Category: Recent Post

The imposition of 17pc sales tax on solar energy equipment, as proposed in the Finance Supplementary Bill, 2021, runs counter to the prime minister’s vision of boosting the share of renewables in the overall energy mix to protect the environment and cut reliance on expensive imported fossil fuels. The increase inthe price of solar energy, owing to the withdrawal of the sales tax exemption, will likely hit the adoption of solar energy in the country, especially by middle-class homeowners, slowing down Pakistan’s progress towards clean energy as promised in the…

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The Sindh High Court (SHC) on Wednesday took up a petition against the suspension of gas supply to non-export industries. The federal government and the Sui Southern Gas Company Limited (SSGC) filed their respective replies to the petition in pursuance of a court notice.In its reply, the government stated that the country’s natural gas reserves are fast depleting, due to which it was unable to meet the rising demand for the commodity. The Sui Southern Gas Company Limited (SSGC) facing a shortfall of 246 million cubic feet per day (mmcfd),…

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More than 1,500 pension funds, universities and other organizations around the world have announced that they will divest from fossil fuel assets, doubling from five years earlier and underscoring the surge in sustainable investing. These institutions have roughly $40 trillion in assets under management. The threat of divestment is one way to pressure corporations into addressing environmental, social and corporate governance issues. Divesting also shields holdings from the ESG risk of the asset values dropping when other investors pull out. The city of New York announced in late December that…

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German Ambassador to Pakistan Bernhard Schlagheck called on Water and Power Development Authority (WAPDA) Chairman Lt Gen (r) Muzammil Hussain yesterday. Speaking on the occasion, WAPDA chairman thanked Germany for its assistance for hydropower projects through KfW. He said that KfW and WAPDA have a history of strong relationship for development of the two sectors. Elaborating the innovative financial plan, devised for construction of its mega projects, he stated that WAPDA is undertaking a number of water and hydropower projects. The chairman also briefed the ambassador about successful launch of…

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Al Haj Automotive Pvt. Ltd (progressive assemblers and distributors of Proton Vehicles in Pakistan) and Euro Oil recently hosted an event at Royal Swiss Hotel to launch Proton Genuine Oil, powered by Petronas, for exclusive use in Proton Cars in Pakistan. Euro Oil is the exclusive distributor of Petronas in Pakistan. Petronas Lubricants have a strong presence internationally, powering high performance vehicles which include Formula1 cars, Moto GP, Dakar Rally and racing cars. The brand is available in 90 countries worldwide and is a leading name in the lubricant industry,…

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