Chairman China-Pakistan Economic Corridor (CPEC) Authority Lt. General (retired) Asim Saleem Bajwa has dismissed the impression that the pace of CPEC related projects have slowed down, saying that the scope has actually enhanced. “Some detractors giving a false impression of CPEC being slowed. Not only pace of work on projects picked up recently, a great deal of groundwork done to…
Read MoreDay: June 17, 2020
A water crisis looms for 270 million people as South Asia’s glaciers shrink
CHINA Pilgrims take selfies last September at Drolma La, the highest point on their 32-mile kora—a circular, meditative walk around Mount Kangrinboqe in Tibet. The mountain is sacred to four religions, and four of South Asia’s rivers rise from near its cardinal points. The source of the Indus River is a four-day walk north of the mountain. Photography for this article…
Read MoreMob blocks oil supply from Kohat
KARAK: People on Monday blocked oil supply from Kohat division on the call of a jirga comprising lawmakers to protest denial of basic rights to the resource-rich region. Separate processions comprising hundreds of vehicles led by Jamiat Ulema-i-Islam-Fazl lawmakers from Karak, Mian Nisar Gul Kakakhel and Malik Zafar, and MPA from Kohat, Shah Dad Khan marched to the protest site…
Read MorePunjab brings ride-hailing apps under sales tax net
The Punjab government has added the services of ride-hailing apps to its sales tax net through the Finance Bill 2020, tabled by provincial Finance Minister Makhdoom Hashim Jawan Bakht on Monday. Previously, the ride-hailing apps were giving tax under the rent-a-car services category and were paying 16% tax, however, now they will have to pay only 4% tax under the…
Read MorePakistan’s installed power capacity soars
With a slump in demand on account of Covid-19, Pakistan’s installed capacity of electricity would jump to 41,335 Megawatt (MW), adding more woes on account of power tariff increase due to higher capacity payments and lower plant utilisation factors. According to energy experts, most of the power plants would remain idle due to low demand of electricity in Pakistan following…
Read MoreCoal use in Pakistan’s energy mix negligible
The recently released Economic Survey 2019-20 has noted that the use of coal in Pakistan’s energy mix is currently negligible and the government is focused on increasing its contribution to 30% by the year 2030. According to the report, Sindh has an estimated 185 billion tons of coal reserves in Lakhra, east of Indus, and Thar. Based on official figures,…
Read MoreOil prices rise on supply cuts, improving demand
Oil prices rose on Tuesday, with Brent crude rising above $40 a barrel as the International Energy Agency (IEA) increased its oil demand forecast for 2020 and as record supply cuts supported. Brent crude LCOc1 rose $0.77, or 1.94%, at $40.49 a barrel by 0918 GMT. US oil CLc1 gained 61 cents, or 1.64%, to $37.73 a barrel. In its…
Read MoreFederal cabinet decides to resume phase-wise int’l flights to repatriate overseas Pakistanis
The federal cabinet decided on Tuesday to resume phase-wise international flights for repatriation of overseas Pakistani nationals. During the meeting, presided by Prime Minister Imran Khan, relevant authorises were directed to make an ‘action-plan’ regarding flight operations. The premier said that overseas Pakistani nationals would not be left alone in this difficult time. “Millions of citizens had lost their jobs…
Read MoreThe End Of The OPEC Deal Could Be The Start Of A New Oil Price War
Few markets have been hit harder by coronavirus than United States shale. While global oil prices as a whole have taken quite a beating from a fall in oil demand, a deficit of oil storage, and an oil-price war between the OPEC+ leading members of Saudi Arabia and Russia, the Brent international crude benchmark never went negative. In the United…
Read MoreIEA: The Energy Sector Will Never Be The Same Again
In its annual report World Energy Investment 2020, published late last month, the International Energy Agency describes ‘drastically altered’ energy markets in the wake of the Covid-19 Pandemic. It documents the largest fall in energy sector investment ever and uncovers historic shifts along the way, such as that for the first time ever there will be more consumer spending on electricity…
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