09292016Thu
Last update: Thu, 29 Sep 2016 01am

Industries & Sectors

Pakistan - Industries & Sectors

Solar scale-up in Pakistan hits roadblock after payments slashed BAHAWALPUR: An effort to boost large-scale solar energy production in Pakistan has hit a roadblock after the government cut the rate it pays for solar electricity, frustrating investors.Punjab government set up the 100-megawatt Quaid-e-Azam Solar Park in the Cholistan desert in March 2015 as a pilot project to lure foreign investment for an additional 900 megawatts of power.Zonergy Limited, a Chinese-owned firm, then agreed to invest $1.5 billion to produce the power, with a promise to complete the work by June 2016.But last December, Pakistan's National Electric Power Regulatory Authority (NEPRA) reduced the amount the country pays to buy solar electricity from 14.5 cents to 9.25 cents per kilowatt-hour, citing falling costs for solar panels and other equipment.The cut has prompted a lawsuit by Zonergy officials, who last month brought online just 200 megawatts of the promised 900 megawatts of power in Punjab's Bahawalpur district, said Muhammad Amjad, chief executive ...

Pakistan - Industries & Sectors

Power supply to Dhabeji pumping station as per schedule: KE KARACHI: The Karachi Electric (KE) on Monday claimed that the power supply to Dhabeji pumping station is as per schedule.A statement of the utility reiterated that `in the better interest of the people of Karachi, K-Electric provides all possible support to KWSB and all of its strategic installations are exempted from load-shed'.The utility confirmed that due to a technical fault power supply to Dhabeji was partially affected on Sunday. The KE teams mobilized immediately to ...

Pakistan - Industries & Sectors

Pak-China optic fiber cable project to be completed by June 2018 ISLAMABAD: The 820-kilometer long Pak-China optic fiber cable project from Rawalpindi to Khunjrab would be completed at a cost of US$ 44 million by June 2018.After completion of this important project of Information Technology (IT) under China Pakistan Economic Corridor (CPEC) would convert trade corridor into digital corridor.This project was being completed in collaboration between China's Huawei and Special Communication Organization (SCO), Senior Project Manager, SCO, Muhammad Adil said.He informed that this project would be ...

Pakistan - Industries & Sectors

Auto sector: Inconsistency in policies hinders investment MUHAMMAD ALIAlthough the government is wholeheartedly making efforts to bring new investments in auto sector, new entrants appear reticent to pour investments in the country due to inconsistency in the policy; it is learnt.Talking to Business Recorder, one of the potential investors, who is keen to establish manufacturing unit of light commercial vehicles in the country, said on a condition of anonymity that auto policy 2016-21, which was announced with the aim at providing level ...

Pakistan - Industries & Sectors

KP producing 53pc of national oil, production jumps from 30,000 barrels to 50,000 per day PESHAWAR: Chief Minister Khyber Pakhtunkhwa Pervez Khattak has said Khyber Pakhtunkhwa was producing more than 53% of national oil and its production had jumped from 30,000 barrels per day to 50,000 barrels per day while natural gas production had jumped from 300 million to 400 million cubic feet per day.He was presiding over a meeting regarding advantages and strength of the province to be exploited for the benefit of the people and rapid development of ...

Pakistan - Industries & Sectors

Govt introduces semi-mechanized mining technology to maximise coal production LAHORE: The Punjab government has introduced semi-mechanized mining technology to get maximum production of local coal for operating its coal based power plants.The modern technology would also be helpful in optimal utilization of domestic coal reserves, a senior official of the provincial mines and minerals department told APP here on Saturday.He said the government was restructuring the mining sector and huge incentives were also being offered to foreign investors in the mining sector.He said promotion ...

Pakistan - Industries & Sectors

Pre-qualification EOIs invited to develop 135 MW Taunsa hydropower project ISLAMABAD: Punjab Power Development Board (PPDB) has invited Expressions of Interest (EOIs) for pre-qualification of sponsors to develop 135 MW Taunsa hydropower project which would be developed to meet energy needs of the province.The EOIs have been sought from private sponsors for development of the project whose updated feasibility study has been completed in July this year.The project would be developed by private sector as an Independent Power Producer (IPP).As per details here on Saturday, ...