Federal Minister for Planning and Development Ahsan Iqbal said Sunday that the price of gas has gone up in the international market, however, Qatar offered low-price gas to Pakistan during the recent visit of Chief of Army Staff (COAS) General Qamar Javed Bajwa, ARY News reported. Ahsan Iqbal gave a new logic to the menace of loadshedding, saying that the…
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Pakistan and the International Monetary Fund (IMF) are making an all-out effort to evolve a consensus on prior actions for moving towards a staff-level agreement and one of the bones of contention is related to the strengthening of anti-corruption institutional mechanism.https://025ed454977d402ac5b76239e65af7a7.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html The IMF wants to make it a part of the prior actions list because the government could not fulfil…
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All Pakistani commercial banks have refused to open letters of credit (LCs) for Russian-origin crude oil in the presence of economic sanctions by the US, the UK and EU countries against Moscow for war against Ukraine, saying the payment in US dollar terms is not possible against the import of Russian crude oil. However, if the government manages to enter…
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The government is working on a comprehensive solar energy package comprising tax waivers and concessionary loans for consumers in a bid to overcome the prolonged power outages that have stalled life in the country. The solar package will also include a short-term plan for shifting government offices on to solar energy. It involves preparation of a plan for helping small…
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OPEC’s crude oil production fell in June compared to May, due to outages in Libya and Nigeria, and the 10 cartel producers bound by the OPEC+ pact lifted their combined production by just 20,000 barrels per day (bpd) last month, the monthly Reuters survey showed on Friday. OPEC’s all 13 members—including Libya, Iran, and Venezuela that are exempted from the pact—saw their…
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Libya’s National Oil Corporation (NOC) declared force majeure on crude exports from its oil terminals amid continued blockades of production and ports, which have severely crippled Libya’s oil exports. The force majeure comes after weeks of protests and closures amid the new rift in Libya’s political class over who should be governing the country. The most recent rivalry is between…
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The three Baltic states, in coordination with the European Union, are ready to switch off from the Russian power grid in an emergency, three years before the planned switch, Reuters reported on Friday, quoting sources with knowledge of the matter. EU member states Latvia, Lithuania, and Estonia are still connected to the Russian power grid, but EU members—especially those Baltic…
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The General Assembly of the World Wind Energy Association has re-elected Hon. Peter Rae AO (Australia) for a another term as WWEA President. The WWEA General Assembly took place in Rimini/Italy, on the occasion of the 20th World Wind Energy Conference WWEC2022. WWEA President Peter Rae: “I am grateful that the WWEA members have expressed their confidence in me by electing…
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Minister of State for Petroleum Dr Musadik Malik on Friday said the government was committed to exploiting indigenous hydrocarbon resources for achieving self-sustenance in the energy sector. Addressing a news conference, he said a plan was being devised to provide effective package of incentives to both local and foreign exploration and production (E&P) companies to step up drilling activities in…
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The Senate Standing Committee on Climate Change on Thursday was left baffled when it learnt that the United Kingdom, Iran, United Arab Emirates, Saudi Arabia, United States of America, Belgium, Germany, Spain, Canada and Italy, were the top-10 countries, respectively, exporting waste to Pakistan. The committee was shocked to see the names of some of the friendly countries as well…
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