Author: Admin

Refinery Upgrades at Risk as IMF Rejects POL Sales Tax Proposal

Admin
Refinery-Upgrades

ISLAMABAD: The International Monetary Fund (IMF) has rejected the government’s proposal to impose a 1-2% sales tax on petroleum products, including petrol, high-speed diesel (HSD), kerosene oil, and light diesel oil (LDO), instead calling for an 18% sales tax. An 18% sales tax would increase petrol prices by Rs45 per litre, a politically sensitive move the government is hesitant to adopt. This stance has jeopardized the $5-6 billion upgrade projects of local refineries under the Brownfield Refinery Policy 2023, a senior official involved in IMF discussions revealed. Refineries argue that…

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Thar Block-1 Energy Project Empowers Local Schools with Vital Support

Admin
Thar-coal

THAR: Recognizing the transformative power of education, the Thar Block-1 Integrated Energy Project has launched a school donation campaign to uplift educational standards in one of Pakistan’s most underprivileged regions. The initiative provided crucial support to 17 schools across communities such as Bhave, Wervai, Tilwayo, Shahmir Vikyo, and Kharyo Ghulam Shah, benefiting 1,221 students. Donations included comprehensive educational kits with school bags, stationery, and government-prescribed textbooks. To improve access to clean drinking water, 35-liter water containers were also distributed. Recipient schools included the First and Second Primary Schools in Bhave,…

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Moazzam Ilyas Appointed as PQA Chairman

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Moazzam-Ilyas

ISLAMABAD: The federal government has appointed Rear Admiral (Retd) Syed Moazzam Ilyas as the Chairman of the Port Qasim Authority (PQA). Ilyas has been appointed on a three-year contract under the MP-1 Scale, adhering to relevant rules and regulations. In other administrative developments, Khurram Agha, Secretary Interior, has been granted a three-month extension as Secretary Narcotics Control Division, effective from September 25. Meanwhile, Jodat Ayaz, a Grade-21 officer of the Pakistan Administrative Service, has been designated as an Officer on Special Duty (OSD), with his two-month leave formally approved. Additionally,…

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COP29 Draft Rejected as Negotiators Struggle to Finalize Climate Finance Deal

Admin
COP-29-2

BAKU: Negotiators at the COP29 UN climate summit are racing against time to secure a breakthrough trillion-dollar deal to assist poorer nations in combating global warming after both developed and developing nations rejected an initial draft proposal. The summit, originally scheduled to conclude on Friday, is expected to extend into overtime as the Azerbaijani hosts scramble to revise the contentious draft. The primary goal of COP29 is to establish a new funding framework to succeed the $100 billion annual pledge by wealthy nations, focusing on emissions reductions and climate adaptation.…

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China Challenges Pakistan’s Energy Claims: Phasing Out Gas and FO Plants Could Save $3 Billion Annually

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furnace-oil

ISLAMABAD: China has disputed Prime Minister Shehbaz Sharif’s assertion that converting imported coal power plants to local coal could save $1.2 billion annually. Instead, Chinese officials have recommended prioritizing the phasing out of gas and furnace oil (FO) power plants, projecting savings of $3 billion per year. These insights were shared during the 3rd Belt and Road Energy Ministerial Conference held in Qingdao on October 23-24, 2024. Pakistan’s Minister for Power, Sardar Awais Ahmad Khan Leghari, represented the country, attending the opening ceremony, a parallel forum, and four bilateral meetings,…

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