Category: Shortcode

Ogra act amendment to bring $200m

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LNG

Pakistan is seeking financing from Qatar for injection into LNG terminal ISLAMABAD: The government is set to amend the Oil and Gas Regulatory Authority (Ogra) Act aimed at allowing the operator of Energas Terminal to have monopoly over capacity utilistion in a bid to attract investment of $200 million from Qatar.At present, the terminal operator is bound to permit the use of liquefied natural gas (LNG) infrastructure to the third party with the consent of Ogra, meaning anybody can qualify for utilising the terminal. Energas Terminal is a QatarEnergy project…

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Cabinet Decides Not to Impose New Duty on Solar Panels

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Solar-Project

ISLAMABAD: In a significant move towards promoting renewable energy, the federal cabinet announced on Tuesday that no new duty will be imposed on solar panels. This decision aims to ensure the widespread accessibility of low-cost solar energy for the common man. By removing potential financial barriers, the government intends to accelerate the adoption of renewable energy sources, making affordable solar power available to every citizen. This initiative is part of the broader strategy to enhance energy sustainability and reduce reliance on traditional fossil fuels, contributing to the country’s environmental and…

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Chinese solar cell maker to build 10 GW factory in Oman

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solar-cell

Chinese solar cell maker Hainan Drinda New Energy Technology plans to build a 10 GW factory in Oman to produce tunnel oxide passivated contact (TOPCon) solar cells. Shenzhen-listed Chinese solar cell manufacturer Hainan Drinda New Energy Technology said it has signed an agreement with the Oman Investment Authority (OIA) to build a 10 GW cell manufacturing facility in Oman. The total investment for the project is approximately CNY 5.078 billion ($699.4 million). Drinda’s wholly-owned subsidiary, JTPV – a major independent cell supplier listed on the Shenzhen Stock Exchange – will build the…

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PKR. 4.7 Billion Annual Revenue Loss to the Country

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PTA-GST

Pakistan Tea Association (PTA) Rejects Discriminatory Taxation in the Federal Budget 2024 – 25 Pakistan Tea Association (PTA) has expressed his profound concerns and apprehensions vis-a-vis proposed budget’s continuation of sales tax and income tax exemptions for the erstwhile FATA/PATA region. Pakistan Tea Association elaborated that, while these exemptions may have been introduced with sincere intentions, but they have been misused for a long period. Pakistan Tea Association apprised that the erstwhile FATA / PATA region, with a population of approximately 6.5 million, should logically import around 1 million kilograms…

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PSO to Fund $2 Billion Investment with Foreign Debt

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pso

KARACHI: Pakistan State Oil (PSO) has announced plans to secure foreign debt to finance a significant portion of its planned $1.5-2 billion investment in Pakistan Refinery Limited (PRL). The state-owned oil marketing company’s receivables have surged to Rs810 billion, primarily due to circular debt and late payment surcharges. During an analyst briefing on the financial accounts for the first nine months of FY24, PSO officials outlined the company’s strategy to diversify its business by establishing electric charging stations and venturing into financial and renewable energy sectors. These initiatives aim to…

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