Liquefied natural gas (LNG) prices face a quick return to recent record highs as cold weather approaches the Northern Hemisphere and surging power demand and depleted gas storage heightens the global energy crunch, particularly in Europe. This year’s power price shock has seen several domestic energy suppliers go out of business, while heavy industry curtailed output in energy-intensive sectors. Consumers…
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The 5th Joint Technical Committee Meeting of the Pak Stream Gas Pipeline Project was held in Islamabad from 16th-18th November, 2021. The respective delegations held extensive consultations over the course of these discussions. The parties have expressed satisfaction over ironing out major outstanding issues in the Share Holders Agreement. The talks were held in an amicable environment that was characterised…
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A man died, and five children and two women were injured in an explosion on Wednesday morning that took place at a multi-storey residential building in the Lyari area of Karachi. The explosion took place at the sixth floor of the building located in Liaquat Ashraf Colony in the Lyari neighbourhood within the limits of the Kalri police station. As…
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A mysterious disease similar to dengue fever is spreading fast in the city. The disease caused by mosquito bite tests negative for malaria, dengue and other vector borne diseases. Patients, including adults as well as children, with dengue fever like symptoms such as headache and high fever, are coming to various public and private hospitals, healthcare experts said. Infected patients…
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The Petroleum Differential Claim (PDC) lasted four days, before the government rushed to increase prices. Come November 16, 2021, normal services seem to have resumed, as the authorities continue to be pressed in the wake of high global crude oil price. This time around, another first was recorded, as GST on gasoline, came down to nothing, for the first time…
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Progress doesn’t follow a straight line. The outcomes from most-recent United Nations Climate Change Conference in Glasgow – dubbed as COP26 – have disappointed climate activists. The climate change issue is a major, era-defining test of the multilateral system that has been in place for many decades. But major powers have competing interests, which complicate reaching a consensus. What has…
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A three-day National Workshop on the Ten Billion Trees Tsunami Programme (TBTTP) was concluded today in Islamabad. The workshop was jointly organized by the Ministry of Climate Change of the Government of Pakistan, KfW and the Third Party Monitoring Consortium: IUCN Pakistan, FAO Pakistan and WWF-Pakistan with the financial assistance of the German Federal Ministry for Economic Cooperation and Development…
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Adviser to the Prime Minister on Commerce, Textile, Industry and Production Abdul Razak Dawood has said he’s “worried” the ongoing gas shortage may slow down the pace of exports’ growth in December and beyond. Speaking to journalists at the Karachi Press Club on Wednesday, Mr Dawood said industrial units, particularly in the textile industry, that have combined-cycle captive power plants…
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John Hurley, USA’s Alternative Executive Director to the Asian Development Bank (ADB) has reassured that the bank’s support to Pakistan’s reform agendas would speed up as soon as the ongoing International Monetary Fund (IMF) Review was completed. Hurley, who is on his first official visit to Pakistan, was welcomed by Federal Minister for Economic Affairs Omar Ayub Khan on Tuesday.…
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The recently approved “Phase-III Thar Coal Mine Expansion Project” may face challenges in attracting investment due to unresolved issues of the sponsors of ongoing CPEC Phase-1 projects. Till the resolution of outstanding issues, the government will find it difficult to create forward linkages for the use of coal beyond power sector, sources said. It may be noted that in October,…
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