Category: Highlights

Power minister to visit Iran next week

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power-minister

ISLAMABAD: The caretaker Minister for Petroleum and Power, Muhammad Ali, is likely to visit Tehran next week to attend 23rd International exhibition of electricity industry of Iran on November 14-16, 2023, well informed sources in Ministry of Foreign Affairs told Business Recorder. On November 6, 2023, the Ambassador of Iran to Pakistan Dr Reza Amiri Moghaddam called on caretaker Federal Minister for Power and Petroleum Muhammad Ali and extended invitation to him, the sources added. The caretaker Minister, who has already undertook several visits abroad since assuming the charge of both…

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Saudi investors approach IHC seeking action against FIA

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FIA

LONDON: Karachi Electric’s Saudi investors have filed a writ petition with the Islamabad High Court (IHC) requesting action against the perceived inaction of the Federal Investigation Agency (FIA) in response to a critical complaint they had previously submitted around the potential misappropriation of Rs10.5 billion of foreign investors’ funds, specifically, the sale proceeds from an investment firm in Pakistan. Represented by White Crystals Limited, these investors are now seeking a judicial order to compel the FIA to initiate a thorough investigation. White Crystals Limited, a subsidiary of the Saudi conglomerate…

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Chairman WAPDA visits Mohmand Dam Project;Directs contractor for diverting River Swat during current low flow season

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WAPDA

November 8, 2023: Chairman WAPDA Engr Lt Gen Sajjad Ghani (Retd) today visited Mohmand Dam Project, being constructed across River Swat in Mohmand District of Khyber Pakhtunkhwa Province. He reviewed construction activities on different sites of the project – the spillway and the river diversion tunnels in particular. At present, construction works relating to excavation, stabilisation and concreting are being carried out simultaneously on these sites.The Chairman also presided over a progress review meeting during the visit.The meeting was attended by the GM/PD Mohmand Dam Project, senior members of his…

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Pakistan third top recipient of Chinese finance: study

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Chinese-finance

KARACHI: Pakistan is the third biggest recipient of Chinese development finance worldwide with a portfolio of $70.3 billion, according to a report released on Monday by AidData, a US-based international development research lab. Only two per cent of China’s portfolio in Pakistan between 2000 and 2021 consisted of grants while the rest was in the form of loans, says the AidData report that claims to have drawn its conclusions using data from more than 5,300 sources. The average interest rate on loans was 3.72pc with an average maturity period of 9.84 years…

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LONGi sets a new world record of 33.9% for the efficiency of crystalline silicon-perovskite tandem solar cells

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LONGi-sets

Xi’an, November 3, 2023-The world-leading solar technology company, LONGi Green Energy Technology Co., Ltd. (hereafter as “LONGi”), announced today that it has set a new world record of 33.9% for the efficiency of crystalline silicon-perovskite tandem solar cells. It is reported that the previous world record was 33.7% and conducted by King Abdullah University of Science & Technology (KAUST) in May this year. According to the latest certification report of the U.S. National Renewable Energy Laboratory (NREL), the crystalline silicon-perovskite tandem solar cells independently developed by the Chinese solar giant…

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