The Pakistan Meteorological Department (PMD) Friday predicted another spell of extremely hot weather during next week, advising the general public to avoid unnecessary exposure to direct sunlight and to use water judiciously. The Met Office informed that high pressure is likely to grip the upper atmosphere from Sunday, due to which day temperatures are likely to increase gradually in most…
Read More
Ministry of Energy on Thursday said up to 11,650 megawatt (MW) had been added to the national grid system during the period of 2013 to 2018. About 3000 MW clean energy was added to the system during the said period, the ministry said in a statement. Out of total 3000 MW, 1350 MW hydel and 1400 MW wind and solar…
Read More
The International Monetary Fund (IMF) has asked the Pakistan government to bring the current account deficit (CAD) under control — a deficit that has ballooned to 13.16 billion dollars in the first eight months of the current fiscal year and at this rate is likely to surpass the 20 billion dollar deficit that the Khan administration inherited in 2018. Memories…
Read More
The World Bank has held the previous government and National Electric Power Regulatory Authority (Nepra) responsible for addition of more than Rs 500 billion to the Circular Debt (CD) in FY 2021-22 as many prior actions were not taken on time. “There have been delays in annual tariff rebasing and Quarterly Adjustments (QTA) which were included in five Priority Actions…
Read More
There is no way to trace whether there is Russian crude oil or how much crude from Russia will go into the refined products market globally, Shell’s chief executive Ben van Beurden said on Thursday. “We do not have systems in the world that trace back whether that particular molecule originated from a geological formation in Russia…. that doesn’t exist,”…
Read More
Germany has begun construction on its first LNG import terminal, and in the meantime, has rented four mobile floating tankers as it scrambles to rid itself of the need for Russian natural gas. Construction of the LNG import terminal has been fast-tracked, with German Economics Minister Robert Habeck hoping to complete this at “Tesla speed”, in less than a year.…
Read More
Libya’s Zueitina port has received its first oil tanker after temporarily lifting force majeure last week to free up storage space. While Libya’s National Oil Company (NOC) did not issue a statement, NOC sources told LIbyan media that the Melos 21 oil tanker had docked at Zueitina for loading, after which it will sail to China. Libya’ declared force majeure…
Read More
Certainly that Pakistan is passing through the worst economic and political crisis in its history of more than seven decades. Current challenges are unprecedented. Foreign debt has reached its peak, inflation, price hike, political turmoil, etc., all are reinforcing difficulties for Pakistan. Under such a critical scenario, the nation has to think smartly, and wisely. Without compromising national interests, Pakistan…
Read More
Queensland’s energy minister has declared that none of the state’s eight coal-fired power stations will be closed as part of its 10-year energy transition plan, raising doubts about the government’s climate change and energy targets. Mick de Brenni said later this year he would present a plan to generate 50% of the state’s electricity from renewable energy sources, cut carbon…
Read More
The multibillion-U.S. dollar China-Pakistan Economic Corridor (CPEC), a mega project that can help Pakistan overcome its socio-economic challenges, has helped sow the seeds of love among young Pakistanis. During the ongoing festival of Eid-al-Fitr, Chinese workers at various CPEC projects across the Asian country felt the delight their Pakistani colleagues did and made the day very special for them. Syed…
Read More
