Author: Admin

IPP Alleges Forced Contract Renegotiations, Offers Contract Termination

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IPPs

ISLAMABAD: M/s Sapphire Electric Company Limited (SECL) has raised concerns over what it claims to be the fourth instance of forced renegotiations of sovereign power contracts. The company’s CEO, Shahid Abdullah, suggested in a letter to Prime Minister Shehbaz Sharif that SECL would be willing to terminate its contract and forgo capacity payments if the government accepts its proposals. In contrast to the Task Force on Energy’s assertion of mutual consent in ongoing negotiations, other independent power producers (IPPs) have also expressed similar reservations in a joint letter to the…

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Pakistan Showcases Fusion Energy Research at IAEA Meeting

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Fusion-Energy

ISLAMABAD: Dr. Raja Ali Raza Anwar, Chairman of the Pakistan Atomic Energy Commission (PAEC), led Pakistan’s delegation at the inaugural ministerial meeting of the IAEA’s World Fusion Energy Group (WFEG) in Rome. During the meeting, Dr. Anwar highlighted Pakistan’s contributions to fusion energy research, sharing details of the country’s development of a glass and two metallic Tokamaks as part of its dedicated fusion research program. He noted that Pakistan is currently in the process of designing a medium-sized Tokamak for further research purposes, underscoring the nation’s commitment to advancing fusion…

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Gas Supply Cuts to CPPs Pose Severe Risk to Industry, Jobs

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Gas-Prices

Industrial Leaders Warn of Factory Shutdowns, Mass Unemployment as January Gas Suspension Approaches KARACHI: Industrial leaders have issued a stark warning to the government over its plan to cut off gas supply to captive power plants (CPPs) by January 1, 2025. The proposed suspension could potentially shutter more than 1,300 factories and threaten over three million jobs, creating a severe economic crisis and damaging export performance, according to industry representatives. Fawad Anwer, Chairman of the Pakistan Textile Council, voiced deep concerns over the decision, stating, “Industrialists who have invested in…

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Pakistan has taken right measures for economic growth: Minister Petroleum

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economic growth

ISLAMABAD: Minister for Petroleum and Water Resources Musadik Masood Malik on Thursday said Pakistan was heading towards the right direction as it had successfully controlled inflation, achieved substantial growth in agriculture sector and witnessed an increase in foreign reserves.He was speaking at the concluding plenary of the four-day Sustainable Development Conference organised by the Sustainable Development Policy Institute (SDPI).Mr Malik said the current government had three key priorities, and they were decreasing inflation, ensuring better public life and reducing poverty.“The government aspires to take the GDP growth rate from 2.4…

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