uropean Union officials are discussing on Monday revisions to plans unveiled last week for cutting natural gas use by 15% by next spring after several EU member states expressed concerns about the target for reduction, a draft document seen by Bloomberg showed. Last week, the European Commission unveiled measures for the EU to conserve gas in the face of risks…
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Russia’s Gazprom said on Monday it was halting another turbine in the Nord Stream 1 pipeline to Germany and the flow of gas, already at just 40% of capacity, would fall by another half from Wednesday. The new blow to supply comes at a moment of high tension as Russia and the West exchange economic blows in response to Moscow’s…
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he Economic Coordination Committee (ECC) of the Cabinet has decided to increase the RLNG rate to $9 per MMBTU for five export-oriented sectors across Pakistan and gave approval for an increase in indigenous gas price for export-oriented sectors at Rs1,350 per MMBTU and for the general industry at Rs1,550 per MMBTU. The meeting of the ECC presided over by the…
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Minister of Finance Miftah Ismail on Monday presided over a meeting of the Economic Coordination Committee (ECC) during which electricity and gas rates for five export sectors were approved. According to the ECC meeting, gas will be supplied to export sectors at the rate of $9 per mmbtu. A decision was also made to supply electricity to five export sectors…
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For a while, it seemed the world was serious about exiting coal in pursuit of noble climate change targets. But the past two years (since covid hit the world) have shown that coal may be too difficult a habit to break. Global reliance on coal has only grown. Massive demand therefore has sent coal prices hurtling forward. To no end.…
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Pakistan Businesses Forum (PBF) says country is facing severe economic challenge with unprecedented loss of value of our currency against dollar on a daily basis. Prime Minister Shehbaz Sharif should immediately activate the National economic council on the lines of NCOC and on-board all political parties, he said adding services chief’s of the armed forces should also to be made…
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The ECC “approved RLNG rate at $9 per mmBtu, all-inclusive to five export-oriented sectors across Pakistan for existing gas connections,” said an official statement, adding the ECC also recommended to the federal cabinet to raise the tariff of indigenous gas for export-oriented sectors at Rs1,350 per mmBtu and general industry at Rs1,550 per mmBtu. This will mostly apply in Sindh…
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Pakistan Postal Services on Monday issued a commemorative postage stamp of Rs 20 on the completion of 100 years of successful operations of Attock Refinery Limited (ARL). ARL, a pioneer of crude oil refining in this part of the world is a member of the Attock Group of Companies, the only fully integrated group covering all segments of Oil and…
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The maritime sector is the bedrock of Pakistan’s economy as more than 90% of our trade is carried out by seas. Pakistan has huge maritime potential and its economic development is intrinsically linked to the development of maritime sector. Lack of awareness about the maritime sector keeps us away from utilizing the blue benefits. Pakistan Navy, as a major stakeholder,…
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