Category: Highlights

ISLAMABAD: The recent government decision for introduction of Euro-V petrol and High Speed Diesel (HSD) in the country is pre-mature owing to old vehicular fleet, non-compliant refineries, unprepared government machinery and will waste public money and burden majority of lower middle income consumers. This was the crux of opinions expressed by petroleum experts at a virtual moot organised by Islamabad Policy Institute (IPI) — a think tank — which also released its report “Rushed Transition to Euro-V Standard Fuels: Need for A Public Debate”. Speakers asked government to put on hold its…

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ISLAMABAD: Almost all of the Asian Development Bank (ADB)-funded energy projects worth $1.7 billion for improvement in the transmission and distribution sector are facing serious implementation problems. This was reported at a tri-partite meeting presided over by Federal Minister for Economic Affairs Makhdum Khusro Bukhtiar and attended by ADB’s Country Director Ms. Xiaohong Yang, deputy chairman Planning Commission and officials of relevant ministries. During the portfolio review meetings, participants expressed satisfaction over the progress on almost all of the non-energy ADB-funded projects worth $1.35bn particularly those in the highways and…

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KARACHI: Oil sales increased 21 percent year-on-year to 1.6 million tons in August with furnace oil consumption in the power generation sector having sharply soared amid resurgence in post-lockdown activities, analysts said on Wednesday. Oil marketing companies sold 1.3 million tons in August last year. Sales of furnace oil (FO), high-speed diesel (HSD) and motor spirit increased 71 percent to 311,000 tons, 25 percent to 508,000 tons and 10 percent to 697,000 tons in August, according to the Oil Companies Advisory Committee. “The pickup in FO volumes was largely attributable…

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The relations of independent power producers (IPPs) have hit a new low due to serious contentions over the recent agreement signed with the government negotiation committee that saw a reduction in the rate of return and accountability of IPPs that generate excess profits. According to a report by Khaleeq Kiani in Dawn newspaper, differences have arisen between two groups of IPPs due to lack of mutual understanding and confidence in each other.  Amidst the crisis, Hubco Chief Executive Officer (CEO) Khalid Mansour penned his resignation as the IPP Advisory Committee…

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Islamabad : Efforts are under-way to make Islamabad as the first-ever city of Pakistan to convert its public transport into electric vehicles in near future, said Federal Minister for Science and Technology Chaudhry Fawad Hussain on Wednesday. Addressing a press conference here, the federal minister said, “This project would revolutionalise the entire transport sector of Pakistan.” Chaudhry Fawad said that his keen interest was to launch especially designed bikes for the girls who face transport problems on daily basis while going to their schools and colleges. Launch of electric buses…

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