Govt weighing green bonds to swap debt for eco projects

Hammad Azhar, Minister for Energy, on Thursday said the government was exploring options to swap debt for environmental protection related projects after issuing Green Bonds. He was speaking at the virtual “World Leaders’ Investment Summit”, one of the top level events of 7th World Investment Forum (WIF). Speaking on behalf of Prime Minister, the minister underscored the importance of investment saying “investment is a vital component of economic growth and development, especially in the developing countries and FDI (foreign direct investment) inflows are more necessary now than ever”. He pointed…

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Compounding economic ‘crisis’

Rising need of petroleum and its heavy taxation leaves the common man stripped of his earnings, and renders the lives of the poor more miserable than before, but despite all these, brings in super-duper profits to the petroleum companies and revenues in trillions for the government.—Rana Bhagwandas Commission Report on Petroleum Prices submitted to Supreme Court of Pakistan in 2009 The poor economic performance of the coalition government of Pakistan Tehreek-e-Insaf (PTI) is adding miseries to the life of the common man and their pursuit of living with access and…

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Loadshedding-free Punjab: Upgradation plan to be submitted to CCoE Hamid Waleed 22 Oct 2021

The augmentation and upgradation plan of transmission and distribution networks in Punjab will be submitted to the Cabinet Committee on Energy (CCoE) next week to make it loadshedding-free province by the coming summer, said sources. Under the plan, the transmission and distribution networks of both the National Transmission & Despatch Company (NTDC) and five distribution companies (DISCOs), including IESCO, LESCO, FESCO, GEPCO, and MEPCO, would be upgraded to meet the five percent growth in the demand for electricity by the next summer, sources added. According to the sources, the ministry…

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Energy Projects To Be Completed Within Stipulated Time: Secretary Energy & Power

Secretary Energy and Power Khyber Pakhtunkhwa, Imtiaz Hussain Shah here Thursday stressed to complete ongoing projects of energy sector within stipulated time and said that negligence and dereliction of duties shall not be tolerated. He said this in a briefing after assuming charge of Secretary Power and Energy on Thursday. He said that officials should make efforts to complete energy sector projects within time and avoid using tactics to increase their service tenure by delaying and prolonging these schemes. He said that productivity of energy department would be increased and…

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K-Electric wants consumers to pay Rs3.45 more per unit

K-Electric has requested the National Electric Power Regulatory Authority (Nepra) to increase the per unit price of electricity by Rs3.45 for the month of September. The Nepra will hear the appeal from K-Electric on November 3. If the request is approved, the increase will mean an additional burden of Rs6 billion on Karachi consumers. A day earlier, the Central Power Purchasing Company (CPPC), too, sent an application to the Nepra demanding increase in the electricity tariff by Rs2.65 per unit under the fuel adjustment price. It argued that the increase…

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