As many as nine countrywide electricity blackouts have been witnessed since mid-2018 due to inefficient management and Board of Directors (BoD) of the National Transmission & Despatch Company (NTDC), said sources. They said the Nepra has fined the NTDC for the blackouts as such a level of blackouts have never been witnessed in the history of the country. According to…
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The IMF has asked cash-strapped Pakistan’s government to renegotiate the China-Pakistan Economic Corridor (CPEC) energy deals before making payments of around Rs 300 billion (USD 1,49,71,55,400) to the Chinese power plants, putting Islamabad in a tight spot, a media report said on Thursday. As of now Pakistan has repeatedly been seeking international aid to support its failing economy. The talks…
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Crude Oil & Gasoline prices have been a hot topic for almost everyone recently. As inflation surges, consumers are feeling the increased pricing pressures from all sides right now. It is starting to reflect in the use of credit cards, discretionary spending habits, and summer holiday travel plans. As the US Fed adjusts rates to burst inflation trends, consumers are left trying to navigate a…
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Despite country’s mining and quarrying sector shrank by 4.5 percent in July-March 2021-22, production of coal, natural gas, crude oil, and iron ore increased in the same period, latest economic survey showed on Thursday. During nine months of the current fiscal, production of major minerals increased such as coal by 8.34 percent, natural gas by 3.45 percent, chromite by 25.7…
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The National Assembly on Thursday passed “The Export-Import Bank of Pakistan Bill, 2022” with a majority vote aimed at establishing a facility for the promotion of international trade. The bill was moved by Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha in the house for passage. The house passed the bill with a majority after reading clause…
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The International Monetary Fund (IMF) has asked Pakistan’s government to renegotiate the China-Pakistan Economic Corridor (CPEC) energy deals before making payments of around Rs300 billion to the Chinese power plants, putting Islamabad in a tight spot. The global lender has asked the government to treat the Chinese CPEC power plants at par with the power plants established under the 1994…
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May 2022
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When news broke last week that President Biden was planning a Middle East visit that would include Saudi Arabia, many an industry observer saw in this signs of “thawing” relations between Washington and Riyadh. They also saw the prospect of lower oil prices. It was, after all, to lower prices that Biden was planning this visit. Unfortunately, things are never…
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After two years of regular oil discoveries in Guyana, it seems its deep waters may hold even more crude, adding to its reputation as the next big oil-producing state. But the government will have to get its agreements in order if it wants to ensure the future financial security of the country, as major international players swoop in to reap…
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The Public Accounts Committee (PAC) on Wednesday sought power purchase agreements with Independent Power Producers (IPPs) signed by previous governments. Noor Alam Khan chaired the meeting of the committee which examined the Audit Report of the Cabinet Division for the year, 2019-20. The chairman committee said the tariff on electricity came down when demand increased but in Pakistan, the position…
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