Category: Shortcode

Senator Mushahid Hussain Syed has said that by utilising “our natural resources, we can bid goodbye” to the International Monetary Fund’s handouts. “If we truly exploit and utilise our mineral wealth, natural gas, and offshore blue economy, cumulatively worth almost a trillion dollars, Pakistan can bid goodbye to the International Monetary Fund handouts, which we have received for 23 times, without bringing about quality change,” the senator said while addressing the workers of the China-Pakistan Economic Corridor (CPEC) projects in Sindh on Sunday. The parliamentary delegation was led by Senator…

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PPIB ENERGISES NATIONAL GRID WITH ANOTHER 1320 MW CHEAP AND INDIGENOUS ELECTRICITY Private Power and Infrastructure Board (PPIB) on 5th February 2023 announced achievement of Commercial Operation Date (COD) of country’s largest Thar coal based power project located at Thar Block-1. Having the generation capacity of 1320 MW, Shanghai project has been implemented under the China-Pakistan Economic Corridor (CPEC). The Project is developed by Thar Coal Block-1 Power Generation Co., a fully owned subsidiary of Shanghai Electric. The Project has attracted valuable foreign direct investment of $1,912 million which is…

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With only three days left to end differences, Prime Minister Shehbaz Sharif on Monday gave a go-ahead to increase electricity prices aimed at striking a deal with the International Monetary Fund (IMF), which may further push the annual base tariff up by about 33%. The decision in principle was taken in a meeting held at the Prime Minister House after the IMF did not budge from its earlier stance that Pakistan will have to honour its past commitments. The premier chaired the meeting online, as he was in Lahore. There…

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Pakistan and Denmark are likely to sign agreement under Danish Energy Transmission Initiative (DETI) during the visit of Danish Minister for Development Cooperation and Global Climate Policy, Dan Jorgensen, well informed sources told Business Recorder. The pact will be signed by the Danish Ambassador to Pakistan Jakob Linulf and Secretary Power Division, Rashid Mahmood Langrial on February 7, 2023 (tomorrow). According to the agreement, a total budget of 2 million DKK has been approved for DET|-activities in Pakistan including technical advice from DEA, Energinet and International consultants. Framework agreement with Denmark:…

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China has officially delivered two Hualong-1 nuclear power units, which were developed with China’s homegrown third-generation nuclear power technology, to Pakistan, according to the China National Nuclear Corporation (CNNC). With the inauguration of Unit 3 of the Karachi Nuclear Power Plant (K-3) on Thursday, the two million-kilowatt Hualong-1 units K-2 and K-3 have now both officially been delivered to Pakistan and put into operation, said the CNNC. The CNNC said it has built two nuclear power stations in Pakistan with a total of six nuclear power units. Among them, the…

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