The shifting of coal handling from Karachi Port Trust to Port Qasim under the order of Supreme Court has greatly benefited the national economy. It has been learnt that Port Qasim Authority (PQA) received US 19.4 million dollars equivalent to PKR 2,644 million in terms of royalty payments (on coal handling at PIBT) during FY 2018-19 whereas during the first…
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The Khyber Pakhtunkhwa government has completed construction of 290 Mini Hydel Power Stations (MHPSs) while 66 more mini-power stations will be completed in June this year. This was told in a meeting held here to review the overall performance of Energy and Power Department with Chief Minister Mahmood Khan in the chair. The chief minister was given detailed briefing on…
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Singapore — The sharp fall in spot LNG prices to record lows is forcing Pakistan to weigh options on whether to cancel or renegotiate term deals, with policymakers and industry officials saying that entirely backing out of contracts may provide short-term gains but will bring pain in the longer term. Although oil-linked deals in a low-priced environment is forcing Pakistan…
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PARIS: Pakistan is ranked among three worst-affected Asian countries by a ‘pandemic’ of air pollution that shortened lives, according to a news research published in the journal Cardiovascular Research on Tuesday. Scientists warned that air pollution shortened lives worldwide by nearly three years on average, and causes 8.8 million premature deaths annually. They added that the worst-hit region is Asia, where…
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In the last one year, the federal government has been pushing up petroleum prices almost every month, making life difficult for commuters. But there was a valid reason to do so. The price of oil, internationally, was just as eye-watering. As global oil production nosedived in 2019, its wholesale cost shot up. The Organisation of Petroleum Exporting Countries (OPEC) and…
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Waymo, the self-driving car developer of Alphabet, has raised $2.25 billion in funding from external investors, led by tech investment firms including Silver Lake, Alphabet itself, Andreesen Horowitz, and AutoNation. Google began working on a self-driving car more than a decade ago, in 2009, and later the parent company spun the project off into Waymo, staking a serious claim in…
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The oil markets are expecting yet again that OPEC will be the hero of oil prices, and this optimism has sent oil prices up 4% on Monday afternoon, and up more than 2% on Tuesday morning. The optimism is a welcomed event after last week’s falling prices that saw oil have the worst week in years. Last week, the concern…
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The new coronavirus Covid-19 will end up being the final curtain on China’s nearly 30 year role as the world’s leading manufacturer. “Using China as a hub…that model died this week, I think,” says Vladimir Signorelli, head of Bretton Woods Research, a macro investment research firm. China’s economy is getting hit much harder by the coronavirus outbreak than markets currently…
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The energy sector poses one of the biggest challenges the country faces today. It stands out as the biggest drain on both the national exchequer and the public purse. The inability of successive governments to turn around the power sector on a sustainable basis has, in fact, become a source of national disgrace. The circular debt continues to build on.…
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ISLAMABAD: The government on Sunday jacked up the petroleum levy on POL products for pocketing at least additional Rs4 to Rs5 billion through consumption of two major products petrol and diesel, reported. The petroleum levy on diesel has been increased by Rs7.05 to Rs25.05 per litre. If the government did not increase the PL (petroleum levy) on diesel, diesel would…
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