Category: Shortcode

Finance Ministry Extends Rs 1.094 Trillion Subsidy for Power Sector

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Chinese-power

ISLAMABAD: The Finance Ministry has agreed to extend a subsidy of Rs 1.094 trillion for the power sector for the fiscal year 2024-25, falling short of the Power Division’s request for Rs 1.250 trillion, according to informed sources. Out of this, Rs 174 billion is allocated specifically for K-Electric. The final details of the remaining allocations will be determined once the National Electric Power Regulatory Authority (NEPRA) approves the proposed increase in electricity tariffs through re-basing. The government had previously earmarked Rs 970 billion in subsidies for the power sector…

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Hopewind Leads the Electrical Revolution with Grid-Forming Technology

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Hopewind-Project

As a distinguished leader in electrical solutions, Hopewind excels in technical innovation, constantly injecting new momentum into the progress of a more reliable and stable renewable energy ecosystem. The introduction of grid-forming technology is a core component of Hopewind’s pioneering efforts. What is Grid-Forming Technology? Grid-Forming is a revolutionary technology designed to ensure the stable and reliable operation of power grids, especially in the context of renewable energy integration and decentralized networks. Rather than traditional Grid-following systems, Grid-Forming Technology actively regulates the grid’s frequency and voltage, ensuring grid stability even…

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BRI Projects Set for Revival: Pakistan Seeks Joint Ventures in Renewable Energy and Agriculture

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pak-china

ISLAMABAD: Federal Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, expressed optimism on Tuesday about reinvigorating projects under China’s Belt and Road Initiative (BRI) to bolster Pakistan’s struggling economy. In an interview with Bloomberg, Iqbal highlighted the government’s plans to form joint ventures in renewable energy and agriculture, and to attract Chinese companies to relocate to Pakistan. “I’m very hopeful because I was in China recently and had meetings with their senior leadership… so I see great interest on the Chinese side to revive the momentum for CPEC and…

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Petrol and Diesel Prices Set to Decrease by Up to Rs7.5 Per Litre on May 31

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Islamabad – May 29, 2024 – In light of a bearish trend in the international market, petrol and high-speed diesel (HSD) prices in Pakistan are expected to decrease by approximately Rs6.50 to Rs7.50 per litre on May 31. This comes despite a slight exchange rate loss. Informed sources reported that international prices of petrol and HSD have dropped by about $3.25 and $2.10 per barrel, respectively, over the last fortnight. This follows previous reductions of $8.7 and $4.3 per barrel, respectively, in the preceding fortnight. Based on the final calculation…

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Mr. Mohammed Rajpar Awarded Commander of the Order of the Crown by Belgian Ambassador

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General-Shipping

In a recent ceremony, Mr. Mohammed Rajpar, Managing Director of General Shipping Agencies (Pvt) Ltd, and Chief Executive of the Pakistan Belgium Luxembourg Business Forum, was conferred with the prestigious Commander of the Order of the Crown. This high civilian honor, bestowed by His Excellency Charles Delogne, the Belgian Ambassador to Pakistan, recognizes Mr. Rajpar’s dedication to nurturing business and cultural relations between Pakistan and Belgium over the past two decades. The event drew a distinguished audience from various sectors, including politics, government, diplomacy, and business. Notable attendees included: Mr.…

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