Category: Recent Post

For converting the MoUs signed with the IPPs into final legal agreements, the government is currently engaged in finalizing the templates and to this effect the IPPs are also on board. According to a senior official, the government team will soon invite the IPPs’ CEOs to get the templates for final amended Power Purchase Agreements (PPAs) approved. Under the MOUs signed, the government has managed to introduce with the consent of IPPs material changes in the existing PPAs that will yield reasonable dividends amounting to Rs835 billion in the next…

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ISLAMABAD: Pakistan’s reliance on coal to generate power is economically unviable and it needs to swiftly move towards adding about 24,000 megawatts of wind and solar-fired power in the next 10 years to reduce the cost of power generation, says a new study of the World Bank. The Variable Renewable Energy Planning and Integration study suggests that Pakistan should quickly implement a major scale-up of solar and wind generation, which could result in savings of up to a billion dollars per annum. The World Bank said that Pakistan’s use of…

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Pakistan’s premier energy company, Byco Petroleum Pakistan Limited, has partnered with Daraz, Pakistan’s leading online marketplace, to launch its flagship online lubricants store on Daraz. Byco’s wide range of high-quality lubricants will now be available on Pakistan’s most popular online shopping store – daraz.pk. Byco’s flagship store on daraz.pk is currently live now and will offer customers a safe and reliable platform to choose from its extensive range of authentic lubricants, specially formulated for passenger-cars, motorcycles, and diesel-engines. Zafar Shahab, Byco’s CFO, signed the agreement with Mubashar Ali Butt, Daraz’s…

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The Cabinet Committee on Energy (CCoE) scheduled to meet on Tuesday is likely to grant approval for the unbundling of the two state-owned gas utility companies, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC), into five smaller gas companies. According to sources who confided in Profit, said that the CCoE will take up a proposal by the Petroleum Division regarding gas sector reform, particularly the dismantling government-owned gas utility companies into one transmission and four provincial companies. They said that the Petroleum Division has been actively pursuing…

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Geneva, (APP – UrduPoint / Pakistan Point News – 9th Nov, 2020 ) :The Swiss financial sector still invests too much in the production of oil and coal despite progress towards more climate-friendly investments, an official report said Monday. “Overall, the Swiss financial centre now invests four times more resources in companies producing electricity from fossil sources such as coal or gas than in those producing from renewable sources,” said the joint report by the Federal Office for the Environment and the State Secretariat for International Finance. It is the second such report after the first was published in 2017. Players in the Swiss…

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