Day: April 13, 2020

FPCCI’s Businessmen Panel SVP, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said coronavirus is digging a grave for country’s stressed economy. Giving package to some sectors while at the mercy of the situation is not good policy as all sectors are interlinked that should be bailed out…

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The country’s energy sector circular debt has touched whopping level of Rs 2 trillion as failures are witnessed starting from generation, transmission distribution and recovery. A couple of months ago, Chairman National Electric Power Regulatory Authority (Nepra), Tauseef H Siddiqui opened a pandora’s box when he submitted report to the Prime Minister, Imran Khan, challenging all the claims of Power…

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The PTI government is quite serious to start next week renegotiations of Power Purchase Agreements (PPAs) with Independent Power Producers (IPPs) with positive mode seeking relaxations based on mutual agreement, but not with the intent to harassthem as PPAs are supported by sovereign guarantees. To this effect, a committee headed by Federal Energy Minister Omar Ayub Khan, comprising other members…

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Who was pulling the strings of Usman Buzdar to get Rs3 billion subsidy for sugar industry approved, is not documented in official files but it is now clear that none else than the Economic Coordination Committee of the Cabinet (ECC) set the stage for sugar mill owners’ windfall. Not only that the ECC’s decision was referred to byboth the Punjab…

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Pakistan’s premier oil refining company, Byco Petroleum Pakistan Limited (BPPL) has informed that it has resumed production. In late march, the Ministry of Energy had issued an order to stop all import of petroleum products to all oil marketing companies to ensure that domestic refineries products are fully consumed. Fayaz Ahmad Khan, Vice President of Commercial at BPPL said: “Due…

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The Asian Development Bank (ADB) today tripled the size of its response to the novel coronavirus disease (COVID-19) pandemic to $20 billion and approved measures to streamline its operations for quicker and more flexible delivery of assistance. The package expands ADB’s $6.5 billion initial response announced on 18 March, adding $13.5 billion in resources to help ADB’s developing member countries counter the…

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