Who says inflation has risen in Pakistan, as the country was ranked the least expensive country in the world to live in, revealed a report. As per the CEOWorld Magazine latest report, Pakistan was ranked the most affordable country on the globe out of 132 countries. Even war-torn countries such as Afghanistan and Syria were placed above Pakistan on the index. CEOWORLD based…
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ISLAMABAD: The federal cabinet on Thursday decided to keep gas and electricity prices unchanged for the next four months [till the announcement of next fiscal budget] and tasked the ministries concerned with reducing taxes on utility bills to provide some relief to the inflation-hit people. The prime minister, while presiding over a meeting of the cabinet, directed the Utility Stores…
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ISLAMABAD: The Petroleum Division has forwarded around 17 onshore oil and gas exploration blocks to the quarters concerned in order to get security clearance and subsequently to initiate the activities to discover hydrocarbon reserves in all four provinces of the country. Currently, there are 38 active exploration licences awarded to both local and foreign national oil companies which are undertaking exploration…
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Commodity trading major Vitol said it expected oil prices to recover later this year once the effect of the coronavirus epidemic wanes, Bloomberg reported, citing the company’s chief executive.Video Player is loading. Before that, however, the oil market will suffer a 200-million-barrel negative impact on demand during the first quarter, Russell Hardy said, with loss of demand in China at 4…
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Venezuela’s President Nicolas Maduro has declared emergency for the country’s oil industry, calling for measures to ensure Venezuela’s energy security, Sputnik reports, quoting a tweet by the presidential administration. “I declare an emergency situation in the oil industry by constitutional and presidential decree in order to take urgent and necessary measures to ensure the country’s energy security and protect the industry from imperialist…
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Pakistan’s hope that the growth of LNG imports would relieve energy-induced constraints on economic growth has been dashed by project delays. Instead, it has turned to the IMF for economic help and coal to relieve energy shortages When Pakistan began importing LNG in March 2015, marking its first imports of natural gas in any form, some hoped that the country…
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Amazon boss Jeff Bezos has pledged $10bn (£7.7bn) to help fight climate change. The world’s richest man said the money would finance work by scientists, activists and other groups. He said: “I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change.” Writing on his Instagram account,…
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February 18, 2020: Pakistan State Oil (PSO), the leading oil marketing company of the country, convened its Board of Management (BoM) meeting to review the performance of the company during the first half of the financial year 2019-20. Despite unfavourable market conditions in the industry and many challenges, PSO remained focused on regaining market share and volumetric growth and outperformed the…
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Advisor to the Prime Minister on National Health Dr Zafar Mirza on Wednesday said that the government has already completed work on National Medicine Policy aimed at reforming the pharmaceutical industry of the country which would be announced in next two weeks. Addressing at 5th Pharma Summit organized by the Pakistan Pharmaceutical Manufacturers’ Association (PPMA) here, the Advisor said that besides…
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The government has planned to save 3 Million Tone Equivalent of Oil (33,000 MW) by 2025 through energy efficiency and conservation. READ MORE: Pakistani Premier warns of possible refugee influx from India “We are aiming for conservation of 3 MTOE till 2025 (33000 MW of electricity) through conservation in industry, building and transport, said Managing Director National Energy Efficiency and Conservation Authority,…
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