Author: Admin

Govt Considers Annual Electricity Tariff Rebase Shift to January

Admin
Power Division

ISLAMABAD: The federal government is exploring a proposal to rebase electricity tariffs annually from January 1 instead of July, aiming to mitigate public discontent during peak summer months when fuel charges adjustments (FCAs) and quarterly tariff adjustments (QTAs) amplify electricity costs. The proposal, advanced by the Power Division, seeks to streamline tariff adjustments during winter when electricity consumption is lower, ensuring a more stable and sustainable pricing mechanism throughout the year. The Economic Coordination Committee (ECC) of the Cabinet is expected to deliberate on the matter in an upcoming meeting.…

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Saudi Arabia’s Manara Minerals Eyes Investment in Pakistan’s Reko Diq Mine

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Reko-Diq

RIYADH: Saudi Arabian mining giant Manara Minerals is poised to make a significant investment in Pakistan’s Reko Diq mine within the next two quarters, according to Pakistan’s Petroleum Minister, Musadik Malik. Speaking at the Future Minerals Forum in Riyadh, Malik expressed optimism about forthcoming developments, particularly in copper mining. Manara Minerals, a joint venture between Saudi state-controlled miner Ma’aden and the $925 billion Public Investment Fund (PIF), exemplifies the kingdom’s strategic diversification away from oil through global asset acquisitions. Executives from Manara previously visited Pakistan in May 2023 to explore…

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Commerce Ministry Proposes EV Sales Tax Removal and Battery Cap Elimination to Boost Adoption

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Battery-Cap

ISLAMABAD: In a significant move to accelerate electric vehicle (EV) adoption in Pakistan, the Ministry of Commerce has proposed eliminating the 25% sales tax on EVs priced above Rs4 million and lifting the cap on EV batteries for cars, vans, and SUVs. The recommendations were discussed during a recent steering committee meeting on EV policies. The Ministry of Industries and Production (MoIP) directed the Engineering Development Board (EDB) and the New Energy Vehicle (NEV) Policy team to evaluate these proposals, emphasizing the development of standards for EVs by the Pakistan…

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Trina Storage Tops BloombergNEF’s 2024 Bankability Survey, Reinforces Global Leadership in Energy Storage

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Trina-Storage

Trina Storage has retained its top ranking in BloombergNEF’s (BNEF) Energy Storage System Cost Survey 2024, a testament to its advanced technology, integrated capabilities, and financial robustness. This recognition solidifies Trina Storage’s market leadership and sets the stage for its ongoing global expansion. BNEF, a leading research authority in the global new energy sector, plays a pivotal role in guiding financial institutions’ commercial credit decisions. Trina Storage’s consistent inclusion in the survey’s top tier underscores the capital market’s confidence in its system integration solutions and overall bankability. With over 7.5…

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Pakistan’s EO-1 Satellite set for launch from China

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EO-1 Satellite

Pakistan’s EO-1 Satellite set for launch from China signifying SUPARCO’s commitment to advance Pakistan’s space technology. Pakistan Space and Upper Atmosphere Research Commission (SUPARCO) has announced the upcoming launch of Pakistan’s Indigenous Electro-Optical (EO-1) Satellite, which is scheduled for January 17, 2025, from the Jiuquan Satellite Launch Centre (JSLC) in China. This milestone launch demonstrates SUPARCO’s commitment to advancing Pakistan’s space science and technology capabilities, showcasing the country’s expertise and innovation in the field. The EO-1 satellite, developed locally, marks a significant step forward in Pakistan’s space technology sector. It is…

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