ISLAMABAD: The Cabinet Committee on Energy (CCoE) has approved the Circular Debt Management Plan (CDMP) 2021 to ensure effective management of the rising debt. Planning, Development and Special Initiatives Minister Asad Umar chaired the CCOE meeting on Monday. The meeting discussed the summary of the comprehensive CDMP, which covers the three-year period from the fiscal year 2020-21 to FY2022-23, describes mechanisms…
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Gwadar port of Pakistan is a gateway to the shortest and more economical route to the landlocked Central Asian Republics (CARs). The trade from Gwadar port to CARs will reduce the distance to 50 percent as compared to the distance from Iran, and freight charges less by around 30 percent. The increased trade activities with CARs will generate more jobs,…
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ISLAMABAD: Former premier Shahid Khaqan Abbasi has told the country’s top corruption watchdog body that he and his ministry made appointments of CEOs on merit in public limited companies. Abbasi was responding to NAB’s questionnaire which sought information under Section 19 of NAO, 1999 in an inquiry against officers/officials of government who according to the bureau were illegally appointed by…
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Islamabad – The government is planning to transfer the burden of Rs 1060 billion to the power consumers during next 27 months (March 2021-June 2023) to reduce the circular debt (CD) under the Circular Debt Management Plan 2021 (CDMP-21). Under the Circular Debt Management Plan (CDMP) it is proposed that Rs 194 billion will be collected through quarterly adjustments, while…
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The global reservoir analysis market is evaluated at US$7.737 billion for the year 2020 growing at a CAGR of 4.67% reaching the market size of US$10.174 billion by the year 2026. Reservoir analysis refers to the analysis of the rocks, pores and fluids inside a reservoir to optimise their production and recovery techniques. The methods and equipment used in the…
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Despite the passage of three months, the Ministry of Maritime Affairs has failed to appoint a regular chairman of the Karachi Port Trust (KPT). With its failure to make the appointment, the ministry has once again sought an extension in the additional charge of KPT chairman given to the Ministry of Maritime Affairs secretary. The cabinet is scheduled to discuss…
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Policymakers have approved power subsidy reform measures under which subsidy for 8 million consumers will come to an end in the first phase. As part of reforms, the government will increase the ceiling for lifeline consumers from 50 units to 100 units per month. At present, 22 million electricity consumers are getting subsidy. However, it will be limited to 13.9…
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ISLAMABAD: A recently completed US government-assisted pilot project will help the Peshawar Electric Supply Company (Pesco) save Rs1.3 billion annually by overcoming the issues of theft, billing problems and power supply in the provincial capital. Under the project, the US Agency for International Development (USAID) installed 157-km anti-theft cable and 5,000 smart meters in various areas covered by Pesco, including…
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ISLAMABAD: The government on Monday decided not to increase the prices of petrol and high-speed diesel (HSD) by adjusting taxes, but increased the rates of kerosene and light diesel oil. “Despite very limited fiscal space, the government has decided that the prices of petrol and HSD will remain the same,” said the Ministry of Finance. On the other hand, it…
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LAHORE: The Gwadar GasPort Limited (GGPL) plans to invest $94.04 million in a ‘virtual pipeline’ to deliver imported liquefied natural gas (LNG) at the doorsteps of the industrial and other private sector consumers at competitive prices via cryogenic bowsers. “We hope to commission the terminal as early as October/November subject to issuance of a provisional licence from the Oil &…
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