Category: Shortcode

Commerce Ministry Urges Chinese Firm to Form Joint Venture for Accelerated Localization of Solar Panels

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solar-energy

In a recent inter-ministerial meeting chaired by Rashid Mahmood Langrial, Additional Secretary Incharge of the Ministry of Industries and Production, the Commerce Ministry has encouraged M/s Sinotec Solar (Pvt) Ltd, a Chinese company, to consider establishing a joint venture (JV) with M/s Ghani Glass to expedite the localization of solar panel-related items. Langrial reviewed the progress made since the last meeting on February 26, 2024, emphasizing the need to address tariff and tax anomalies faced by the local solar industry. While he advocated for the removal of such barriers, he…

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Public Sector Oil Companies Directed to Establish Renewable Energy Plants: PMO Seeks Detailed Plan

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russain oil

The Prime Minister’s Office (PMO) has issued directives to the Ministry of Energy, specifically the Petroleum and Power Divisions, to formulate a concrete plan within one month for the establishment of renewable energy plants by public sector oil companies. This initiative stems from Prime Minister Shehbaz Sharif’s inaugural address to the National Assembly, where he emphasized the importance of transitioning towards renewable energy sources. In correspondence dated March 4, 2024, Syed Shakil Shah, additional secretary-II at the PMO, outlined various action points from the Prime Minister’s speech, now translated into…

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Engineer plans solar panel implant for human retina to retain eyesight

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Eye

Engineers plan solar panel implant for human retina to retain eyesight Researchers at the University of New South Wales (UNSW) in Australia are working on a new prototype device that can be implanted on the eye’s retina to restore sight. The device uses solar panels like those used to convert sunlight into electricity, a university press release said. While a prosthesis replaces a missing or non-functional part of the body, neuroprosthesis is a relatively new field where the prosthetic device interacts with the neural system to restore lost functionality. Cochlear…

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Washington tells Islamabad to engage IMF, bring economic reforms

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IMF-board

WASHINGTON: The US State Department has conveyed a clear message to Pakistan’s new rulers, emphasising the importance of collaboration with the Interna­tional Monetary Fund (IMF) and economic reforms for stability. In response to a set of questions from Dawn, a State Department spokesperson underscored the enduring partnership between the two nations, stating, “We value our long-standing partnership with Pakistan and have always viewed a strong, prosperous, and democratic Pakistan as critical to US-Pakistan interests.” The spokesperson also highlighted the shared interests of the two countries, which include “bolstering the country’s economy…

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February Economic Update and Outlook

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The February 2024 Economic Update and Outlook uploaded on the Finance Division website on the last day of the month presented the customary dichotomy between the analysis and the statistical data. Examples abound, so to speak: (i) the analysis referred to the caretaker government taking steps to reduce unproductive expenditure. This claim is easily disproved by the data at the end of the report which reveals that in spite of a 5.9 percent decline in Public Sector Development Programme in the first half of the current year against the comparable…

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