THE ongoing pandemic busted the myth of invincibility of human advancement, and humbled even the most arrogant of nations. Covid-19 exposed the systemic weaknesses and reminded that nature punishes complacency rather ruthlessly. It dragged the spotlight on some away-from-the-mainstream subjects, like, say, intellectual property rights (IPRs). The health crisis that rattled the world order actually exposed the perils of power…
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Mari petroleum hosted an impressive light and sound show, projecting the struggles and contributions of our founders for creation of an independent state, Pakistan’s rich history, progression over the years, vibrant culture and a tribute to the heroes of Pakistan. Pride of performance award holder, Sahir Ali Bagga paid tribute to our forefathers, with his melodious songs. MD/CEO Mari Petroleum…
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Pakistan has finally got the opportunity to look towards its economic development after facing internal and external security turmoil during last few decades. It is willing to prioritize economic security and leverage it to protect the national interests. The shift from geo-political confrontation to geo-economic cooperation was proposed by National Security Adviser, Moeen Yousuf. Foreign Minister Shah Mehmood Qureshi has…
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The US petroleum consumption declined to 18.1 million barrels per day (bpd) last year, the lowest level in 25 years, the Energy Information Administration (EIA) has said. Petroleum consumption in the transportation sector plunged by a record-breaking 15% in 2020 compared to a year earlier. Oil consumption declined in every single energy-consuming sector, the EIA said in new estimates of…
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The World Bank has, reportedly, conveyed its serious reservations to the top government authorities for not honouring their commitment regarding increase in electricity tariff as per the February 2021 agreement, and seeking a new deadline for a hike in base tariff, well-informed sources told Business Recorder. The PTI government, sources said, has increased electricity tariff by 40 per cent since…
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Special Assistant to Prime Minister on Power and Petroleum Tabish Gauhar has decided to squeeze his role up to giving his advice as a technocrat to the government for policy level decisions and energy sector reforms. He also started avoiding attending crucial meetings held on the operational level. According to the top sources at the Energy Ministry, Tabish Gauhar, if…
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The debate on premature de-industrialisation in developing economies hinges on the premise that open trade, elimination of protective tariffs and withdrawal of subsidies are harmful for local industries. In the case of auto policy, the proponents of this debate devised import substitution policies, which led to the deletion programme. Thus, while it helped local auto parts industry to develop, it…
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Trump rolled that back to 1.5 pc per year and added another year to the rules. Biden’s plan requires 10pc emissions reductions in 2023 and 5pc every year after that through 2026. Trump’s standards ended with the fleet averaging about 29 miles per gallon (mpg) in real-world driving. The Biden rule should be close to the Obama mileage requirement, about…
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The Oil and Gas Regulatory Authority (Ogra) has urged the public representatives and government to come up with policy guidelines for competition-based development and expansion of national grid and new residential gas connection in view of the expiry of monopoly of the two gas companies — Sui Northern Gas Pipelines Limited and Sui Southern Gas Company Limited. “Please be advised…
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France’s top administrative court has fined the government a record sum for failing to reduce air pollution to acceptable levels. The Council of State on Wednesday slapped its highest fine ever, 10 million euros, on President Emmanuel Macron’s government, warning it would do so again within months if the authorities fail to act quickly to combat smog. Announcing the record…
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