Author: Admin

EU Subsidies for Fossil-Fuel Cars Reach €42 Billion, Study Calls for Shift to EV Support

Admin
electric-car

LONDON: The European Union’s five largest economies collectively spend €42 billion ($45.6 billion) each year subsidizing fossil-fuel-powered company cars, according to a recent study by Transport and Environment (T&E). The report urges a redirection of these funds toward electric vehicle (EV) subsidies to align with the EU’s green transition goals. Company cars account for about 60% of new vehicle sales across Europe. The study, conducted by Environmental Resources Management (ERM), highlights Italy as the largest contributor, spending €16 billion annually on subsidies for fossil-fuel company cars, followed by Germany with…

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PSO Waives Interest for Five IPPs, Receives Rs14.8 Billion Principal Payment from Power Purchaser

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PSO-Head

ISLAMABAD: In a significant move aimed at restructuring the power sector, Pakistan State Oil (PSO) has waived late payment interest charges on fuel supply debts owed by five Independent Power Plants (IPPs) whose agreements with the government have been terminated. These IPPs include HUBCO, Lalpir, Saba Power, ROUSCH, and Atlas Power. The settlement agreements, known as Negotiated Settlement Agreements (NSAs), were reached after extensive negotiations between the Power Division, a government task force, and the IPPs. As part of the settlement, PSO will receive a principal payment of approximately Rs14.8…

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Ahsan hopes Pakistan economy volume to reach $3 trillion in 23 years

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ahsan-iqbal

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal on Monday hoped that the annual volume of Pakistan’s economy will be $ 3 trillion and the country will be counted among the top 10 economies of the world in 100 years of independence in 1947. In the current era, data-driven, knowledge economies are ruling the world, and data sets, data integration and Artificial Intelligence are significant for the sustainable economic development of any country, the Minister said. Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal said…

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Prime Minister of Kazakhstan Welcomes WPC Energy President as Preparations Begin for 2028 Energy Congress in Astana

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Kazakhstan-01

In preparation for the 26th WPC Energy Congress set to take place in Astana in 2028, Mr. Pedro Miras, President of WPC Energy, paid a working visit to Kazakhstan’s capital. Organized by the Kazakhstan National Committee of WPC Energy, represented by the KAZENERGY Association, the visit included meetings with Prime Minister Olzhas Bektenov and a tour of the EXPO International Exhibition Centre, the future venue for the Congress. During talks, the Prime Minister reaffirmed Kazakhstan’s commitment to hosting the “Energy Olympics,” which will mark the first time this prestigious event…

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“Pakistan’s Solar Panel Imports Drop, Prices Set to Rise Soon”

Admin
Solar-Power

Due to a dramatic drop in solar panel prices, residential, commercial, and industrial consumers had been installing panels at an increasing rate. However, after a prolonged period of price decreases, market experts now suggest that the reduced volume of imports could either stabilize prices or lead to an increase in the coming months. According to a report, the sharp drop in solar module prices over the past few months led to a surge in imports, as consumers gravitated toward renewable energy solutions. However, by September 2024, Pakistan’s solar panel imports…

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