As consumers across the country face difficulties due to petrol shortage, the government is currently contemplating completely deregulating pricing and marketing of petrol. According to a report published in Dawn, the government is considering doing away with uniform pricing of petrol and deregulating it in line with other petroleum products like HOBC which are already deregulated. Recently OMC’s have come…
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Over the weekend, OPEC and its allying oil-producing countries agreed to extend oil production cuts for another month in an effort to boost the economy in the wake of the Covid-19 pandemic. Under the prior agreement set in April, the 23-member group began curbing production by 9.7 million barrels per day on May 1, which was slated to extend through…
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ISLAMABAD: Germany will provide technical assistance, worth Rs700 million, to Pakistan in the field of renewable energy and energy efficiency. An agreement was signed between Secretary Economic Affairs Noor Ahmed and Ambassador of Germany to Pakistan Bernhard according to which Germany will provide technical assistance to Pakistan under the Pakistan-Germany Development Programme, worth 4 million euros or Rs700 million. The technical…
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A project described as the U.K.’s first consumer-owned wind farm has been launched, as the way people power their homes continues to change. In an announcement Monday, London based start-up Ripple Energy said the Graig Fatha wind farm in Wales would be “owned by the consumers it supplies.” The one turbine, 2.5 megawatt facility is set to come online in…
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Swarms of locusts spreading across Pakistan are emerging as a bigger threat to the economy than the coronavirus pandemic, with the pests threatening farm output, livelihoods and food security. The locust-invasion now covers an area of 57 million hectares in a country with a total crop area of 23 million hectares, said Falak Naz, director general of crop protection at…
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The generals are back in control in Pakistan — unofficially that is. There’s now more than a dozen former and current military officials in prominent government roles, such as running the state-owned air carrier, the power regulator and the National Institute of Health, which is leading the country’s pandemic response. Three of those appointments happened in the last two months.…
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The era of the U.S. dollar’s “exorbitant privilege” as the world’s primary reserve currency is coming to an end. Then French Finance Minister Valery Giscard d’Estaing coined that phrase in the 1960s largely out of frustration, bemoaning a U.S. that drew freely on the rest of the world to support its over-extended standard of living. For almost 60 years, the world…
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Leadership may be hard to define, but in times of crisis it is easy to identify. As the pandemic has spread fear, disease and death, national leaders across the globe have been severely tested. Some have fallen short, sometimes dismally, but there are also those leaders who have risen to the moment, demonstrating resolve, courage, empathy, respect for science and…
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ISLAMABAD: Minister for Planning, Development and Special Initiatives Asad Umar on Monday said Karachi city would receive additional 1400MW electricity by 2023.He said this while chairing a special meeting here to review the future electricity demand-supply outlook of Karachi.The meeting deliberated upon the possible measures to supply additional electricity to Karachi through the national grid to meet the future requirements.…
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Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas, Rystad Energy estimates. While some of these planned divestments were announced before the Covid-19-related oil price crash, more were added in reaction to the pandemic and its aftermath. Our…
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