ISLAMABAD: Finance Minister Muhammad Aurangzeb has hailed the Rs1.2 trillion bank loan secured to settle Pakistan’s circular debt as the “largest financing and largest restructuring transaction” in the country’s history. On Wednesday, the government signed loan facilities worth approximately Rs1.225tr with 18 banks to settle the outstanding dues of Independent Power Producers (IPPs) parked in circular debt. These dues will …

Construction of a “photovoltaic Great Wall,” consisting of row upon row of blue solar panels, is underway deep in the Kubuqi Desert in north China’s Inner Mongolia Autonomous Region. Upon completion, the “photovoltaic Great Wall” will stretch across hundreds of kilometers. The “photovoltaic Great Wall” is also a “Great Wall” of green electricity, industries, innovation and prosperity, said Zhong Yuzhan, …

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday notified Rs3.33 per unit additional fuel cost against consumption in April to enable ex-Wapda distribution companies (Discos) to raise another Rs29 billion in June as the government confirmed on record a minor impact of solar net metering on electricity sales. Nepra “has reviewed and assessed a National Average Uniform increase of Rs3.3321/kWh …