Author: Admin

Mari Energies to Acquire 5% Stake in Kohesultan Mining Company

Admin
New-Mari1

ISLAMABAD: Mari Energies Limited (MARI), formerly known as Mari Petroleum Company Limited, has announced its definitive agreement to acquire a 5% stake in Kohesultan Mining Company Limited (KMCL). The development was disclosed in a notification to the Pakistan Stock Exchange (PSX) on Wednesday. “Mari Minerals (Private) Limited, a wholly owned subsidiary of Mari Energies Limited, has entered into a definitive agreement—subject to regulatory approvals—to acquire a 5% interest in KMCL from Siahkoh Mining Development (SMC-Private) Limited (SMD),” stated the notice. KMCL is a joint venture between SMD and MCC Tongsin…

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EDB to Draft Comprehensive Power Sector Indigenisation Plan

Admin
Power-sector

ISLAMABAD: The Engineering Development Board (EDB) has been entrusted by the Ministry of Energy, under the National Electricity Policy 2021 and National Electricity Plan 2023, to design a comprehensive Power Sector Indigenisation Plan (PSIP). This initiative seeks to promote import substitution, enhance localisation, and unlock export potential for Pakistan’s electrical power equipment. The PSIP will focus on localising the production of key power sector components, including transformers, switchgear, cables, insulators, energy meters, and overhead transmission fittings. According to the EDB, the plan will serve as a strategic framework for reducing…

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Centre Claims Rs225 Billion Receivables from K-Electric Amid Decline in Circular Debt

Admin
K-Electric

ISLAMABAD: The federal government has claimed Rs225 billion in receivables from K-Electric (KE), with Rs186.5 billion attributed to mark-up on a principal liability of Rs38.8 billion, according to the power division’s latest circular debt report. The report, released after a six-month gap, highlighted a reduction in the power sector’s circular debt, which stood at Rs2.381 trillion as of November 2024—a notable decline from Rs2.678 trillion in November 2023, marking an 11% decrease. The report revealed that circular debt across three major categories—payables to power producers, fuel suppliers, and liabilities parked…

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deugro Wins Prestigious Project Forwarding Award at BIFA 2024

Admin
New-Project21

London: At the British International Freight Association (BIFA) Freight Service Awards 2024, deugro was honored with the Project Forwarding Award, recognizing its exceptional logistics solution for a complex project in northern Papua New Guinea. The BIFA Freight Service Awards celebrate excellence and professionalism across nine industry categories. At the ceremony held on January 16, 2025, deugro impressed judges with its innovative approach to delivering 106,680 FRT of cargo to a remote island construction site. The project’s challenges included limited infrastructure, diverse cargo, strict health and safety requirements, and even encounters…

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Chinese Solar Panel Makers Cut Operations in Malaysia Amid US Tariffs

Admin
Solar-Panel

KUALA LUMPUR – Chinese solar panel manufacturers in Malaysia, including industry giants Jinko Solar, Risen Energy, and JA Solar, have scaled back or ceased operations in response to escalating US tariffs, according to industry sources. These firms, which collectively represent nearly 40% of Malaysia’s solar production capacity, have faced shrinking profit margins due to heightened US scrutiny and tariffs. Risen Energy, which entered Malaysia in 2021 with plans to invest RM42 billion in Kedah, has significantly reduced production. Meanwhile, Longi Green Energy, accounting for 37% of Malaysia’s solar capacity, halted…

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