As oil marketing companies (OMCs) have refused to bear operational losses in the transportation of petrol through a pipeline, the government is likely to pass on these losses to the oil consumers. High-speed diesel and petrol are among the widely used fuels in the country, with diesel being utilised by the transport and agriculture sectors. The main source of transportation…
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Karachi: The National Forum for Environment and Health (NFEH) has demanded the federal and provincial governments to adopt the tree plantation drive in the country as an integral part of the national agenda while setting aside all their mutual political differences.The NFEH President, Naeem Qureshi, stated this in a press statement issued on Wednesday on the eve of Earth Day…
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Independent Power Producer (IPP) PakGen Power Limited and the Central Power Purchasing Agency (Guarantee) Limited have signed the “PPA Amendment Agreement”. The government and around two-dozen IPPs are said to have initialled the agreements. PakGen Power Limited, a public listed company, informed this to Pakistan Stock Exchange (PSX) on Tuesday. Different arbitration disputes have been resolved through the signing of…
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Pakistan on Tuesday shared with the World Bank a revised outline of the Circular Debt Management Plan that seeks rationalisation of taxes, negotiated takeover of old independent power plants (IPPs) and closure of all old public sector plants to increase electricity tariffs, but slightly lower than that committed with the lenders under the IMF programme. This was the takeaway of…
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Someone must have been telling lies about Joseph K., for without having done anything wrong he was arrested one fine morning.” Thus begins Franz Kafka’s novel The Trial, one of the most important works of European literature. There are days when the Byco management and shareholders must find themselves relating well with the tribulations of the fictional Joseph K. In recent…
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While speaking at the 6th International Forum on Carbon Capture, Uses and, Sequestration, Jia YuanPei, a spokesperson for CHNG, noted that the international community, including Pakistan and China, has faced serious challenges due to the climate change resulting from carbon emissions from coal-fired power plants in recent years. However, Jia added, Sahiwal Coal Power Plant has joined the ranks of…
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The oil market continues to surprise, with WTI apparently firmly above $60, a level that could be equated with the pre-pandemic norm (as norm as any oil price can be, which admittedly isn’t very). Considering the global economy remains fragile with numerous areas still suffering badly from the pandemic, including Europe, source of 15% of world oil demand (in normal…
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COVID-19 restrictions together with unexpected weather events such as hurricanes and severe cold winters slashed the gas and LNG demand in China. In a poll Verdict conducted to analyse the biggest concerns for China’s gas and LNG sector in 2021, a majority 35% responded that slower growth of gas demand to be the biggest concern. While 25% of the respondents…
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The volume of investments in Azerbaijan’s oil and gas sector decreased by 6.2 percent in January-March 2021, the State Statistics Committee has reported. Investments in the non-oil and gas sector also declined by 32.2 percent in the reported period. Some AZN 2.3 billion ($1.3bn) was directed to fixed capital in the first quarter of the year, which is by 19.4…
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Pakistan has not yet made any formal request to the IMF for re-negotiating conditions of the IMF programme or extending the time-frame beyond September 2022 under the $6 billion Extended Fund Facility (EFF). The IMF’s Resident Chief in Pakistan, Teresa Daban Sanchez, stated this during a webinar organized by the Pakistan Institute of Development Economics here on Monday. The IMF…
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