Author: Admin

Foreign direct investment in Pakistan energy sector surges to $585.6mn in Q1FY25

Admin
Power-sector

SBP reported a 48 percent increase in FDI, with inflows reaching $771 million in Q1FY25 Foreign direct investment (FDI) in Pakistan’s energy sector, including power and oil and gas exploration, reached $585.6 million during July-September 2024-25 (Q1FY25), a significant increase from $266.3 million in the same period last year (Q1FY24). The power sector remained the largest recipient, followed closely by financial services and oil and gas exploration, showcasing 119.9 percent growth over the first quarter compared to last fiscal year. The Overseas Investors Chamber of Commerce and Industry (OICCI) highlighted…

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Government Should announce Winter Package with Power Tariff at Rs. 20 / Unit for Export-Oriented Industries President FPCCI

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fpcci

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has urged the government to announce a comprehensive, effective and multi-sectoral winter package for trade and industry to mitigate and overcome challenges in industrial production. The industries are in a dire need of facilitation, incentivization and cost-cutting measures to meet export targets through competitiveness in the export markets, he added. Atif Ikram Sheikh apprised that the primary demand of FPCCI is Rs. 20 / kWh electricity tariff for export-oriented industries as, at the moment, the biggest contributor to the cost of production and…

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Chinese Solar Giants Report Mixed Q3 Results Amid Market Challenges

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Solar-Panels

In their Q3 2024 financial reports, China’s top solar companies – JinkoSolar, JA Solar, LONGi, and Trina Solar – showed varied performance as they navigated industry pressures. JinkoSolar faced a sharp 99.41% year-on-year profit drop, posting a net profit of CNY 14.87 million ($2.09 million) and a 22.09% revenue decline to CNY 24.519 billion. Over the first nine months, JinkoSolar’s revenue totaled CNY 71.77 billion, down 15.66%, with module shipments reaching 67.65 GW, primarily n-type. It aims for annual shipments of up to 100 GW. JA Solar saw a CNY…

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Trump Edges Harris in Key Swing States as GOP Secures Senate Majority

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Trump-Edges

WASHINGTON: Former President Donald Trump is leading Vice President Kamala Harris in the U.S. presidential election, securing pivotal wins in battleground states as he strengthens his bid for the White House. Trump’s successes in North Carolina, Arkansas, and South Carolina have propelled him to 230 electoral votes, compared to Harris’s 210. The Republican Party has also reclaimed control of the Senate, flipping seats in West Virginia and Ohio, previously held by Democrat-aligned incumbents. This shift grants the GOP a majority for the 119th Congress, with implications for policy direction over…

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Government Expects Rs300bn Annual Savings from IPP Contract Revisions

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New-ipp

ISLAMABAD: The federal government anticipates annual savings of up to Rs300 billion from renegotiating or terminating contracts with Independent Power Producers (IPPs), potentially reducing electricity tariffs by Rs2-3 per unit. This was disclosed by Special Assistant to the Prime Minister on Power and Energy Task Force Co-chair Muhammad Ali in a briefing to the Senate Standing Committee on Power, led by Senator Mohsin Aziz. Ali stated that ongoing negotiations with IPPs could generate significant savings, with Rs400 billion already saved through early termination of five IPP contracts. Additionally, adjustments to…

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