Category: Shortcode

EXCLUSIVE: Assessing the Iran-Pakistan gas pipeline: A solution to Pakistan’s energy crisis?

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iran-gas-pipeline

EXCLUSIVE: Assessing the Iran-Pakistan gas pipeline: A solution to Pakistan’s energy crisis? April 22, 2024 Officials weigh the impact of the Iran-Pakistan gas pipeline on national energy security amidst mounting US pressure to abandon the plan The rooftop of Vaqar Zakaria’s home in Islamabad is strewn with photovoltaic panels that he says have lowered his electricity bill to virtually nothing. This is countered by the stark contrast in his rising gas costs. “From a steady PKR 800 [USD 2.87] a month, it has risen to PKR 4,000 [$14.38] in the…

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Seven countries generate 100% of their electricity from renewable energy

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solar-panel

Albania, Bhutan, Nepal, Paraguay, Iceland, Ethiopia, and the Democratic Republic of Congo have each generated over 99.7% of their electricity from renewables Seven countries currently generate almost all of their electricity from renewable energy sources, according to newly compiled figures. Albania, Bhutan, Nepal, Paraguay, Iceland, Ethiopia, and the Democratic Republic of Congo have each generated over 99.7% of their consumed electricity through geothermal, hydro, solar, or wind power sources, reports the Independent. According to data from the International Energy Agency (IEA) and International Renewable Energy Agency (IRENA), an additional 40…

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Pakistan aims to agree outline of new IMF loan in May, finance minister says

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pak-imf

Pakistan hopes to agree the contours of a new International Monetary Fund (IMF) loan in May, Finance Minister Muhammad Aurangzeb told Reuters, and has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets. Pakistan’s current $3 billion arrangement with the Fund runs out in late April and the government is seeking a longer and bigger loan to help bring permanence to macroeconomic stability as well as an umbrella under which the country can execute much needed structural reforms, the minister said. “We expect the IMF…

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Ogra, oil industry propose phased deregulation of fuel prices

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ISLAMABAD: Amid warnings about supply chain challenges and ret­ail prices increasing by up to Rs27 per litre in Gilgit-Baltistan, the major oil sector stakeholders — the regulator and the industry — have proposed gradual deregulation of petroleum prices over a period of two years to avoid the political pressure associated with pricing. The government has also been advised to end its engagements with petroleum dealers and cartage contractors over their commissions and leave them to the oil industry to set their margins on a “competitive basis”. It should also strengthen…

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Patrind AJK Hydro Power Project Secures Landmark Arbitration Victory

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Karot-Hydropower

In a significant legal development, RIAA Barker Gillette, in collaboration with a leading English Law Firm, has achieved a decisive victory in arbitration proceedings against the Government of Pakistan (GOP) on behalf of Star Hydro Power Limited (SHPL). The final award, issued by the London Court of International Arbitration (LCIA), mandates the GOP to pay substantial amounts to SHPL within 21 days: PKR 2,019,318,458, USD 16,452,807, USD 2,727,240, and GBP 51,180.02. The arbitration revolved around the GOP’s responsibilities under a sovereign guarantee related to a 147 MW hydro power project…

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