Category: Shortcode

World needs $2.7tr for net zero emissions

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wind-energy

Report says most countries are not on track to even meet emissions targets by 2030 LONDON: Global investment of $2.7 trillion a year is needed to achieve net zero emissions by 2050 and avoid temperatures from rising above 1.5 degrees Celsius this century, a report by consultancy Wood Mackenzie said on Thursday. Scientists have said the world ideally needs to limit global average temperature rise to 1.5C this century to avoid catastrophic effects from climate change. Many governments have pledged to reduce emissions to net zero by mid-century to help…

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Summary seeking up to 50pc raise in gas sale prices re-submitted

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gas-prices

Interim Minister for Energy, Muhammad Ali says increase in gas rates ahead of winter was inevitable to contain the gas-sector circular debt ISLAMABAD: Petroleum Division has re-submitted a summary for upto 50 percent raise in gas sale prices to the interim cabinet in-line with the demand of the International Monetary Fund (IMF), an official of Petroleum Division told Business Recorder on condition of anonymity. “It is most likely that the interim cabinet will approve the sale price of gas for 12 categories of protected and non-protected consumers in the current month (September),”…

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RfP for solar PV project: PPIB seeks revision in indexation, adjustment formula

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solar-panel

ISLAMABAD: The Private Power Infrastructure Board (PPIB) has sought revision in indexation/adjustment formula, taking into account the one-time adjustment of 20 percent of the bid tariff at Commercial Operation Date (COD) for exchange rate variation, well-informed sources told Business Recorder. The PPIB, in a letter to the National Electric Power Regulatory Authority (NEPRA) has cited reference of correspondence of NEPRA’s of September 6, 2023, whereby the decision on the PPIB’s review motion for amendment to the Request for Proposal (RfP) has been issued in line with the Framework Guidelines for Fast…

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Jazz Serves Rs10 Billion Defamation Notice to SNGPL for Baseless Allegations

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Jazz-pakistan

ISLAMABAD – In response to the recent baseless allegations of gas theft by Sui Northern Gas Pipeline Limited (SNGPL), Jazz, Pakistan’s largest digital operator, has served the gas company with a Rs 10 billion defamation notice. Categorically refuting SNGPL’s false claims of gas theft at a Karak (KP) site, the telecom company has served a legal notice to SNGPL. Jazz has reiterated its stance that there’s no provision for natural gas use at any of its network sites across the country, a fact that is also corroborated by the picture…

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Denmark to support green initiatives of Pakistan -Danish Ambassador

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Danish-Ambassador

Ambassador of Denmark H.E. Jakob Linulf held a meeting with Minister of Energy Mr. Muhammed Ali today at Power Division. The agenda of the meeting was opportunities for Green energy initiatives and energy conservation in Pakistan. The discussion of projects and initiatives being carried out under the Danish Energy Transition Initiative (DETI) and Investment Fund(IFU) ,a fund for Developing countries by Denmark, were discussed in the meeting. The opportunities and mechanism for wind energy in Pakistan were discussed in detail. The ambassador said that there has been an increase in…

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