Category: Highlights

Iranian President Raisi’s High-Profile Visit to Pakistan Amidst Tensions and Key Agenda Items

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President-Raisi

Amidst stringent security measures, Iranian President Dr. Ebrahim Raisi has embarked on a significant two-day official visit to Pakistan, marking the first such visit by a head of state post the February 8 general elections. His arrival comes at a pivotal moment characterized by escalating tensions in the Middle East and Pakistan’s efforts to complete the Iran-Pakistan gas pipeline, which has garnered considerable attention in recent headlines. President Raisi, accompanied by a high-level delegation including the foreign minister, cabinet members, senior officials, and a business delegation, was warmly received by…

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10-year solar panel manufacturing policy finalised

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solar-panel

ISLAMABAD: The federal government has finalised a draft of 10 years ‘Solar Panel Local Manufacturing and Allied Equipment’ policy envisaging incentives to the manufactures, including imposition of tariff on import of finished goods for the period to promote localisation, well-informed sources told Business Recorder. Sharing the details, sources said, the Special Investment Facilitation Council (SIFC) in its 5th Apex Committee meeting held on 8th-9th September 2023 directed to formulate “Solar Panel Local Manufacturing Policy” through consultations in Working Group (WG) meetings. In this regard, several meetings of WG on “Solar Panel…

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Payments issue with CPPA-G: Shanghai Electric lodges complaint with PM

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Shanghai-Electric

ISLAMABAD: Chinese power firm Shanghai Electric has reportedly lodged a complaint against Central Power Purchasing Agency-Guaranteed (CPPA-G) to the Prime Minister for not making payments on time, well-informed sources told Business Recorder. Sharing the details, sources said M/s Thar Coal Block-1 Power Generation Company Pvt Ltd has informed Special Investment Facilitation Council (SIFC) that the company has achieved Commercial Operation Date (COD) on February 5, 2023, however it is facing severe cash flow issues due to inefficient payments from CPPA-G. “Since we have achieved COD on February5, 2023, we are facing…

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Longi Solar and Netline Group Partner to Launch Green Hydrogen Technology in Pakistan

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Longi-1

Longi Solar, a global leader in renewable energy technology, and Netline Group of Companies, a premier renewable energy solutions provider in Pakistan, have signed a groundbreaking Memorandum of Understanding (MOU) to introduce advanced green hydrogen technology in Pakistan. This strategic partnership, announced in Abu Dhabi on April 17, 2024, marks a significant step towards promoting sustainable energy solutions in the country. Green hydrogen technology, which produces hydrogen fuel through water electrolysis using electricity from renewable sources like wind, solar, and hydro, offers a pollution-free alternative to conventional methods reliant on…

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Saudi Arabia Nears $1 Billion Investment Deal in Reko Diq Mining Project

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Reko-Diq

Saudi Arabia is edging closer to finalizing a potential deal to acquire a minority stake in the Reko Diq gold and copper mining project, according to sources familiar with the matter, as reported by Bloomberg. Manara Minerals Investment Company, backed by the Saudi sovereign wealth fund, is in discussions to invest a substantial sum of at least $1 billion into the Reko Diq project, currently under the control of Canadian mining giant Barrick Gold Corporation. Reports suggest that Manara Minerals Investment Company could announce a preliminary agreement on transaction terms…

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