Category: Shortcode

The PTI (Pakistan Tehrik-e-Insaf) government decided to freeze petroleum and electricity prices in the end of February for four months. That decision is haunting today. The prices were brought down and frozen at a time when international oil prices were skyrocketing due to Russia’s invasion of Ukraine. Pakistan’s government could not afford the luxury of absorbing the subsidy. The demand has remained unchecked as consumers are not paying the market price. Due to this, petroleum import bill is growing and that is a cause of great concern for a country…

Read More

Pakistan is currently in the midst of political upheaval and economic uncertainties. It may appear odd that anyone would be interested at this juncture in reading about the long-term development path of the country. However, it must be emphatically submitted that in our pursuit of immediate and short-term relief and gratification we have been pursuing a band aid fix-it-now approach postponing and neglecting the serious deep-rooted structural problems that are indeed the main cause of our secular economic decline and frequent economic crises. It is a clarion call for our…

Read More

The world’s largest offshore wind turbine maker, Siemens Gamesa, plans to speed up production by opening a facility that has the capability to manufacture all turbine components under one roof. The company has started manufacturing of nacelles and blades at its new facility in Le Havre. Believed to be the world’s first facility to encompass both offshore wind turbine nacelle and blade manufacturing under one roof, the plant is the largest industrial renewable energy plant in France. The factory will supply offshore wind components both to the budding French market…

Read More

Raw material and logistics inflation coupled with downward price pressures from auctions have led to an unsustainable situation where wind OEMs are selling at a loss, with the sector unable to deliver Europe’s planned tripling of wind capacity by 2030, industry leaders have warned. The state of the supply chain is ultimately unhealthy right now,” GE Renewable Energy chief executive for onshore wind, Sheri Hickok, told a panel at the WindEurope 2022 conference in Bilbao on Tuesday. “It is unhealthy because we have an inflationary market that is beyond what…

Read More

Lucky Cement, the largest cement producer in Pakistan, is launching a solar-plus-storage project with 5.589MWh of energy storage, which it claimed would be the largest in the country. The stock-listed company is partnering with local renewable energy firm Reon Energy to build the 34MW solar PV project with storage at its Pezu plant, located in the northern province of Khyber Pakhtunkhwa. The storage will improve the reliability of the power supply to the plant by smoothing out the intermittency of the solar PV plant and allow for a rapid response…

Read More