ISLAMABAD-Petroleum Division (Ministry of Energy) has extended its unfailing support to government of Pakistan in the fight to curb COVID-19 pandemic in country. The SNGPL (Sui Northern Gas Pipeline Limited Co.) has allocated Rs38 million for relief activities across the country. The Board of Company has directed the company to deposit Rs19 million in Prime Minister’s Relief Fund for Pandemic…
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The State Bank of Pakistan (SBP) has proposed that it will be responsible for only price stability and has sought to abolish the dual objective of controlling inflation and supporting economic growth – a policy shift that former central bankers argue does not suit Pakistan. The central bank has moved the proposal as part of amendments to the SBP Act…
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This is the first time any of the standing committees of the Federation of Pakistan Chambers of Commerce & Industry met digitally through the video conferencing system. Convener of the committee Naeem Qureshi chaired the meeting. “We may simply create another environmental catastrophe that will further aggravate the COVID-19 health emergency if in case the medical waste of the coronavirus…
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According to the World Intellectual Property Organization (WIPO) data, China’s Huawei Technologies, the world’s biggest maker of telecoms equipment, has become the top corporate patent filer for the third consecutive year. Hence, in a first, China knocks U.S. from top spot in global patent race. WIPO, which oversees a system for countries to share recognition of patents, said 58,990 applications…
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It is expected that this historic intervention when concluded will see crude oil prices rebound by at least $15 per barrel in the short term ABUJA, Nigeria, April 10, 2020/ — Nigeria has joined other OPEC+ counterparts in a historic curtailment of crude oil production to rebalance and stabilize the global oil markets. Nigeria is participating in the pursuit of…
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ISLAMABAD: The inquiry committee has recommended to recover Rs 100 billion immediately from the owners of power plants and review the signed agreements for installation of a power plant in the country, Pakistan Today reliably learnt on Saturday. According to sources, a nine-member committee has submitted a detailed inquiry report to Prime Minister Imran Khan regarding more than Rs 100…
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The World Health Organization (WHO) has warned malicious elements operating in Pakistan against unauthorized use of its logo and emblem on domestic products to make illegal gains. It has threatened to initiate legal proceedings against those involved in the act. Following the outbreak of Coronavirus in Wuhan in December last year, numerous private companies started using WHO’s logo on their…
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ISLAMABAD: The meeting on strategy on how to merge state-owned LNG entities was held here on Thursday with secretary Petroleum Division in the chair but it surprisingly decided not to merge the Pakistan LNG Limited (PLL) and Pakistan LNG Terminal Limited ostensibly against the federal government’s decision taken six months back in favor of merger of the two entities. The…
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Pakistan Business Council (PBC) has recommended further reduction in the Policy Rate from the current 11 percent to 7 percent in order to boost economic activities in the backdrop of ailing economy because of the COVID-19 pandemic. In its latest report ‘COVID-19 Crisis: Business Response & How to Sustain Employment in Pakistan’ issued here on Thursday, the business advocacy body…
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ISLAMABAD: The government is moving to place coal pricing within the purview of Oil and Gas Regulatory Authority (Ogra) as it plans to revisit the imported coal supply agreement in a bid to cut prices. Currently, pricing of petroleum products, liquefied natural gas (LNG) and liquefied petroleum gas (LPG) falls within the domain of Ogra and coal pricing would be…
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