Saudi Arabia has reportedly offered Liquefied Natural Gas (LNG) to Pakistan on commercial basis in addition to activating an agreement on financing and providing supplies of crude oil and petroleum products signed between Saudi Fund and GoP. Saudi Arabia has sent this offer to Pakistan in draft minutes of the upcoming meeting of the Joint Working Group under the umbrella…
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Prime Minister Shehbaz Sharif on Wednesday approved, in principle, to abolish the China-Pakistan Economic Corridor (CPEC) Authority subject to consent by China – a decision that the government says will help fast-track the implementation of the multi-billion-dollar project. The decision was made on the basis of a summary that the planning and development ministry had moved two months ago to…
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Pakistan’s external debt has skyrocketed to almost Rs60 trillion, sending a wave of concern across financial and economic circles. The situation at the internal financial front is not rosy either with the domestic loan hitting the Rs31 trillion mark. Given the current financial mess, it seems that the IMF tranche will only end up adding more to the pile of…
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Factories in China’s southwest have shut down after reservoirs used to generate hydropower ran low in a worsening drought, adding to economic strains at a time when President Xi Jinping is trying to extend his position in power. Companies in Sichuan province – including makers of solar panels, cement and urea – closed or reduced production after they were ordered…
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WTI prices fell to $86.13 per barrel by 2:24 pm ET, down $3.28, or 3.67% on the day. Brent crude fell $2.98 (-3.13%) on the day to $92.12 per barrel—the lowest price since February this year. Gasoline prices in the United States have been falling for months now led by falling crude oil prices. Today’s gasoline prices in the United…
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Pakistan may seek a 15-year LNG contract with Qatar on a G2G (government to government) basis — two cargoes in a month with a reopening price clause after 11 years — during the forthcoming visit of Prime Minister Shehbaz Sharif, a senior official of the coalition government has told The News. “The likely dates for the visit of the premier…
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The standard operating temperature of a PV module is higher than the ambient temperature. Under continuous exposure to extreme high temperatures, the temperature of a module at a solar power plant can reach 75°C or more, and the working temperature of its internal cells may be even higher. Existing base testing parameters commonly set the maximum temperature for a PV…
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Mr. Irfan Iqbal Sheikh, President FPCCI, has demanded that the downward spiral in international oil prices and continuous appreciation of Pak Rupee over the past couple of weeks should be transferred to the end consumers in full with immediate effect. This is the only swift measure that the government of Pakistan can take to provide some relief to the business,…
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There is no separate handling on modern lines of around 1,100 tonnes of garbage generated from hospitals in Karachi daily as haphazard disposal of medical waste creates a serious public health risk.This was stated by the Dean of Architecture and Management Sciences of the NED University of Engineering & Technology, Prof Dr Noman Ahmed, in his keynote address at the…
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The government on Monday shelved a plan to sell two LNG-fired power plants to Qatar and instead decided to offer 51% stakes in the Roosevelt Hotel, New York, and the Pakistan International Airlines (PIA). Prime Minister Shehbaz Sharif took these decisions during a meeting convened to make preparations for his visit next week to Qatar, which is tentatively planned for…
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