SBP takes measures to curb undesirable foreign currency outflow State Bank of Pakistan has introduced following regulatory measures: Persons travelling to Afghanistan will be allowed to carry only USD1,000/- per person per visit Maximum annual limit of USD6,000. Exchange companies will be required to conduct biometric verification for all foreign currency sale transactions equivalent to USD500/- and above and outward…
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In an ambitious turn, Pakistan and China have agreed to develop the Karachi coast, possibly shifting away from Gwadar as the center stage of the Belt and Road project in Pakistan, following ongoing problems at the southwestern province of Balochistan. A memorandum of understanding was signed for the Karachi Coastal Comprehensive Development Zone project during the recently held 10th Joint Cooperation…
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ISTANBUL, 6 October 2021: A ‘Naming Ceremony’ was organized at SANMAR Shipyards, Istanbul today to commemorate cooperation between SANMAR Shipyards, Turkey and Port Qasim Authority (PQA), Pakistan. Under an agreement, PQA has bought 4 ASD LNG Compatible Tugs and 2 Pilot Boats from SANMAR Shipyards. This project is yet another manifestation of the growing ties between Pakistan and Turkey in…
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Bulk consumers of electricity will have the option to buy electricity on a competitive basis from any power producer of their choice from July 2022 onwards, said Tabish Gauhar, who recently stepped down as Special Assistant to the Prime Minister (SAPM) on Power and Petroleum. Addressing the members of CFA Society Pakistan on Wednesday, Mr Gauhar said the first phase…
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Pakistan’s total public debt has gone up by Rs 14.9 trillion during the current government as it increased sharply from Rs24.953 trillion by the end of FY2018 to Rs39.859 trillion till June 30, 2021. “The total public debt has gone up by Rs3.46 trillion in the last fiscal year as it went up from Rs36.399 trillion in June 2020 to…
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The world has yet to grasp the scale of the task of removing carbon emissions from the energy system, with oil demand likely to be around the 90 million b/d level by the end of this decade, or about 10% below pre-pandemic levels, TotalEnergies CEO Patrick Pouyanne said Oct. 5. Speaking at the Energy Intelligence Forum, Pouyanne, whose company was…
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The world is living through the first major energy crisis of the clean-power transition. It won’t be the last. The shortages jolting natural gas and electricity markets from the UK to China are unfolding just as demand roars back from the pandemic. But the planet has faced volatile energy markets and supply squeezes for decades. What’s different now is that…
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Tahir Basharat Cheema, former managing director of the Pakistan Electric Power Company (Pepco), has joined the All Pakistan Textile Mills Association (Aptma) as energy adviser. Cheema is a qualified engineer and also possesses a Master’s degree in Business Administration. He has worked on various positions in the Water and Power Development Authority (Wapda), besides managing the affairs of Pepco, energy…
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The government on Tuesday approved the seasonal concessional electricity package for domestic and commercial consumers for the off-peak November-February period, granting a concession of up to Rs7/unit. This concession will be available to these power consumers on the additional units of power consumed in given month over same month of the last year, according to an official handout. Minister for…
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Organised by the Dubai Electricity and Water Authority (Dewa), the event is being held under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and under the patronage of Sheikh Ahmed bin Saeed Al Maktoum, chairman of the Dubai Supreme Council of Energy and chairman of the…
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