Industry experts call for improving investment conditions to attract interest from Chinese renewable energy investors.
Read MoreIndustry calls for improving investment conditions for Chinese renewable energy investors
Category: Highlights
Worst Crisis Fears In Power Sector Owing To Shortage Of Foreign Exchange
The power sector of Pakistan is facing a looming crisis due to a shortage of foreign exchange, as Independent Power Producers (IPPs) are at risk of shutting down their power plants due to non-payment of approximately $710 million. IPPs have written letters to the federal government, highlighting their outstanding payment issues and warning of severe financial loss if their concerns are not addressed.
Read MoreTurkey Aims to Produce Electricity From Domestic Wind Turbines in 2 Years
Intending to domestically produce wind turbines and contribute to Türkiye’s path toward increasing renewables’ share in electricity generation, Kalyon Holding has signed a preliminary agreement with defense giant Aselsan, its Chairperson Cemal Kalyoncu said Thursday.
Read MoreFPCCI Predicts a Negative Growth Rate in FY23
Karachi Irfan Iqbal Sheikh, President FPCCI, has highlighted the glaring anomalies in the fiscal discipline; management of external account and economic growth rate; which are being observed by FPCCI despite the harshest contractionary measures being implemented in Pakistan for the past many months on the dictates of IMF. Irfan Iqbal Sheikh stressed that people dealing with the ground realities of Pakistan’s economy, i.e. the business, industry and trade community of Pakistan, can see that the economic growth rate of the country will turn into negative by the time FY23 concludes.…
Read MoreIMF Slashes Pakistan’s Growth Outlook To 0.5pc
Hinting at entrenched high inflation, the International Monetary Fund (IMF) on Tuesday lowered its forecast for Pakistan’s economic growth rate for the current fiscal year to just 0.5 per cent, with inflation going beyond 27pc and the unemployment rate increasing to 7pc.
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