The banks’ credit to the private sector jumped 12% to a total of Rs6.82 trillion in the previous fiscal year (FY21), as a number of sectors- including those which got government’s support and those that played a key role in turning the economy around- borrowed more during the year. The credit increased by Rs741 billion from FY20’s level of Rs6.08…
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President SAARC chamber of commerce and Industry Iftikhar Ali Malik Sunday said that a stronger private sector could help Pakistan realise its economic potential. Talking to a 20-member traders delegation led by Zafar Bakhtawari Secretary General United Business Group in the federation of Pakistan Chamber of Commerce and Industry here, he said that only private sector plays key role in…
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Now at 375 Bcf/d, the reality of the world’s energy situation is that natural gas demand is set to grow substantially in the years ahead. Any serious low-carbon outlook has gas as a foundational resource. Experts at McKinsey model “resilient” gas demand through 2050, even in an accelerated transition scenario to meet climate change goals. The world is simply too…
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Russia plans to build its first batch of icebreakers that are powered by liquified natural gas, a top official said on Friday, returning to an idea that was put on hold. Russia has the world’s only fleet of nuclear-powered icebreakers. It is building up that fleet, hoping to develop the Northern Sea Route across its northern flank into an international…
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The U.S. UK and other countries want world governments to commit to a phaseout of the use and financing of coal-fired power generation, but officials who met at the G20 Environment Ministers Meeting summit in Naples, Italy, this past week ended their talks without an agreement on the future of the fuel. The topic will come up again at the…
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After an epic, pandemic-induced crash in 2020, the U.S. stock market has gone back to winning ways and is enjoying yet another bumper season in the current year. The S&P 500 is already up 16.0% in the year-to-date and constantly taking out fresh all-time highs. Few sectors of the market have, however, done better than the long-suffering energy sector. After…
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Byco Petroleum Pakistan Limited, Pakistan’s largest oil refining company, has won two awards in the categories of ‘The Foundations of Process Safety’ and ‘Oil Spill Management’ at the prestigious 7th International Awards on Environment, Health & Safety 2021.The awards were received by Mushtaq Ahmad Khokhar, General Manager- Production, Byco Petroleum andKaleem Ishaque, Senior Manager- SPM Operations, Byco Petroleum at a…
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Active participation of the masses in the ongoing monsoon tree plantation campaign is the need of the hour to overcome the challenges of climate change, environmental pollution and global warming. This was stated by Chakwal District Range Officer (DRO) of the Forest Department (Extention) Punjab Rawalpindi Division Sher Afzal Raja while planting saplings at different places along with the officers…
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Pakistan has reported 3,752 coronavirus cases during the last 24 hours, taking the national positivity rate to a whopping 7.51 per cent as the country battles a fourth wave of the pandemic. According to the National Command and Operation Centre, this is the highest number of cases reported since May 21 when 4,007 infections were reported, and a dramatic overnight…
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The National Transmission and Dispatch Company (NTDC) has failed to recover Rs714 million from an Iranian firm despite the award announced by the Paris-based International Chamber of Commerce (ICC) in April last year, Dawn learnt on Saturday. “A severe lack of on-time decision making, politics, appointment of a permanent MD, resignation of competent officers and other administrative issues are the…
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