China is largest trading partner of Pak, also important source of FDI in country, says President President Dr Arif Alvi on Wednesday said the China Pakistan Economic Corridor (CPEC) had helped further expanding and strengthening the bilateral relations between the two countries. He expressed these views while talking to Pakistan’s Ambassador to China, Khalilur Rahman Hashmi who called on him…
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ISLAMABAD: Pakistan, which is facing a severe gas shortage that has crippled its power sector and industries, will receive a liquefied natural gas cargo from Italy’s ENI SpA on Jan. 18 as scheduled, averting a potential supply disruption, government offcials said on Wednesday. ENI, one of the long-term LNG suppliers to Pakistan, had earlier indicated that it might not be…
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ISLAMABAD: State-owned Oil and Gas Development Company Limited (OGDCL) inaugurated a Reverse Osmosis Plant in a rural village near Rawalpindi, providing clean drinking water to the local community, a statement said. The plant, located in Gorsian village of Gujjar Khan tehsil, is part of OGDCL’s Corporate Social Responsibility (CSR) program, which aims to improve the living standards of the people…
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KARACHI: For the first time, the House of Nahyan has joined Bloomberg’s annual ranking of family fortunes and done so at the very top. With a $305 billion fortune, the Al Nahyans of Abu Dhabi topped the Waltons of Walmart Inc. by a cool $45 billion. Another new entrant, the Al Thanis, the royal family of Qatar, at No 5.…
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NEW DELHI: India has made its first-ever payment in rupees for crude oil obtained from the UAE, marking a significant move in the country’s initiative to promote the global use of its local currency. Officials have emphasized that this groundbreaking step is part of a broader strategy to explore similar deals with other oil suppliers, Indian media reported. The initiative…
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Recent load shedding on 25th and 26th of December was due to tripping of multiple grid stations in Multan region and other DISCOs. Due to fog, the grid stations of 132kv, 220kv and 500kv tripped. During same time the Hydel generation plummeted creating constraints to balance the system. NTDC system is facing a challenging time due to these extreme weather…
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KARACHI: Local refineries are reluctant to import the Russian crude oil as the global prices of furnace oil, a by-product of the Russian oil, have plunged, industry sources told The News on Tuesday. “We need the Russian crude oil at a discounted price because the price for the earlier cargo is not feasible in the present times when the furnace…
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ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar Tuesday stressed upon focusing the climate resilience and climate finance aspects in all the water projects of Balochistan and reiterated that progress and prosperity of the people of province were among the top priorities of the government. The caretaker prime minister chaired a review meeting on the important matters pertaining to the Balochistan province.…
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Gives fertiliser plants LNG worth Rs15b to be recovered from consumers ISLAMABAD: In the face of resistance from the Sindh province, the caretaker government is aiming to recoup Rs232 billion, representing the cost of diverting expensive Liquified Natural Gas (LNG) supply to domestic consumers from January 1, 2024. The gas utility, Sui Northern Gas Pipelines Limited (SNGPL), had redirected costly…
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ISLAMABAD: The Central Power Purchasing Agency (CPPA) has sought a massive Rs4.66 per unit fuel cost adjustment (FCA) for an increase in ex-Wapda distribution companies (Discos) to generate additional amount in January 2024. The National Electric Power Regulatory Authority (Nepra) will hold a public hearing today (Wednesday 7 December 2023) on the CPPA-G’s request. In a petition, the CPPA acting…
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