Battery energy storage systems (BESS), in combination with solar and wind power, can bring down electricity prices to as low as 6-8 cents per unit and also serve communities living far off the national grid, a study launched on Tuesday said. Titled “Integrating Battery Storage with Renewables: A Techno-economic Analysis”, the study delineates the various use cases of BESS integrated with renewa
Pakistan’s largest conglomerate, Engro Corp, is looking to expand into new markets, including the Middle East, Central Asia and Africa, the chemicals-to-energy company’s largest investor said on Tuesday. Speaking to Reuters in a rare interview, Samad Dawood, vice chairman of Dawood Hercules Corp, which owns 40 per cent of Engro Corp, said the company was also considering global liquefied natura
Pakistan’s trade deficit with the Middle East narrowed 28.18 per cent to $9.521 billion in the first nine months of the current fiscal year from $13.257bn during the corresponding period last year, mainly due to reduced imports of petroleum products from the region. The trade imbalance with the region has shrunk since the start of the current fiscal year due to the lower use of petroleum goods
Prime Minister Shehbaz Sharif on Tuesday ordered stern action against the Federal Board of Revenue (FBR) officials, including its former chairman, allegedly involved in the installation of an ‘ineffective’ track and trace system (TTS) in various industries, causing losses to the tune of billions of rupees through tax evasion and smuggling. The decision to proceed against tax officials was made
The Economic Coordination Committee (ECC) of the cabinet on Tuesday approved 400,000 tonnes of additional wheat procurement by the Centre, allowed the import of 200,000 tonnes of urea, and sanctioned about Rs144 billion in supplementary grants. However, the ECC meeting, presided over by Finance Minister Muhammad Aurangzeb, did not immediately allow the supply of subsidised gas to domestic urea