Incorrect diagnosis is at times, worse than no diagnosis at all. More so, if the diagnosis also leads to prescriptions being used. The government ministers, in a star-studded presser, announced a national energy conservation policy, in light of the crisis Pakistan faces today. The plan, if implemented, is slated to save all of Rs62 billion over 12 months. Not sure…
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The total planned investment under China Pakistan Economic Corridor (CPEC) is $62 billion between FY2015 and FY2030, out of which $27.4 billion projects have been realized, with energy sector (power generation, coal mining and transmission lines) representing 76 percent. It covers power generation projects, both fossil fuel and renewable, of about 11 GW. To date, about 5,520 MW energy projects…
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All agreements for the extraction of Balochistan’s natural resources were signed by “weak and non-political governments”, National Party chief Dr Abdul Malik Baloch said on Wednesday. “Balochistan will not get a 25-35 percent share out of the Reko Diq project. Instead, its share won’t be more than 10 percent. “Like all previous arrangements, the Reko Diq agreement is unjust for…
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In order to enable PSO to remain current in its payment obligations to LNG suppliers as well as to maintain LNG supply chain, the Economic Coordination Committee (ECC) allowed release of Rs. 10 billion budgeted subsidy to Petroleum Division and allowed GoP guarantee against bank financing upto Rs. 50 billion In order to enable PSO to remain current in its…
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Pakistan is a country of 230 million people, a nuclear power, and rich in natural resources but we rank 138 in the world prosperity index and cannot provide quality health and education to our people. With the dwindling reserves, stalled IMF programme, limited bilateral /multilateral inflows and expensive commercial lending to Pakistan, the situation can’t be worst. There is also…
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To help stabilise the economy, the federal cabinet resolved on Tuesday to take drastic steps, such as closing markets at 8:30 p.m. and wedding halls at 10.00 p.m. This is part of the government’s greater plan to cut back on energy consumption in order to save precious foreign exchange reserves. According to Defence Minister Khawaja Asif, “with this initiative, which…
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Oil prices crashed early on Wednesday, with Brent Crude falling below the $80 a barrel mark again, as concerns about immediate global oil demand intensified with soaring Covid cases in China and slowing economies globally. As of 8:33 a.m. ET on Wednesday, the U.S. benchmark, WTI Crude, had plummeted below $75 per barrel and traded down by 2.68% at $74.91.…
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Saudi Arabia could reduce the official selling price for its flagship Arab Light crude further for Asian buyers, Reuters has reported, citing four analysts it surveyed. The discount will be for Asian purchases. Aramco already cut the price of its Arab Light for Asian buyers to the lowest in 10 months for shipments taking place this month. The price was…
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