ISLAMABAD: The Trade and Development Report 2020 (TDR2020) on Tuesday warned that the Covid-19 recesion — measured in terms of world gross product — will likely amount to a $12 trillion loss in global income by end of 2021. Moreover, the growth recovery in 2021 will coincide with rising unemployment, which is likely to reach double digits in some advanced economies, says…
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The Ministry of Climate Change has launched the Consortium to undertake Third Party Monitoring for its flagship Ten Billion Tree Tsunami Programme (TBTTP). The Government of Pakistan has mandated the Consortium which consists of IUCN, FAO and WWF to conduct the Third Party Monitoring and Evaluation of TBTTP from 2020 to 2024 in Pakistan. During media briefing Malik Amin Aslam,…
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ISLAMABAD: The PTI government has decided to increase the salary of Ogra chairman (who is yet to be appointed) by 150 percent to Rs15,00,000 per month from Rs600,000 the ex-chairman had. The members of Ogra that regulates the oil and gas sector of worth $20 billion will be discouraged with huge disparity in salary structure between Ogra members and its…
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KARACHI: A public hearing of the National Electric and Power Regulatory Authority (Nepra) seeking amendment to K-Electric’s licence was marred on Monday as public representatives and political leaders demanded that the federal government allow more power supply companies to operate in Karachi, while the city’s lone power utility termed the move to end its exclusivity “violation” of the agreement. Participants,…
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ISLAMABAD: As the government struggles to translate memorandums of understanding (MOUs) signed with the Independent Power Producers (IPPs) of thermal and renewable power plants for tariff discounts into contracts, sponsors of hydropower power plants (HPPs) have declined to revise old agreements with the government. A senior government official told Dawn that sponsors of HPPs had three to four sessions with the IPPs negotiations committee…
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The Vice Presidency for Projects and Engineering Studies, His Excellency Eng. Sultan bin Ati Al Qurashi inspected the functioning of the strategic water reservoir feeding the Grand Mosque and its facilities, and was accompanied by the Assistant Director General of Projects. Al-Qurashi stated that this reservoir is considered one of the most important strategic projects in infrastructure services for the…
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The world’s first Very Large Containership fueled by LNG left the shipyard of Hyundai Samho Heavy Industries earlier this month to be delivered to Singapore’s Eastern Pacific Shipping, one of the world’s biggest ship owners. This is just the crest of what could become a wave of LNG-powered ships in the future. One big event this year that got lost in the noise…
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ISLAMABAD: The K-Electric (KE) remained under attack on Thursday from consumers and the power regulator for prolonged load shedding in many parts of Karachi on the second day of public hearing on its request for Rs1.54 per unit increase in its electricity sale rates. The National Electric Power Regulatory Authority (Nepra) reserved the judgement and asked the power utility company…
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ISLAMABAD: Special Assistant to Prime Minister (SAPM) on Petroleum Nadeem Babar on Friday met with Turkmen delegation to discuss progress on the Turkmenistan-Afghanistan-Pakistan-India (Tapi) pipeline. Babar met with the visiting delegation, headed by Tapi Pipeline Company Ltd CEO Muhammetmyrat Amanov, which was also attending by Turkmen Ambassador to Pakistan Atadjan Movlamov, a news release said. Secretary Petroleum, Managing Director Inter…
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ISLAMABAD: Amid strong protest by the petroleum division and its corporate entities, the Cabinet Committee on Energy (CCoE) on Friday decided to exempt three Punjab-based power plants of 3,900mw from compulsory purchases of liquefied natural gas (LNG) quantities from January 2022. The move to change gas supply agreements (GSAs) of these government-owned power plants (GPPs) reportedly originated at the request…
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