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LAHORE: Turkey and Iran have called upon Pakistan to review the tariff for Istanbul-Tehran-Islamabad (ITI) freight train on the basis of actual weight and per kilometre instead of the fixed charges for the 1,990km journey from Iran’s Zahedan city to Islamabad. In two recent coordination meetings of the Economic Cooperation Organisation (ECO) — held virtually on March 1 and 4 — both Turkish and Iranian authorities requested their Pakistani counterparts to introduce the per km distance charges rather than the fixed ones, which according to them, appear expensive to their…

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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 11th Mar, 2021 ) :The Cabinet Committee on Energy (CCOE) on Thursday appreciated the efforts of the Power Division for devising a plan for regular monitoring of Circular Debt situation. A meeting of the Cabinet Committee on Energy (CCOE) was held under the Chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar here, said a press release issued by Ministry of Planning, Development and Special Initiatives. Power Division also presented the latest circular debt status and comprehensive Circular…

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China is increasing green investment under the Belt and Road Initiative (BRI) as the country has been trying to shift away from fossil fuels and further promote clean energy. Investment in renewable energy including solar, wind and hydro became for the first time the majority of Chinese overseas energy investment last year, with share increased to 57 percent from 38 percent the previous year, according to research from the International Institute of Green Finance (IIGF) at the Central University of Finance and Economics. “Investing in renewable energy has become more affordable…

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LONDON (Bloomberg) –OPEC downgraded the outlook for demand for its crude over the next two quarters, in keeping with the group’s plans to keep a tight rein on supply. The Organization of Petroleum Exporting Countries trimmed estimates for the amount of crude it will need to pump in the second quarter by 690,000 barrels a day, amid a weaker picture for demand and stronger growth in rival supply. “Ongoing lockdown measures, voluntary social distancing and other pandemic-related developments” continue to weigh on economic activity, the group’s Vienna-based research department said…

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ISLAMABAD: The Power Division Thursday informed the Cabinet Committee on Energy (CCoE) that three separate inquiry reports had clearly proved that the incident at Guddu Power Complex was a trigger point that led to breakdown of the entire power system in the country. A meeting of the Cabinet Committee on Energy (CCoE) was held under the Chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar. The Power Division presented the report of the inquiry into the power outage across the country on January 9, 2021. A detailed…

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