Category: Shortcode

Solar panel advances will see millions go off grid, scientists predict

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solar-panel

Solar energy costs have fallen 90 per cent over the last decade, while new discoveries have seen efficiency rates rise More than 30 million homes in Europe could meet all their energy needs using rooftop solar panels alone, according to a new study. Researchers from the Karlsruhe Institute of Technology in Germany found that more than 50 per cent of Europe’s 41 million freestanding homes could have been self-sufficient in 2020 using just solar and batteries, with this figure expected to rise to 75 per cent by 2050. Advances with solar technology…

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IMF mission told: Hike in gas tariff to help govt collect Rs980bn

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IMF-board

ISLAMABAD: Top mandarins of the Petroleum Division on Friday told the visiting IMF mission that the recent hike in gas tariff will help the government mop up revenue of Rs980 billion in eight months, and this is how the new flow in existing circular debt would end. The relevant authorities of the Petroleum Division held technical level talks with the visiting IMF mission, headed by Nathan Porter. They said hike in gas tariff from November 1, 2023 would help the government collect revenue of Rs980 billion. The Fund was told…

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Need of NSC for change in shareholding: KES Power: Privatisation Div asked to seek advice

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k-electric

ISLAMABAD: A three-member Ministerial Committee has asked Privatisation Division to seek advice from the Ministry of Law and Justice on whether any change in shareholding of KES Power requires National Security Certificate (NSC), well informed sources told Business Reorder. The ministerial committee, composed of Minister for Energy (chair), Minister for Privatisation, and Minister for Law & Justice, has been assigned to assess any specific interest of the GoP in the matter of K-Electric (KE) regarding shares dispute and suggest a viable future course of action. The committee is also evaluating the…

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Power industry calls for release of vital reports

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power-sector

Say it is crucial for decision-making, including impending privatisation of DISCOs ISLAMABAD: Frustration is growing among power industry stakeholders due to significant delays in the release of crucial reports by the power regulator, which are essential for informed decision-making. In particular, the absence of timely data is hindering the effective functioning of the sector. The World Bank’s “Public Expenditure Review” report has emphasised the urgent need for computerised mechanisms that can generate timely and aggregated data on State-Owned Enterprises (SOEs). This is seen as vital for fast-tracking critical decision-making processes,…

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Oil falls as geopolitical risk premium wanes

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Oil price

LONDON: Oil prices fell more than $2 on Friday, on track for a weekly loss as supply concerns driven by Middle East tensions eased, while jobs data raised expectations the US Federal Reserve could be done hiking interest rates in the biggest oil consuming economy. Brent crude futures were down $2.03, or 2.4 per cent, to $83.82 a barrel at 1:32 p.m. EDT (1832 GMT). US West Texas Intermediate crude futures fell $2.21, or 2.7pc, to $80.26 a barrel. Both benchmarks were on track for weekly losses of more than…

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