Month: June 2020

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…

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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…

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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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ISLAMABAD: The Imperial College London’s algorithm creates the picture that Pakistan will reach the peak on August 10, 2020 on which day around 80,000 deaths will occur. The research is sponsored by the UK government which shows the projected deaths from coronavirus in case of lockdown or otherwise in different countries, except the US and the UK. The website says…

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Lahore, June 14, 2020: The Sindh High Court has ruled in favor of Gas & Oil Pakistan Ltd. (GO) in the company’s case against government agencies over harassment. The decision comes in lieu of the recent fuel crisis and the alleged involvement of OMCs amongst which GO is included. According to details, GO approached the Sindh High Court on June…

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June 15, 2020: Besides initiating construction work on the Main Dam of Diamer Basha Dam Project, Pakistan Water and Power Development Authority (WAPDA) is also gearing up for implementation of a Cultural Heritage Management Plan in the Project area with a view to fulfilling its national and international obligations for construction of water and hydropower projects. The Plan aims at preservation…

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Karachi: Ismail Suttar, President of the Apex Body of Manufacturers, The Employers Federation of Pakistan (EFP), has said that the root cause of the burgeoning circular debt is the sovereign guarantees of Rate of Return (ROR) to IPPs (Independent Power Plants) in tenns of US$ and not Rupees. With a weakening Rupee against US Dollar, the cumulative 13 years’ loss…

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The small-scale storage, regasification and distribution facility will be ready “in a few months”, according to Gas & Heat, the Italian engineering company that is the EPC contractor for the project. London-based Avenir LNG, a joint venture consisting of Stolt-Nielsen, Hoegh LNG and Golar LNG, owns Higas with a 80 per cent stake while its local partners Gas & Heat…

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KARACHI: Well-known economist Dr Kasier Bengali has said that Pakistan’s economic policies are being made in Washington and the International Monetary Fund (IMF) has sent its people to sit in major institutions, which is why there is no mention of the China-Pakistan Economic Corridor (CPEC) in the budget 2020-21. Speaking during a webinar organised by the Pakistan Institute of Labour…

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