Intel announced plans to spin off its venture capital and investment unit, Intel Capital, into an independent company to improve operational efficiency. The standalone entity, expected to launch in the second half of 2025, will operate under a new name, with Intel remaining a major investor. The transition will see the existing Intel Capital team … Read more
The federal cabinet, headed by Prime Minister Shehbaz Sharif, has approved revised agreements with 14 independent power producers, a move that is expected to bring down electricity prices by Rs 10-11 per unit. The renegotiated contracts are set to save 802 billion rupees by reducing profits and costs of independent power projects, while deducting an … Read more
Film Independent announced the winners of its three Emerging Filmmaker Awards at its annual Spirit Awards Nominee Brunch on Saturday. Winners in the remaining categories are scheduled to be announced on February 22. Opening remarks were delivered by Film Independent Board Chair Brenda Robinson, who recalled the organization’s late president Josh Welch during her speech. … Read more
Film Independent’s longtime president, Josh Welch, died on December 31 after a five-year battle with colon cancer. His age was not immediately available. Welch began his career as an actor and began volunteering at the Film Independent Spirit Awards annually starting in 1996. He joined the Film Independent staff more than 20 years ago, becoming … Read more
The Government has completed negotiations with 14 furnace oil-based independent power producers (IPPs) under a “take-and-pay” agreement, with discussions continuing with other IPPs. According to a news report, Prime Minister Shehbaz Sharif announced the gradual closure of old power plants to reduce electricity costs and promote energy efficiency. This step comes within the framework of … Read more
Islamabad: As the government intensifies efforts to re-evaluate agreements with independent power producers amid rising electricity tariffs, Special Assistant to the Prime Minister on Energy Mohamed Ali accused energy companies of obstructing regulatory audits. Speaking on a talk show, Ali criticized independent power producers for resisting attempts by regulators to review their operations. He stressed … Read more
Islamabad: The Federal Cabinet, led by Prime Minister Shehbaz Sharif, on Tuesday approved settlement agreements with eight sugarcane-based independent power producers (IPPs). This decision, which was taken based on the recommendations of the Ministry of Energy and the Department of Energy, is expected to lead to a significant reduction in electricity tariffs. The approved IPPs … Read more
Prime Minister Shehbaz Sharif chairs a meeting of the Ministerial Committee on Energy in Islamabad on October 9, 2024. – PID The Cabinet Energy Committee approves the formation of ISMO. The board of directors of the new entity includes experts from the energy sector. ISMO to allow the purchase of energy from suppliers other than … Read more
Federal Minister of Energy (Energy Department) Awais Leghari on Sunday said there is consensus between the government and independent power producers (IPPs) to reduce electricity prices, as financially challenged consumers struggle with unaffordable tariffs and little hope of immediate relief. Legari, along with sector officials and an economist, addressed the controversial issue of agreements with … Read more
A power transmission tower in Karachi on January 24, 2023. — Reuters IPPs must terminate contracts once the modalities are finalized. The government will provide up to Rs 150 billion in terms of capacity payments. The current administration is negotiating the dues owed to independent energy buyers. ISLAMABAD: At a time when the current … Read more