Category: Highlights

Sindh CM suggests power supply at reduced rates to industries to increase electricity consumption

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Ali-Shah

Sindh Chief Minister, Syed Murad Ali Shah, has suggested to the federal government that electricity at reduced rates should be supplied to at least one additional shift at factories to ensure greater industrial productivity and increased power consumption in the country.The Sindh CM put forth this suggestion while interacting with a delegation of journalists from Lahore who came to Karachi after visiting Thar.He said the power generation capacity of Pakistan stood at 40,000 megawatts while Pakistan’s current electricity need was 30,000 MWs. He said the concerned power consumers in Pakistan…

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Govt. appealed to announce Rs14 reduction in electricity tariffs for Sindh also

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electricity-tariffs

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while referring to recent relief of Rs14 per unit announced for Punjab province only, urged the government to give a similar relief to Sindh also as the public and business community here are also going through the toughest time of their lives due to unbearably high and extremely torturous electricity bills.“The Karachi Chamber vociferously appeals President Asif Ali Zardari, Prime Minister Shehbaz Sharif, Chief Minister Murad Ali Shah and Federal Minister for Energy Awais Laghari to immediately announce…

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Oil prices ease on China demand fears, focus on Mideast talks

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Oil-prices

TOKYO, Aug 19 (Reuters) – Oil prices eased in early Asian trading on Monday as fears of weaker demand in top oil importer China weighed on market sentiment while investors focus on the progress of ceasefire talks in the Middle East, which could reduce supply risks. Brent crude futures dropped 13 cents, or 0.2%, to $79.55 per barrel by 0032 GMT. U.S. West Texas Intermediate crude futures slid 13 cents, or 0.2%, to $76.52 a barrel. Both benchmarks fell nearly 2% last Friday as investors tempered expectations of demand growth from China,…

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Shehbaz Govt May Follow Imran Khan’s Lead on IPPs, but With Strategic Tweaks

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imran-shahbaz

ISLAMABAD: The Shehbaz Sharif-led government appears poised to adopt a similar approach to the Imran Khan administration in its dealings with Independent Power Producers (IPPs). This strategy includes reducing the Rate on Equity for public sector power plants, shutting down five Gencos to achieve a cost relief of up to Rs 4 per unit, and renegotiating existing contracts from a “take or pay” to a “take and pay” mechanism, according to well-placed sources. However, unlike previous efforts, this time the focus on addressing undue gains or profits by the IPPs…

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Call for CPEC to Become a Model Green Belt Initiative

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CPEC-new

LAHORE: The President of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), Moazzam Ghurki, has called for transforming the China-Pakistan Economic Corridor (CPEC) into a model green Belt and Road Initiative (BRI) to safeguard the natural environment in the region. Speaking at a think tank session held at the PCJCCI on Thursday, Ghurki highlighted that such a transformation would not only protect the environment but also boost the adoption of green technologies and the production of renewable energy within ongoing CPEC projects across the country. He emphasized that efforts…

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