When the U.S. invaded Afghanistan in 2001, the global economy looked a lot different: Tesla Inc. wasn’t a company, the iPhone didn’t exist and artificial intelligence was best known as a Steven Spielberg film. Now all three are at the cutting edge of a modern economy driven by advancements in high-tech chips and large-capacity batteries that are made with a…
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And the failure of the government in retaining the new FSRU will also cause maximum gas loadshedding in the winter season as it will not be able to use the additional capacity of 180mmcfd of FSRU Sequoia, said a senior official who attended the meeting held on August 19 in Islamabad on utilization of additional capacity available at both LNG…
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Information Minister Fawad Chaudhry said on Tuesday that the Tehreek-i-Taliban Pakistan (TTP) has been left in a state of “disarray” after Indian funding for the militant organisation had halted. “We should be satisfied to know with regards to the TTP that for the first time the process of Indian funding [to them] — which had been going on for a…
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National Electric Power Regulatory Authority (Nepra) on Monday opposed privatisation of power Distribution Companies (Discos), suggesting that the companies should be run on the mode of Public Private Partnership (PPP). “The current system of Discos cannot work in the long run. Nepra is not satisfied with the performance of Discos but according to my personal opinion their complete privatisation is…
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Pakistan has decided to increase import of electricity to 70MW from Iran to meet the needs of Gwadar even though an earlier plan to import additional electricity hit a snag due to US sanctions. Pakistan and China are developing Gwadar Port under the China-Pakistan Economic Corridor (CPEC) and the latter is also setting up a 300MW coalfired power plant. Pakistan…
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A cabinet body on Monday deferred approval of a World Bank dictated new power generation capacity plan after governments of Khyber-Pakhtunkhwa (K-P) and Punjab raised issues of adverse impact of the plan on relations with China and economic growth. The meeting of the Cabinet Committee on Energy (CCOE) had been called to give approval of the Indicative Generation Capacity…
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The Taliban now hold the keys to an untouched trillion-dollar trove of minerals including some that could power the world’s transition to renewable energies, but Afghanistan has long struggled to tap its vast deposits. The Taliban are already in a financial bind since they returned to power 20 years after their ouster, as major aid donors halted their support for…
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During his speech, Raisi said one of his priorities will be to export more added-value refined oil products. Iran produced 2.52 million b/d in July, its highest since April 2019, according to the latest S&P Global Platts survey. Despite US sanctions that are intended to heavily penalize buyers of Iranian oil, China’s independent refineries have maintained some level of Iranian…
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WFor the longest time, Pakistani banks have come under fire for being rent-seeking organisations that do nothing but park the public’s money in risk-free government securities. That is well-evidenced by the investment-to-deposits ratio consistently staying well above 60 per cent, and clocking in at 75pc in July. This government borrowing in turn leads to crowding out of the private sector,…
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The government has sought the National Accountability Bureau’s green light to utilise the 330 mmcfd spare capacity available at both the LNG terminals’ FSRUs (Floating Storage Regasification Units) to avoid gas load-shedding in the winter season. Well-informed sources told The News that the Petroleum Division had written a letter to the NAB in this regard. The NAB is currently investigating…
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