The federal government on Wednesday gave an ex-post facto approval to a Rs29 billion road project against its own decision while also relaxing a statutory requirement for conducting feasibility study for another project. Headed by Finance Minister Shaukat Tarin, the Executive Committee of National Economic Council (Ecnec) took certain decisions, which have raised governance and prudent fiscal management related issues.…
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Sindh Minister for Energy Imtiaz Ahmed Sheikh on Wednesday said that his department, Engro Energy Limited and a group of Karachi-based industrialists would soon ink a memorandum of understanding (MoU) to establish a 400-megawatt solar-wind electricity generation power house to provide low-cost and uninterrupted power to the industrial units in Sindh, especially Karachi. In a statement, he said that the…
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The Economic Coordination Committee (ECC) that met here on Wednesday under Finance Minister Shaukat Tarin did not approve the Pakistan Refinery Policy 2021, as Asad Umar, Federal Minister for Planning and Special Initiatives, opposed it arguing that the Cabinet Committee on Energy (CCOE) was the right forum to take up refining policy. Expressing his annoyance over not being given the…
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Delay in floating tenders for import of the LNG spot cargoes and awarded contracts at higher rates by Pakistan LNG Ltd (PLL) resulted in losses of Rs10.6 billion in the financial year 2020-21. High prices of the LNG and gas shortages recently witnessed by the country is a result of poor planning for procurement of spot LNG cargoes by the…
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DW visited a hospital in Jakarta as the country recorded the highest number of daily deaths in the world. Infections have just peaked at more than 50,000 cases a day. Experts fear the real figures may be even worse than the official count. Indonesia reported more than 54,000 new coronavirus cases for the first time Wednesday, surpassing recent daily infections…
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Russia resumed flights to the Egyptian Red Sea resorts of Hurghada and Sharm el-Sheikh on Monday after a six year-ban due to a deadly plane crash. An Egyptair plane transporting 300 Russian tourists took off from Moscow to Hurghada, and was welcomed by a “water salute” upon arrival at the tourist destination. Passengers were given balloons and flowers after landing.…
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Like most car dealerships during the pandemic, Hudson Hyundai in New Jersey is selling nearly any vehicle it can acquire. But some models move faster than others. “The hybrids really go first,” said sales agent Alicia Mandona. “I have at least three customers waiting.” Hybrid cars improve fuel economy by using batteries to assist gasoline-powered engines, and their sales are…
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US oil may retest a support at $65.46 per barrel, with a good chance of breaking below this level and falling to $64.27. The contract is riding on a wave (c) from $74.23, which observes closely two sets of projection levels on the downtrend from $75.52 and the trend from $74.23. This wave is expected to travel to $62.70, as…
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Pakistan has received the third largest workers’ remittances amounting to $2.71 billion in July, the first month of current fiscal year, making the much-needed finances available to pay for increasing imports which is a must to achieve the planned higher economic growth. This was the sixth month in the past 13 months when the inflows of remittances sent home by…
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Oil and gas exploration companies in Ahdi and its nearby areas in Gujar Khan are polluting water reservoirs by draining untreated chemicals into Narali Dam. This is putting the health of residents of the area at risk, former prime minister MNA Raja Pervez Ashraf said while talking to Dawn on Tuesday. Mr Raja said Pakistan Petroleum Limited (PPL) in Ahdi…
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