Federal capital’s air pollution reaches record highest, reveals the 24 hours ambient air quality report of Pakistan Environmental Protection Agency (Pak-EPA)’s on Wednesday. According to the report, increased ratio of environmental pollutants causing bad air and degraded atmosphere leading to smog. The National Environmental Quality Standards (NEQS) by EPA set a threshold of 35 microgrammes per cubic meter for particulate…
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State-owned companies are paying the price of overcoming the gas crisis in winter season, which adds billions of rupees to the circular debt due to diversion of expensive liquefied natural gas (LNG) to residential consumers without any legal framework. The provision of LNG to the domestic sector is going to hit the public gas utilities hard, as the imported gas…
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December 2021
Read MorePakistan and the Asian Development Bank (ADB) will sign six financing loan agreements worth $1.535 billion on Wednesday (today), it is learnt. Official sources revealed to Business Recorder that Minister for Economic Affairs Omar Ayub Khan will witness the loan-signing ceremony. Documents revealed that the Economic Affairs Division (EAD) and the ADB will sign loan agreement worth $600 million for…
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The record production over the last 2.5 years has resulted in the generation of over 10,000GWhs of electricity, contributing to the national grid. Besides, the company’s record production of coal and generation of electricity using Thar’s local reserves has benefitted the national economy by saving $210 million through import substitution during the same period. SECMC has maintained a stellar safety…
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To appreciate the significance of a nuclear deal revival for Iran, one need only cast a cursory glance at the grave economic, foreign-policy, security, and environmental crises plaguing the country today. Without a functioning deal that keeps U.S. sanctions lifted, if only for a few years, no Iranian government can hope to adequately respond to most—if not all—of these challenges.…
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Power Division has assigned look after charge of CEO, CPPA-G to Chief Financial Officer (CFO) Rihan Akhtar, till the joining of acting CEO, who is on medical leave. The Central Power Purchasing Agency (Guarantee) Limited is a Public Sector Company, working under the administrative control of the Division and registered as the Market Operator in terms of rule 5 of…
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Amid continued promises and claims for good omen, foreign direct investment landscape in Pakistan has been lackluster. While net FDI in 5MFY22 has increased by 12 percent year-on-year, the total tally of around $800 million is trivial. Total FDI inflows in 5MFY22 as per SBP’s recent data is actually down by over 9 percent year-on-year. Though FDI in Nov-21 turned…
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Natural gas prices see-sawed Tuesday as traders weighed modest near-term domestic heating needs against an anticipated freeze early next month and surging demand for U.S. liquefied natural gas (LNG). Ultimately, the latter factors carried the day, and the January Nymex gas futures contract advanced 3.5 cents and settled at $3.869. February gained 1.6 cents to $3.774. At A Glance: U.S.…
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The Ministry of Energy has said that Karachi is facing acute shortage of gas as the freezing cold in Quetta in the current winter season requires an increase in gas supply. A ministry representative made the remarks when the Standing Committee on Energy (Petroleum Division) asked about the worsening gas shortage and increase in petroleum product prices in the country.…
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