Category: Shortcode

The government is likely to appoint Atif Sabir Khan as Chairman Board of Directors (BoD) of National Transmission and Despatch Company (NTDC) in place of Naveed Ismail, as the company has witnessed a visible decline during the latter’s term, well-informed sources told Business Recorder. The other independent directors of NTDC will be Major General M Azeem Asif (retired), Khaqan Najeeb, Ishaq Aulakh and Mahreen Khan, whereas there will be no change in non-executive directors and executive director. The sources said the Power Division has sent its summary to Prime Minister Shehbaz…

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Ministry of Finance has sought an update from the Ministry of Energy (Power Division and Petroleum Division) on commitments/ actions made with the International Monetary Fund (IMF) including power tariff adjustments and increasing PDL to Rs 50/ litre. The seventh and eighth combined reviews of IMF’s EFF Programme have been completed. The Memorandum of Economic end Financial Policies (MEFP) agreed with the IMF provides a structural benchmark, indicative targets, and other actions relevant to the Ministry of Energy. According to Finance Ministry, there are two structural benchmarks:(i) finalization of the…

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Human-caused climate change likely contributed to the deadly floods that submerged parts of Pakistan in recent weeks, according to a rapid analysis on Thursday looking at how much global heating was to blame. An international team of climate scientists at the World Weather Attribution group said that rainfall in the worst-hit regions had increased as much as 75 per cent in recent decades and concluded that manmade activity likely boosted record levels of August precipitation in Sindh and Balochistan provinces. The resulting flooding affected over 33 million people, destroyed 1.7…

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While the federal government is encouraging people to generate power through alternative energy sources to cut dependence on costly fuel, the Defence Housing Authority (DHA) has sent notices and imposed financial penalties on many of its residents for “violation” of its building control regulations by installing solar panels on their rooftops to generate electricity, it emerged on Friday. Earlier this month, Prime Minister Shehbaz Sharif had okayed a 10,000 MW solar energy project to reduce reliance on costly imported diesel, furnace oil and LNG for power generation. The PM had…

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Lucky Cement plans to install a 25.3MW captive solar power project in Karachi at an estimated cost of Rs3 billion. “In continuation of our earlier disclosure on June 13, 2022, regarding feasibility study for a renewable energy project, we are pleased to inform that the company has entered into an arrangement with Orient Energy Systems Private Limited for the supply and installation of a 25.3 MW captive solar power project at our Karachi plant,” the company announced in a notice to Pakistan Stock Exchange (PSX). “The project will take around…

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