Category: Shortcode

Draw govt’s attention towards forex burden, LC confirmation costs ISLAMABAD: Oil refineries have called on the government to make full recovery of the actual currency exchange losses and the confirmation cost of Letters of Credit (LCs). Pakistan’s oil refineries are currently grappling with substantial currency exchange losses in the import of crude oil, compounded by a significant financial burden from the LC confirmation charges. They have requested the government to ensure the full recovery of actual exchange losses and LC confirmation costs. In a letter sent to the Ministry of…

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ISLAMABAD: Despite massive repetitive price shocks to consumers and countrywide drive against theft and billing defaults, the World Bank has found power and gas circular debts increasing by an average of Rs135 billion to Rs5.5 trillion (about 5.1pc of GDP) by end-January this year and wants the government to do more to recover true cost of supply. “The government has engaged in comprehensive power sector reforms to contain the accumulation of circular debt, but more needs to be done”, said the World Bank in its latest update on circular debt.…

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Enercap Holdings is pushing the adoption of innovative non-chemical batteries that it has designed to drive sustainable energy storage solutions. Headquartered in Dubai, Enercap has long been at the forefront of technological advancements in the energy industry, and its recent innovations marks a major milestone in the company’s journey towards a more sustainable future. Unlike traditional lithium-ion batteries that rely on chemical processes, Enercap’s non-chemical batteries harness electrostatic energy storage, offering unparalleled performance and efficiency. The batteries feature enhanced performance across all key metrics, including reduced costs, extended lifespans, rapid charging capabilities, improved safety…

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Government’s Special Initiative to Provide Off-Grid Power Solutions to 20 Backward Districts The Ministry of Planning, Development, and Special Initiatives has launched the “Special Development Initiative for Poor Districts of Pakistan,” targeting 20 underdeveloped districts across the country. These districts, selected based on high Multidimensional Poverty Index (MPI) scores, span Balochistan, Sindh, Khyber-Pakhtunkhwa, and Punjab. The initiative aims to provide off-grid electrification solutions to these districts as part of a comprehensive approach to uplift underprivileged areas. It includes interventions in physical and digital connectivity, productive sectors, livelihoods, social development, and…

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