Such is the strategic importance attached to rare earths that President Xi Jinping has made it a habit to flex China’s Trade Muscle by visiting to Rare Earths Hub, mining sites and plants frequently. (Twitter)“Rare Earth Elements (REE) are an ace in China’s hand”, read a Global Times headline in 2019. China currently controls nearly 90 per cent of the…
Read MoreYear: 2021
Honda plants new seeds for green Pakistan
Honda Atlas Cars is at the forefront when it comes to taking initiatives that are built to create a lasting impression on the environment. We are an environment-friendly brand and it is our dream to leave minimal footprint while making cars that are truly magnificent.Our cars are built to reduce carbon emissions with the entire Honda line up coming equipped…
Read MoreNew record of planting 100,000 saplings set in Faisalabad
The district administration set a new record of planting 100,000 saplings in one go in the district on Friday. A tree plantation ceremony was held at Kaleem Shaheed Park, Narwala Road, in which 8,000 students of different government schools and 2,000 students of colleges planted 20,000 saplings in the park in tehsil city Faisalabad. During the same time, 16,000 saplings…
Read MoreLNG crisis brewing?
The LNG spot rates are hovering around $16/mmbtu. The Pakistan LNG Limited (PLL) has received bids for October and November deliveries at an average of $19.92/mmbtu and $19.39/mmbtu, respectively. For context, the average LNG spot price for PLL cargoes in October and November last year was $5.38/mmbtu. The PLL is yet to issue final evaluation report for the tenders floated…
Read MoreGovt devises strategy to ensure affordable energy by 2030
The government has devised a concrete strategy to ensure access to affordable, reliable, sustainable and indigenous electricity for all by 2030. According to the three-year performance report of the government released on Thursday, it inherited multiple challenges in the power sector, including system constraints, fast rising circular debt, inefficiencies driven by corruption, theft, growing burden of tariff non-rationalisation and the…
Read MorePakistan anticipates rise in cement exports to Afghanistan
On 15 August the Taliban took over Kabul and declared their rule over Afghanistan. Taliban spokesperson Zabihullah Mujahid said at his first press conference that the Taliban would continue trading with neighbouring countries and steps would be taken to promote trade. Business people and traders in Pakistan widely welcomed the announcement and the Pakistan stock exchange (PSX) and the country’s…
Read MoreTechnical talks on $3 billion PSGP project conclude
The three-day technical talks between Pakistan and Russia on the Pakistan Stream Gas Pipeline (PSGP) project to be laid down from Karachi to Kasur ended here on Thursday with Moscow seeking clarity if the government owns or disowns the viewpoint of Special Assistant to Prime Minister (SAPM) on Petroleum Tabish Gauhar, opposing the two countries’ flagship project mentioned in his…
Read MorePakistan, Russia to finish PGSP on time
Pakistan and Russia on Thursday agreed to follow the timelines laid down to successfully implement the Pakistan Gas Stream Pipeline project. According to a statement, the scheme has made a significant headway at the conclusion of first technical session parleys between the two sides. The technical session was held in Islamabad from August 24-26, 2021. The Russian delegation was led…
Read MoreBig names involved in oil crisis
The Federal Investigation Agency (FIA) has informed the Cabinet Committee on Energy (CCOE) that big fish were involved in the June 2020 oil crisis that were putting pressure on the agency. However, FIA officials said that Prime Minister Imran Khan had given the agency a free hand to catch the parties involved in the oil crisis. The country had faced…
Read MoreMari Petroleum’s profit rises 3.7% to Rs31b
Mari Petroleum’s profit after tax inched up 3.73% to Rs31.4 billion in the year ended June 30, 2021 owing to a significant decline in exploration and prospecting expenditure. According to a notice sent to the Pakistan Stock Exchange (PSX) on Thursday, the company had posted profit after tax of Rs30.3 billion in fiscal year 2019-20. Earnings per share of the…
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