a depth of 1,136 meters into the Ghazij Formation. During testing, the Shawal-1 Well yielded 1,040 Barrels of ~30 deg API…
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Officials weigh the impact of the Iran-Pakistan gas pipeline on national energy security amidst mounting US pressure to abandon the plan The rooftop of Vaqar Zakaria’s home in Islamabad is strewn with photovoltaic panels that he says have lowered his electricity bill to virtually nothing. This is countered by the stark contrast in his rising gas costs. “From a steady…
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Albania, Bhutan, Nepal, Paraguay, Iceland, Ethiopia, and the Democratic Republic of Congo have each generated over 99.7% of their electricity from renewables Seven countries currently generate almost all of their electricity from renewable energy sources, according to newly compiled figures. Albania, Bhutan, Nepal, Paraguay, Iceland, Ethiopia, and the Democratic Republic of Congo have each generated over 99.7% of their consumed…
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ISLAMABAD: The federal government has finalised a draft of 10 years ‘Solar Panel Local Manufacturing and Allied Equipment’ policy envisaging incentives to the manufactures, including imposition of tariff on import of finished goods for the period to promote localisation, well-informed sources told Business Recorder. Sharing the details, sources said, the Special Investment Facilitation Council (SIFC) in its 5th Apex Committee meeting…
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ISLAMABAD: Chinese power firm Shanghai Electric has reportedly lodged a complaint against Central Power Purchasing Agency-Guaranteed (CPPA-G) to the Prime Minister for not making payments on time, well-informed sources told Business Recorder. Sharing the details, sources said M/s Thar Coal Block-1 Power Generation Company Pvt Ltd has informed Special Investment Facilitation Council (SIFC) that the company has achieved Commercial Operation Date…
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Pakistan hopes to agree the contours of a new International Monetary Fund (IMF) loan in May, Finance Minister Muhammad Aurangzeb told Reuters, and has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets. Pakistan’s current $3 billion arrangement with the Fund runs out in late April and the government is seeking a longer and bigger…
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