KARACHI: Pakistan’s stock market was down on Tuesday with oil and gas recording a major dip after international oil prices crashed to below zero.Experts, however, are optimistic that the country could benefit from the historically low oil prices.The Pakistan stock exchange’s benchmark KSE-100 index was down by more than 3 percent or 1,131 points by afternoon trade as investors weighed…
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ISLAMABAD -UNS – The meeting of federal cabinet agreed to public the huge corruption scandal report in power sector will public in coming days. Independent Power Producers (IPPs) looting Pakistani nation with cooperation of previous governments and Bureaucracy. Federal Investigative Agency FIA and others government agencies compiled a report on the huge corruption of IPPs. The IPPs report was submitted…
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ISLAMABAD: Federal Minister for Power Division Omar Ayub Khan on Monday held talks with the independent power producers (IPPs) and discussed the issues pertaining to lowering power tariff of the electricity produced by them, ARY NEWS reported citing sources. According to details, the federal minister was briefed during the meeting that there overall 124 power plants producing electricity from wind…
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Special Assistant to the Prime Minister on Information and Broadcasting Firdous Ashiq Awan on Tuesday said that the federal cabinet has decided to send chloroquine tablets to “friendly nations” to help them in their time of need. While briefing the media after a cabinet meeting in Islamabad, Awan said that one million chloroquine tablets will be sent to Saudi Arabia…
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Thanks to government stimulus packages, liquidity is coming back to the market. It will keep enough of the economy afloat so that it can climb out of recession rapidly once the various lockdowns are lifted. But the way much of it is structured means that it will likely benefit already better capitalized larger businesses, over the smaller operators who may…
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When we asked readers to send their questions about coronavirus, a common theme emerged: Many people are fearful about tracking the virus into their homes on their clothes, their shoes, the mail and even the newspaper. We reached out to infectious disease experts, aerosol scientists and microbiologists to answer reader questions about the risks of coming into contact with the…
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In light of the current global situation which does not allow international travel and physical meetings, WWEA will launch a new series of webinars presenting first hand information about the latest developments in wind power from experts from around the world. The first WWEA webinar will be held on 16 April presenting latest developments of key wind markets around the…
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KARACHI: As part of the Rs1 billion Hussain Dawood Pledge, Engro Fertilisers — a subsidiary of Engro Corporation — has committed to provide Rs95 million to the Indus Hospital to expand the Covid-19 testing capacity across Sindh under the “Sindh Screening Programme — Free of Cost” campaign, Engro Fertilisers will sponsor the Indus Hospital network to launch testing interventions across…
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Vestas, the world’s largest wind turbine manufacturer, announced on Monday that it will cut 400 jobs, citing uncertainty caused by the coronavirus pandemic. The jobs affected relate to “technology projects” that will be paused while Vestas focuses its resources on delivering turbines to customers through 2020, a critical construction year in key markets such as the U.S. and China. The…
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ISLAMABAD: The audit committee on power has recommended the government to introduce additional petroleum levy on petroleum products in the wake of reduced global oil prices in a bid to generate Rs100 billion to meet cost of circular debt. Taking advantage of lower international oil prices, with aggregate annual consumption of 20 billion litres of petrol and diesel, a charge of…
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