Asia Free Trade Deal Widens Oil Supply Channels To China

The Regional Comprehensive Economic Partnership that 15 Asian nations signed last month will place South Korea and Japan in a more favorable position as oil product suppliers to China, Bloomberg has reported, noting the pact will lead to a gradual reduction in import tariffs between signatories. Thanks to their proximity to the world’s largest importer of oil, Japan and South Korea are likely to gain market share at the expense of Singapore and Malaysia, which are further from China. China imported some $12 billion worth of oil products, including light-cycle…

Read More

Five decades after Mangla and Tarbela, Pakistan will have two big dams: PM Imran

Prime Minister Imran Khan on Tuesday said the country will soon have two new big dams, five decades after construction of Tarbela and Mangla dams. The premier posted a video of the under-construction Mohmand dam on his official Twitter account. The video showed the progress of construction and various side projects. “After Mangla & Tarbela, five decades later Pakistan is going to have two big water dams, Mohmand and Basha.” Mohmand Dam will generate 800 megawatts of hydroelectricity, irrigate over 16,000 acres of land and heavily contribute to the socio-economic uplift…

Read More

The dispiriting sameness of change

The government continues to struggle with ensuring a seamless supply chain for imported liquefied natural gas (LNG) for the third winter in a row. The Petroleum Division is again under fire this year for delaying LNG import orders resulting in higher prices. This caused a loss to the exchequer and made gas less affordable to consumers. While the peak winter season is still weeks away, complaints about gas shortages and low pressure have become widespread particularly in Punjab. But such grumblings have become almost a routine owing to continuously expanding…

Read More

Pakistan will have 30pc electric vehicles by 2030

UNITED NATIONS: Pakistan has informed the international community that it’s working on a plan to ensure that by 2030 at least 30 per cent of the vehicles used in the country are electronic. Along with Denmark and Norway, Pakistan co-chairs a 32-nation Group of Friends on Sustainable Energy, which is committed to a transition from fossil fuel to renewable energy. Pakistan is also a member of the Group of Friends on Climate Change, which is also committed to promoting the use of safe, renewable energy. Speaking at a virtual meeting…

Read More

State subsidy: energy sector in Pakistan – II

As Chairman FBR I was handling the issue of withdrawal of zero rating for sales tax on five export-oriented sectors it was then that I realized that price of electricity and subsidy thereon for industries is more important than many other things. I was not able to quantify, however, it was quite clear that a subsidy is warranted for such sectors. This leads me to the question of cost competitiveness of our export-oriented sectors. The issues that were discussed were tariffs in Lahore vs Karachi and many other such allied…

Read More

Deteriorating human condition a tremendous burden for world politics to take on: Noam Chomsky

Avram Noam Chomsky, an internationally recognised linguist, philosopher, social critic and political activist, delivered an online lecture titled ‘Bullet Dodged or Merely Delayed: Reflections on the Future of Democracy, Nuclear Proliferation and the Looming Environmental Catastrophe in a Post-Trumpian World’ on Monday. The lecture was part of the Habib University’s flagship Yohsin Lecture Series. Prof Chomsky discussed the recent outcome of the US presidential elections, as well as the escalated nuclear threat, fading democracy and environmental catastrophe the world is facing today. He contextualised his lecture in relation to the…

Read More

Countrywide lockdown last option to save lives if politicians, citizens continue flouting SOPs

Bitterly criticising the federal and provincial governments, as well as political parties, for their failure to implement the coronavirus-related standard operating procedures (SOPs) in the country, health experts on Monday, claimed no space was left at intensive care units (ICUs) and high dependency units (HDUs) of leading public and private health facilities in Karachi as the number of coronavirus patients requiring hospitalisation is constantly on the rise. They said only a countrywide lockdown with stricter measures would be left as the last option to save the lives if the political…

Read More

Tharis learning to save livestock from emerging challenges of climate change

HYDERABAD: Thar and Kohistan, the main arid regions of Sindh, are witnessing devastating impacts of climate change in terms of depleted underground water and shrinking vegetation cover, the main natural resources for the local communities. Reports revealed that a cycle of severe droughts followed by heavy rain floods continued to erode livelihoods of hundreds of thousands of rural people in Thar Desert, comprising Tharparkar and parts of Umerkot districts. These communities depend solely on seasonal rain-fed agriculture and livestock rearing. Farmers in the region remain uncertain about the situation. They…

Read More

UK announces ‘ambitious’ plan to cut greenhouse gas emissions by 68%

The U.K. government will target an emissions cut of at least 68% by the year 2030, compared to 1990 levels, under plans announced Thursday. The new goal to reduce greenhouse gas emissions comes before a Climate Ambition Summit on Dec. 12 which the U.K. will co-host. In a statement, the U.K.’s Prime Minister Boris Johnson described the new target as “ambitious,” while Business and Energy Secretary Alok Sharma said it reflected “the urgency and scale of the challenge our planet faces.” The target is known as a Nationally Determined Contribution,…

Read More

Italy’s Eni to buy 20% stake in world’s largest offshore wind farm

Italian energy firm Eni is taking a 20% stake in what is set to be the world’s largest offshore wind farm. The energy firms Equinor and SSE are both selling 10% stakes in the first two phases of the project, which is situated off the U.K. coast. Eni will now take a share of Dogger Bank A & B, which will have a combined capacity of 2.4 gigawatts when fully operational. Upon completion of the deal, Equinor and SSE’s share in Dogger Bank A & B will still amount to…

Read More