Category: Shortcode

Ahsan Iqbal Calls for Mobilizing Private and Public Finance for Renewable Energy Development

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ahsan-iqbal

LAHORE: Federal Planning and Development Minister Ahsan Iqbal emphasized the immense potential Pakistan has in producing renewable energy from wind and solar, estimating a capacity of 30,000 megawatts from wind and three billion megawatts from solar energy. However, he stressed that mobilizing both private and public finance is essential to harness this potential. Speaking at the Asia Energy Transition Summit 2024, held at Lahore University of Management Sciences (LUMS), Iqbal outlined the federal government’s five key pillars for transitioning from fossil fuels to renewable energy. These include fostering innovation, mobilizing…

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CCP Urges Government to Expedite Implementation of CTBCM Model to Boost Power Sector Competition

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power-supply

ISLAMABAD: The Competition Commission of Pakistan (CCP) has called on the government to fast-track the implementation of the Competitive Trading Bilateral Contract Market (CTBCM) model to open up Pakistan’s wholesale electricity market, fostering greater competition and efficiency in the power sector. In its Competition Assessment Study on the Power Sector, the CCP stressed the need for retail competition as the ultimate goal, allowing consumers to choose their electricity suppliers. Approved by NEPRA in 2020, the CTBCM model is key to this transformation, enabling bulk power consumers with loads of 1MW…

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CPPCL Shows Conditional Interest in Gwadar Power Plant Amid Uncertainty

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cpec

ISLAMABAD: Chinese company CIHC Pak Power Company (Pvt) Ltd (CPPCL) has expressed conditional willingness to continue work on the 300-MW Gwadar coal power plant if both the Pakistani and Chinese governments decide to abandon the project, according to well-placed sources within the Private Power Infrastructure Board (PPIB). The 300-MW coal-fired plant, part of the China-Pakistan Economic Corridor (CPEC), has faced numerous delays since the issuance of its Letter of Support (LoS) in August 2019. Despite six extensions granted by PPIB, CPPCL failed to meet the Financial Closing (FC) deadline, mainly…

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SBP Developing Climate-Driven Framework to Fund Pakistan’s Energy Transition

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state-bank

LAHORE: State Bank of Pakistan (SBP) Governor Jamil Ahmed announced the development of a climate-driven banking framework to support financing for energy transition in Pakistan. Speaking at the Asia Energy Transition Summit, organized by the Pakistan Renewable Energy Coalition (PREC) in collaboration with the Lahore University of Management Sciences’ Energy Institute, SDPI, Renewables First, and PRIED, Ahmed highlighted the need for renewable energy transition in vulnerable and debt-ridden nations like Pakistan. Despite contributing minimally to climate change, Pakistan ranks among the top 10 countries most vulnerable to its impacts. Ahmed…

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Six dead, eight injured in Mari Petroleum’s MI 8 helicopter crash in North Waziristan

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KARACHI According to tv report Mari Petroleum’s MI-8 helicopter has been crashed in North Waziristan. Six died and eight injured as a result of the helicopter crash.The injured had been shifted to CMH Thal via helicopter.As per reports, the helicopter was carrying 14 passengers including 3 Russian pilots and crew.As per Mari Petroleum spokesperson, the helicopter exploded during flight in Shewa Oil Field in North Waziristan.The helicopter was providing transportation services in the Waziristan’s Shiva  block.Engine failure caused the accident that resulted in a crash, it has been reported.The helicopter…

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