Category: Highlights

PM Kakar invites Saudi group to invest in alternative energy sector

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K-Electric

ISLAMABAD: Careta­k­er Prime Minister An­­w­a­arul Haq Kakar on Thu­rsday urged the Al-Jomaih Group of Saudi Arabia to invest in the alternative energy sector of Pakistan. Mr Kakar, in a meeting with a four-member delegation, led by the Al-Jomaih Group head Sheikh Abdulaziz Hamm­ad, said Pakistan and Saudi Arabia had brotherly ties which were getting further stronger. Al-Jomaih earlier made a huge investment in K-Electric. The prime minister said that Pakistan greatly valued the Saudi investment and welcomed its investment in the energy sector. He also lauded K-Electric’s strategy to invest…

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Solar PV projects under G2G mode: PM allows PD to seek approval of summary from Cabinet

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solar-energy

ISLAMABAD: Caretaker Prime Minister Anwar-ul-Haq Kakar has allowed Power Division to seek approval of a summary on draft G2G framework agreements with Saudi Arabia, United Arab Emirates (UAE), Qatar and Kuwait, etc, from the federal cabinet through circulation, well-informed sources told Business Recorder. Sharing the details, sources said the cabinet on October 18, 2022 approved several interventions under the Framework Guidelines for Fast-Track Solar PV Initiatives 2022 for fast-track deployment of solar PV projects including, inter alia, substitution of expensive imported fossil fuels with solar PV Energy Initiative. Under this initiative,…

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Energy sector: Major step taken towards reducing circular debt

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Power-generation

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar directed the Ministry of Energy to prepare and submit a comprehensive and sustainable plan after consultation with the Finance Ministry to reduce the circular debt of power and gas sectors. The caretaker prime minister directed this during a review meeting he presided over on the action plan to reduce the circular debt in the energy sector. He stated that soon after coming into government, the caretakers have taken steps to restore the economy on a priority basis. He further stated that the caretaker government…

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E&P companies will be investing over USD 33.3 million in three years in eight blocks

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New-OGDCL

Government of Pakistan on 24th January, 2024 in Prime Minister’s Secretariate, Islamabad, executed Petroleum Concession Agreements (PCAs) and Exploration Licences (ELs) over block no. Kotra East (2867-8), Murradi (2767-7), Sehwan (2667-19) and Zindan-II (3271-9) with Oil & Gas Development Company Limited (OGDCL), Multanai (3168-3) with Pakistan Oilfields Limited (POL), Sawan South (2668-26) with United Energy Pakistan Limited (UEP) – a Chinese Exploration & Production Company, Gambat-II (2668-25) with Joint Venture of Pakistan Petroleum Limited (Operator) and OGDCL and Saruna West (2666-1) with Joint Venture of POL (Operator), PPL and OGDCL.Signing…

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KE, HUBCO sign MoU for Thar coal power

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KE-HUBCO

KARACHI: K-Electric Ltd (KE) and Hub Power Company Ltd (HUBCO) signed a memorandum of understanding (MoU) on Tuesday to explore the opportunity for off-take of electricity from HUBCO’s Hub plant after its conversion to local Thar coal. The MoU was signed by KE’s chief executive officer Moonis Abdullah Alvi and HUBCO’s chief executive officer Kamran , a statement said. “This is in line with KE’s long-term strategy to induct power generation from indigenous sources into its energy mix. In this regard, the company is exploring the viability of Thar coal-based…

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