Prime Minister Imran Khan while remarking on (the United Nations Development Programme’s) UNDP’s Pakistan National Human Development Report stated it is time for a new International Monetary Fund (IMF) package given the economic disruptions ahead due to a “very scary” third wave of Covid-19. These sentiments, be they coincidental or by design, mirror the sentiments expressed in a report titled…
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As a nation, Pakistan reigns as master of its potential yet buckles in the face of prevailing challenges. The country is confronted by uncertain geo-political realities. It shares borders with nations that are home to the second- and third-largest defence budgets globally, while the world’s lone superpower and biggest military spender retains key interests in the region. Closer to home,…
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The Oil and Gas Regulatory Authority (OGRA) has Wednesday announced a revision in the imported LNG prices for the month of April hiking $0.17 for the Sui Northern system and $0.16 for the Southern, ARY News reported. For the month of April, Sui Northern Gas Pipelines Limited (SNGPL) shall sell the imported gas against $9.763 per unit, according to the…
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In the last 9 months, the national flag carrier – the Pakistan International Airlines (PIA) – has suffered a loss of over Rs19billion on account of a ban imposed on its flight operation by the European Union (EU) primarily due to the negligence of the Civil Aviation Authority (CAA). Sources in the PIA said the airline has to incur a…
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We may not know much about when it will be safe to resume traveling internationally, or how soon after that countries will begin to lift travel restrictions. What we do know is that travel will be fundamentally different on the other side. Airlines, airports, cruise lines, and hotels will all need to develop and adhere to new guidelines about social…
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Another 64 paisas per unit gets added to the monthly Fuel Charges Adjustment (FCA) for February 2021. This takes the average monthly adjustment in FY21 so far to 82 paisas per unit, of Rs1 per unit sought originally. February is historically the month with lowest electricity demand, and invariably the month with least economic merit order violations. Low power demand,…
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ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday directed the power division to deliberate further and present options for cost optimisation regarding pension liabilities of surplus employees of closed power plants. Power division presented a summary for a one-time grant to power generation companies for onward payment to distribution companies regarding the actuarial value of pension and…
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ISLAMABAD: After the NAB letter to the Power Division which says the government has the full authority to execute its revised deals with IPPs, the top bureaucracy of both the power and finance divisions is not ready to implement the altered contracts, arguing the anti-graft body didn’t so far validate the process of negotiations and agreements inked with the IPPs.…
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Sindh Industries and Commerce Minister Jam Ikramullah Dharejo has deplored the federal government’s decision to ban the supply of gas to Sindh’s industries and termed it a prejudiced move. “We strongly condemn the Centre’s biased attitude,” he said while speaking to the media in Hyderabad on Wednesday. He reiterated that Sindh accounts for 70 per cent of Pakistan’s total gas…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday notified about 64 paisa per unit increase in electricity rates for ex-Wapda distribution companies (Discos) to generate about Rs4.4 billion additional revenue for the troubled power sector. The increase was allowed on account of monthly fuel cost adjustment (FCA) for electricity consumed in February. This would be charged to consumers…
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