Category: Shortcode

Panel formed to discuss Pak-UAE draft deal for running container terminal

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Pak-UAE

ISLAMABAD: The government has constituted a committee to negotiate the draft Framework Agreement between UAE and Pakistan under Inter-Governmental Commercial Transaction Act 2022 for operating Pakistan International Container Terminal (PICT). The Cabinet Committee on Inter-Governmental Commercial Transactions (CCOIGUI ) also considered the summary of the Ministry of Maritime Affairs about the management of operations of the PICT and was informed that Abu Dhabi Ports (ADP) owned by the Government of the UAE has shown interest in operating the container terminal. The CCoIGT decided to constitute a committee to negotiate the…

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IRSA negligence reduces chances of Mangla Dam reaching optimum level

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Mangla-Dam

LAHORE: The chances of Mangla Dam filling up to its optimum level have diminished following the Indus River System Authority’s (IRSA) inaction, an official said on Monday. Punjab’s reliance on Mangla Dam for meeting its irrigation requirements have resulted in lesser water storage in the dam. Referring to an assessment made by the Punjab Irrigation Department, the official said that usually Jhelum River flow started increasing in mid-April, but abnormally cool weather in early to mid-summer months this year led to moderately low inflows. Referring to the statistics till June…

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13 energy projects cleared amid poor bidding response

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power-sector

ISLAMABAD: The federal government has cleared for implementation 13 old renewable energy (RE) projects of about 700 megawatts — commonly called Category-III projects — and has referred the matter to the Council of Common Interests (CCI) for formal approval as bidding for a lot of 600MW solar project at Muzaffargarh recei­ved poor investor response. Informed sources said a special cabinet committee led by Defence Minister Khawaja Asif recommended that the sponsors of 13 proposed RE plants in solar and wind technologies in Cat-III whose tariffs had been approved by the…

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No ‘special discount’ on fuel purchase, says Russian minister

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musadik-malik

ISLAMABAD: Petroleum Minister Musadik Malik has said that despite the increased yield of furnace oil during the refining as well as high operational costs of the import, the Russian fuel would be significantly beneficial for Pakistan, even as a Russian minister ruled out any sort of exclusive discount for Islamabad on the purchase of ‘Urals’ crude from Moscow. “Oil deliveries to Pakistan have begun. There is no special discount; for Pakistan, it is the same as for other buyers,” Energy Minister Nikolai Shulginov told the Russian state media on Friday…

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PM reviews policy on alternative energy

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alternative-energy

LAHORE: Prime Minis­ter Shehbaz Sharif has reviewed the process to formulate a policy regarding the use of alternative energy sources, especially solar energy. Chairing a meeting on Saturday, he said the government had ensured the implementation of measures regarding alternative sources of energy, including solar energy, in the budget. He said the process of converting public buildings to solar power should be expedited. This would not only reduce the electricity cost but save precious foreign exchange, he said, adding that the policy on solar energy should be finalised as soon…

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