Category: Highlights

Side pact with coal-fired IPPs: ECC refuses to extend support to Power Division

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cpec

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has reportedly refused to extend support to the Power Division to sign side agreement with other coal-fired IPPs except Port Qasim Electric Power company (PQEPCL), insisting that the case of Sahiwal coal power plant be submitted separately, well informed sources told Business Recorder. Sharing the details, sources said at a recent meeting of the ECC, Power Division briefed that the CPEC IPPs running on imported coal had been agitating on issues of capacity deductions and imposition of liquidated damages due to coal’s…

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PSA urged to set up dedicated complaint cell to deal with grey channel clean energy products

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renewal-energy

The concerned distributors of renewable energy equipment in the country have urged the Pakistan Solar Association (PSA) to establish a dedicated complaint cell to take up the issues faced by the end-users in the country due to unchecked import of unauthorised solar power equipment through the grey channel.“The bona fide distributors and EPC contractors in the Pakistani market who have the firm belief in serving their customers with complete honesty, integrity, dedication, and professionalism are seriously affected due to constant import and availability of grey channel products in the country,”…

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Embrace Green Future – Growatt’s Highlights in 2023 and Outlook for 2024

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New-Growatt

As the new year ushers in, reflecting on the achievements, 2023 has been a milestone for Growatt, marked by moments of growth, transformation, and learning. According to S&P Global Commodity Insights, Growatt remains the global NO.1 residential inverter supplier. The company is also making great progress in C&I and large-scale PV plants, strengthening its position among the world’s top 4 PV inverter suppliers. Growatt also stood out in Pakistan, being the largest residential inverter supplier and achieving an impressive growth in C&I application. Growatt has achieved remarkable success in the…

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Oil ends 2023 down 10%, faces headwinds in 2024 from Middle East conflict

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oil-and-gas

LONDON: Crude futures lost over 10 percent in 2023 in a tumultuous year of trading marked by geopolitical turmoil and concerns about the oil output levels of major producers around the world. Brent crude on Friday, the last trading day of the year, settled at $77.04 a barrel, down 11 cents or 0.14 percent. U.S. West Texas Intermediate crude settled at $71.65 a barrel, down 12 cents or 0.17 percent. Both contracts slipped more than 10 percent in 2023 to close out the year at their lowest year-end levels since…

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$382m ‘Karachi Mobility Project’: WB rates implementation progress as ‘moderately unsatisfactory’

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Karachi-Mobility-Project

ISLAMABAD: The World Bank has rated the overall implementation progress of the “Karachi Mobility Project” worth $382 million, as moderately unsatisfactory. The bank’s official documents revealed that the effective date of the project was November 26, 2019, however, only $18.88 million i.e. 4.9 per cent of the total $382 million was disbursed so far. The implementation of the project has accelerated, especially following the hiring of the project management’s core team. Recruitment of additional staff to support the Sindh Mass Transit Authority (SMTA) and public-private partnership (PPP) transaction service is…

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