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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Bangladesh will not buy liquefied natural gas (LNG) on the spot market in the coming months due to a steep rise in prices, two sources with direct knowledge of the matter said on Wednesday. The south Asian country has not bought any spot LNG cargoes this month despite the country returning to frequent “load-shedding”. “There is no plan to import…
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Electricity demand growth worldwide is slowing sharply this year as the global economy slows and energy prices remain high, according to the International Energy Agency. Demand is forecast to grow by 2.4 per cent in 2022, lower than the IEA’s roughly 3 per cent growth forecast at the start of the year and down from the 6 per cent increase recorded in…
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The Economic Coordination Committee (ECC) of the Cabinet on Wednesday granted approval for placing a uniform tariff for K-Electric (KE) and raised the tariff to Rs1.55 per unit on an average to bring it on a par with other Power Distribution Companies (Discos) operating in the country. The ECC also approved import of 200,000 tons of urea fertiliser and 300,000…
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Coming months are crucial for Pakistan as the European Union looks into extending its generalised scheme of preferences plus (GSP plus) status for 2024, a scheme from which Pakistan was set to benefit up to December 2023. The GSP plus allows zero duty on the import of certain items to the EU from designated countries. In this regard, Friedrich Naumann…
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During the pv magazine organised Roundtables Europe 2022, the key issues of photovoltaic and energy storage technology were debated by industry professionals from LONGi, PI Berlin, the Austrian National Institute of Technology (AIT) and the European EPC Belectric. In a session entitled ‘Module design choices, reliability and revenue expectations’, the group discussed issues including whether there is an optimal module…
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Business community has urged the government to reach out to the stakeholders as there is a dire need to instill a sense of confidence into them and rebuild their sentiment to stabilise the worsening rupee-dollar parity. The unprecedented volatility in the rupee-dollar parity is playing havoc with the economy. Imports of essential commodities and industrial raw material would cease if…
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