energy
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PM for low-cost power generation as energy import bill surges to $27bn
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[ad_1] Prime Minister Shehbaz Sharif addresses the inaugural ceremony of the refurbishment of unit 5 and 6 of Mangla Dam in Mangla on December 5, 2022. — PID MANGLA: Prime Minister Shehbaz Sharif on Monday underscored the need for cheaper electricity generation as the country’s energy import bill has swelled to $27 billion. Addressing the inaugural…
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Minister seeks firms’ input on energy deals with Russia | The Express Tribune
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[ad_1] ISLAMABAD: A “breakthrough” between Pakistan and Russia on the projects agreed between the two countries in the energy sector is expected in December. According to Express News, way has been paved for the import of petroleum products, crude oil and gas from Russia, as refineries in Pakistan have expressed their willingness to produce yields…
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‘Baseless’: Energy ministry denounces fuel shortage news
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[ad_1] A representational image of cars waiting in queues to fill tanks at the petrol pump. — Online/File ISLAMABAD: The Ministry of Energy Tuesday termed the rumours circulating regarding fuel shortage as “baseless” and said the petrol and diesel stocks are sufficient to fulfil the country’s needs. A day earlier, the oil industry had informed…
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UAE, US to spur $100b in clean energy projects | The Express Tribune
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[ad_1] ABU DHABI: The United Arab Emirates (UAE) and the United States (US) have signed a partnership to spur $100 billion of investments in clean energy projects and add 100 gigawatts of clean energy globally by 2035, state news agency WAM reported on Tuesday. “Together, we will spur large-scale investment in new energy technologies, in…
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Solar energy package on the cards | The Express Tribune
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[ad_1] ISLAMABAD: The government is working on a comprehensive solar energy package comprising tax waivers and concessionary loans for consumers in a bid to overcome the prolonged power outages that have stalled life in the country. The solar package will also include a short-term plan for shifting government offices on to solar energy. It involves…
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PM seeks investment in clean energy | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has invited Chinese companies to invest in the huge potential of renewable energy, particularly in solar power, in Pakistan. “Deepening economic cooperation is critical for Pakistan’s socio-economic uplift,” he said and highlighted the significance of China-Pakistan Economic Corridor (CPEC) as a transformational project for the mutual benefit and development…
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More Chinese investment in renewable energy likely | The Express Tribune
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[ad_1] ISLAMABAD: The introduction of a wholesale electricity market in Pakistan will attract more Chinese investment in the renewable energy sector of the country, an investment expert said. The National Electric Power Regulatory Authority (Nepra) on June 6 awarded market operator licence to Central Power Purchasing Agency-Guarantee (CPPA-G) under the Competitive Trading Bilateral Contract Market…
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Govt asked to consider green energy options | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan, facing severe natural gas shortage over the last few years, is growing its dependence on liquefied naturalgas (LNG). The government needs to explore alternative energy sources to save the environment as well as spending on LNG imports. It should consider transitioning to green energy options like solar and wind that can provide…
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Energy sector largest bank defaulter | The Express Tribune
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[ad_1] KARACHI: Pakistan’s energy sector continued to remain the largest defaulter in the repayment of loans to banks in calendar year 2021, as banks’ non-performing loans (NPLs) increased 3.8% (or Rs31 billion) during the year. “Sector-wise analysis indicates that the rise in overall NPLs (the loans which corporate and individuals fail to repay on time)…
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Circular debt continues to plague energy chain | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan State Oil (PSO) is facing a liquidity crunch as its receivables swelled to Rs583 billion following default by gas and power companies. Now, its receivables from gas companies have soared to record highs, causing financial trouble to the oil marketing company. As crude oil prices are surging continuously, the profits of energy…
