The coalition government is likely to jack up the per litre prices of all petroleum products except the petrol for the remaining fifteen days of October,2022 it was learnt on Thursday. According to sources in oil industry, the price of high-speed diesel (HSD) is expected to witness Rs 11.57/litre increase while Kerosene oil price is likely to be increased by…
Read More
Pakistan will ask China in the upcoming Joint Coordination Committee (JCC) meeting of CPEC to move towards the bidding process of the much-awaited ML-1 (Mainline-1) for the construction of a rail-line from Karachi to Peshawar. Pakistan will also inform the Chinese side about the devastating effects of severe floods causing $32 billion to $34 billion losses with the request to…
Read More
The National Assembly was informed on Thursday that a process has been started to prepare a National Adaptation Plan for building resilience to climate change. During a question hour’s session of the National Assembly, Minister for Climate Change Sherry Rehman told the House that the aim is to reduce vulnerabilities to climate impacts by creating comprehensive medium- and long-term plans…
Read More
Securities and Exchange Commission (SECP) has reportedly sought explanation from Karachi Electric (KE) on purported deal of sale of shares of KES to Sheryar Chishiti, who owns M/s Daewoo in Pakistan. Background interaction with senior officials in Power Division, SECP and KE indicate that they are not aware of the deal of KES stakes through British court, but strong rumours…
Read More
Pakistan’s precarious financial situation, persisting for the last many decades, has landed it into a deep debt trap where an overwhelming part of tax revenue is consumed in debt servicing alone. This is done at the expense of developmental and social protection reforms, which are eventually ignored. Pursuant to section 13(i) and (r) of Fiscal Responsibility and Debt Limitation Act,…
Read More
As Europe prepares for a winter without Russian gas, the Kremlin is looking to move its natural gas sales farther to the east. Although China and India remain Moscow’s most important export destinations in Asia, Russia seems to have found a new buyer, the Islamic Republic of Iran. Why would a country that holds some of the world’s largest proven…
Read More
A major power breakdown caused by what was described as an “accidental fault” on Thursday morning piled miseries on people across the city, as well as other parts of southern Sindh, on Thursday. Normal supply could not be restored till late in the evening. Almost the entire city remained without electricity for hours, causing a great deal of inconvenience and…
Read More
The U.S. should set a price cap on U.S. LNG going to Europe, as American gas is being delivered to Europe at prices four times higher than the price for domestic consumption, Russian Deputy Prime Minister Alexander Novak said in an interview with Russian state television. “We would advise our US partners to set a certain cap price for the resources they…
Read More
President Malpass expressed his condolences for the loss of lives and livelihoods due to the devastating floods. President Malpass highlighted that Pakistan is among the countries most affected by climate change causing devastating damage to infrastructure and agriculture production. President Malpass reaffirmed the World Bank Group’s (WBG) ongoing commitment to support urgent needs in health, food, shelter, and cash transfers,…
Read More
