Category: Highlights

Pakistan has taken right measures for economic growth: Minister Petroleum

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economic growth

ISLAMABAD: Minister for Petroleum and Water Resources Musadik Masood Malik on Thursday said Pakistan was heading towards the right direction as it had successfully controlled inflation, achieved substantial growth in agriculture sector and witnessed an increase in foreign reserves.He was speaking at the concluding plenary of the four-day Sustainable Development Conference organised by the Sustainable Development Policy Institute (SDPI).Mr Malik said the current government had three key priorities, and they were decreasing inflation, ensuring better public life and reducing poverty.“The government aspires to take the GDP growth rate from 2.4…

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Sterling Tech-Mobility partners with Chinese firm to set EV component plant

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EV component plant

Sterling Tech-Mobility Ltd on Monday said it will set up a manufacturing facility in collaboration with Chinese firm Kunshan GLVAC Yuantong New Energy Technology for advance high-voltage DC contactors and relays for electric and hybrid vehicles in Bengaluru at an investment of Rs 40 crore. The collaboration, which is aimed at the domestic production of these auto parts, is expected to generate Rs 250 crore in business by FY30 and Sterling Tools will bring the niche technology to manufacture and assemble HVDC contactors and relays locally at a new facility…

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Oracle Power makes progress on its 1.3 GW hybrid renewable project in Pakistan

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Power project

The UK renewable developer Oracle Power has completed the transmission and grid interconnection study for a project to build a 1.3 GW hybrid renewables complex in Jhimpir, in the Sindh province of southern Pakistan. The study, which was launched in May 2024, was conducted by Power Planners International. The renewable hub, developed by Oracle Energy and China Electric Power Equipment and Technology (CET, a subsidiary of State Grid Corporation of China), will comprise 800 MW of solar and 500 MW of wind power capacity, along with a 260 MW battery energy storage system (BESS). It received…

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Sharif Announces 100MW Power Boost and Rs1 Billion Student Fund for Gilgit-Baltistan

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Sharif-Announces

GILGIT: During a visit to Gilgit-Baltistan (GB), Prime Minister Shehbaz Sharif announced an immediate power supply of 100 megawatts for the region and the establishment of a Rs1 billion merit-based endowment fund for students at Baltistan University and Karakoram University. In a special meeting with the GB cabinet, the Prime Minister also expressed satisfaction over the timely completion of the Bubar Model Village, developed to house those affected by the 2022 floods. He instructed the GB administration to prioritize educational institutions, playgrounds, and essential infrastructure in Ghizer district. Shehbaz Sharif…

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Discos Request 48 Paisa Increase to Recover Rs8.7 Billion from Consumers for Q1

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Power-sector

ISLAMABAD: Power Distribution Companies (Discos) have filed a petition with the National Electric Power Regulatory Authority (Nepra) seeking a positive adjustment of 48 paisa per unit to recover Rs8.718 billion from consumers for the first quarter (July-September) of FY2024-25 under the Quarterly Tariff Adjustment (QTA) mechanism. The petition, filed by the Central Power Purchasing Agency Guaranteed (CPPA-G), details that Rs8.065 billion of the adjustment is attributed to capacity charges for power generation plants. Discos, including IESCO, GEPCO, MEPCO, PESCO, and others, have submitted specific adjustment requests based on their operational…

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