The federal government has allowed the incumbent chief executive officer (CEO) of GENCO Holding Company Limited (GHCL), Muhammad Imran, to continue working on his post for a period of twelve months based on this satisfactory performance. Moreover, the managing director of the Private Power and Infrastructure Board (PPIB), Shah Jahan Mirza, has been allowed to continue working as CEO of…
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ISLAMABAD: The budget-making process for 2021-22 has kick-started as the Ministry of Finance has shared Indicative Budget Ceiling (IBC) with the Ministry of Planning for allocation of Rs800 billion for Public Sector Development Programme (PSDP) in the next budget 2021-22. “Yes, the Ministry of Finance has shared the IBC for allocation of development funds under the PSDP to the tune…
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Japan has publicly pledged its support for overseas LNG project finance as it sees LNG as a transitional energy source that can supplement renewables and help replace coal in its efforts towards 2050 carbon neutrality goals, just days ahead of the climate change summit to be hosted by US President Joe Biden. State-owned Japan Oil, Gas and Metals National Corporation…
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The Irving oil major warned, however, that developing a so-called Houston CCS Innovation Zone — billed as the biggest carbon sequestration project in the world — would require a public-private partnership and government funding. “We believe the time is right for a large-scale collaboration in the United States between government at every level, private industry, academia and local communities to…
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Libya declared force majeure on exports from the port of Hariga and said it could extend the measure to other facilities, citing a budget dispute. Hariga is scheduled to load about 180,000 barrels per day (bpd) in April. Brent crude was up 35 cents, or 0.5%, at $67.40 a barrel by 1335 GMT after hitting its highest since March 18…
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The World Bank in its recent report states that Pakistan’s potential annual exports are $88.1 billion, about four times the current level. The opportunity cost of these missing exports is estimated at “893,000 jobs and $ 1.74 billion in foregone taxes alone, of which 152,000 jobs could have been created in the agriculture export sector, and 741,000 jobs could have…
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Federal Minister for Energy, Hammad Azhar has formally taken over charge of Ministry of Energy. Secretary Power Division, Ali Raza Bhutta and senior officers of the Ministry welcomed the newly appointed minister on his arrival to the Ministry. Secretary Power Division briefed the Minister about the power sector related affairs, different sections of Power Division and attached departments and organisations.…
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The government on Tuesday sought more time from the World Bank to implement its conditions for qualifying for $1.5 billion loans to meet the burgeoning external financing needs, sources told The Express Tribune. Pakistan is seeking three budget support loans, totalling $1.5 billion, from the World Bank before the end of June, they said, adding that the World Bank had…
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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 21st Apr, 2021 ) :Chairman National Electronic Power Regulatory Authority (NEPRA) along with member NEPRA Balochistan Wednesday called on Chairman Senate Muhammad Sadiq Sanjarani here at Parliament House to brief him on power supply in the province. While exchanging views on the overall energy situation in the province the Chairman Senate…
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The Cabinet has constituted a 10-member inter-ministerial committee to rationalize processes and develop cross-cutting strategies to reduce time and costs across the entire logistics chain, official sources told Business Recorder. Secretary, Maritime Affairs Division, in his presentation to the Cabinet on rationalization of port charges said that in order to appreciate the issue of the charges at the port in…
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