ISLAMABAD: The Advisor to Prime Minister on Finance Abdul Hafeez Shaikh has approved plan for golden handshake to the employees of the state-owned Pakistan Steel Mills (PSM), citing sources, ARY News reported on Wednesday. The plan was approved by PM’s aide on finance Abdul Hafeez Shaikh while chairing the meeting of Economic Coordination Committee (ECC) to discuss a six-point agenda today. The…
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The former chief executive officer of K-Electric Tabish Gauhar has been appointed as the Special Assistant to Prime Minister (SAPM) Imran Khan on Power. According to a notification issued today by the Cabinet Division, said that the PM has been pleased to appoint Tabish Gauhar as Special Assistant to the Prime Minister on Power with immediate effect. The notification added…
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ISLAMABAD: The Federal Board of Revenue (FBR) has signed a memorandum of understanding (MoU) with Pakistan Sugar Mills Association (PSMA) to operationalize Video Analytics Rules, 2020, for the sugar sector. FBR Member (IR-Operations) Dr Muhammad Ashfaq Ahmed and PSMA Central President Iskandar Khan signed the MoU on behalf of their respective organizations during a ceremony held at the FBR headquarters in…
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ISLAMABAD: The government has granted zero-rated export-oriented industries special concessions in power and gas tariffs with an aim to spur exports that are stuck in a downward spiral for long, an notification said on Wednesday. Ministry of Energy (Power Division) in its notification said, for this purpose, an amount of Rs10 billion, available to petroleum division for RLNG, had been…
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KARACHI: The government needs to pause any further licencing to power projects as the country sits on surplus generation capacity due to excessive incentives announced for the independent power producers (IPPs), expert said on Wednesday. The speakers told a webinar that electricity should be dealt as a commodity, as this would transfer the risks to investors from the government. Ahsan…
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ExxonMobil is set to post its third straight loss in its upstream business this year, as lower oil demand continues to hurt oil companies’ profitability. In an SEC filing on Thursday, Exxon provided a Q3 earnings considerations update of its expectations for the third-quarter results relative to the second quarter. The U.S. supermajor is reporting Q3 financials on October 30.…
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Researchers at the University of Queensland in Australia mapped the countries and regions within them that will likely become mining hotspots as the world moves towards a low carbon future. In a paper published in the journal Nature Communications, the researchers explain that this exercise led them to conclude that such a transition is expected to lead to more mining…
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The state of Texas and its taxpayers could be on the hook for paying up to US$117 billion for the cleaning-up of abandoned wells as a growing number of U.S. oil companies go bust, and the guarantees for paying for the cleanup cover only 1 percent of estimated costs, a report by climate finance think-tank Carbon Tracker showed on Thursday.…
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Denmark cleared on Thursday the final hurdle to Nord Stream 2 potentially starting operations in Danish waters, while the U.S. continues its attempt to stop the Russia-led natural gas pipeline project. On Thursday, the Danish Energy Agency said it had granted Nord Stream 2 AG, the company behind the project, an operations permit for the Nord Stream 2 pipelines on…
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Net-zero goals cannot be met by rising renewable energy usage and wider adoption of electrification in transport alone. The world will need to reduce the emissions from existing energy systems and from heavy industries such as cement, steel, or chemicals production if it hopes to meet the ambitious climate goals and stick to the target in the Paris Agreement to…
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