China can help in resolving the energy issues being faced by Pakistan and can provide muchdesired relief to the industrial, commercial and domestic sectors of the country, remarked Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President SM Naveed. Speaking at the inauguration ceremony of Offline/ Online Pakistan China Industrial Expo 2020 on Friday, Naveed appreciated the Chinese businessmen working…
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The government has announced an incentive package for industrial consumers of electricity with the aim of reducing the cost of production and thus increasing industrial output, employment and exports. The industry has generally hailed it, although some suggestions for improvement have been made, and contradictions of small and medium enterprises (SMEs) vs large industries have surfaced, especially in the steel…
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Amid nascent positive economic signs in selective areas, a lag in the implementation of a few supportive initiatives by the government continues to create uncertainties among market players. On the positive side, large-scale manufacturing (LSM) has posted 4.8 per cent growth in the first quarter (July-September) of the current fiscal year. This is driven by textile, mineral and food sectors…
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The decision was announced by the Ministry of Finance on the recommendations of the Oil and Gas Regulatory Authority (Ogra). According to the decision, the ex-depot price of petrol will come down to Rs100.69 per litre from Rs102.40 — a reduction of Rs1.71 per liter or 1.67pc. The product is mostly used in private transport, small vehicles and two-wheelers. Likewise,…
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Not too far from the besieged government, bright stars of the private sector are carefully preparing to dig their heels deeper in the business landscape of Pakistan. In the midst of a historic health crisis, besides negotiating mounting political, economic and diplomatic pressures, Prime Minister Imran Khan’s government is struggling to deal with the embarrassment and hefty fine in a…
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ISLAMABAD: Pakistan will be having a mammoth monetary benefit of Rs10-11 trillion in the next 25-30 years time, once the PTI government succeeds to get the Power Purchase Agreements (PPAs), having capacity to generate 22,000 MW of electricity, amended with material changes in consultation with the IPPs. So far, the government has signed MoUs with 53 IPPs, which will yield…
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The federal cabinet was briefed that over 2 trillion rupee subsidies, amounting to 4.5 percent of Gross Domestic Product (GDP), were budgeted for the current year. This amount includes grants to different sectors as well as potential losses on account of the energy sector circular debt (estimated at 2.3 trillion rupees at last count), guarantees and non-productive loans. The budget…
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When it broke earlier this year the ongoing pandemic was thought to stall the ongoing changes in global relations. Some people were hoping that the China’s march towards a leading role in international economy and politics as well as the newly evolving alliance between Russia and China would not be sustainable. But reality was different, the contrast between the dismal…
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A new World Bank study launched today suggests that Pakistan should quickly implement a major scale-up of solar and wind generation. The Variable Renewable Energy (VRE) Integration and Planning Study finds that Pakistan needs to urgently implement a major expansion of solar and wind (“variable renewable energy”, or VRE), to achieve a share of at least 30% of total capacity by 2030.…
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The Council of Common Interests (CCI) on Wednesday unanimously approved a project to costing around Rs350 billion curb malnutrition-induced stunting in the country. The project, “Tackling Malnutrition-Induced Stunting in Pakistan”, is spread over a span of five years (FY 2020-25). The participants of the 43rd meeting of the CCI, chaired by Prime Minister Imran Khan and attended by the chief…
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