A large number of villagers staged a demonstration on Wednesday in protest against mining companies, accusing them of illegally appropriating over 9,000 acres land in their settlements for laying a pipeline from Nabisar to a reservoir in Weejhiar area within Thar coalfields without paying compensation to landowners. The protesters’ leaders complained to media persons that their land in 30 villages…
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Cabinet approves giving Roosevelt Hotel on lease
The federal cabinet on Wednesday approved the decisions taken in the meeting of the Cabinet Committee on Privatization (CCoP) to hire a firm for giving Roosevelt Hotel in New York on lease. The Express Tribune had reported that the committee in its meeting held on Monday had asked the privatisation commission to appoint a financial adviser for leasing the hotel…
Read MoreEnergy saving plan: Cabinet to expedite consultations with stakeholders
The federal cabinet Wednesday decided to expedite the process of consultation with all stakeholders, including the provincial governments to ensure the implementation of the energy saving plan. The federal cabinet meeting which was chaired by Prime Minister Shehbaz Sharif discussed the proposed energy saving plan presented by the Power Division. The meeting was briefed on the consultations conducted so far…
Read MoreRussia says ‘active work underway’ to establish gas hub in Türkiye
Russian Energy Minister Alexander Novak said active work is underway for the establishment of the gas hub in Türkiye. ‘Currently, active work is underway with the countries that will participate in the implementation of this project, as well as with consumers in need of Russian gas,’ Novak said in an interview with the Russian state-run TASS agency on Monday. The…
Read MoreRussia And Iran Look To Strengthen Grip On Global Oil Markets
When a senior government minister of either Iran or Russia says that the two countries are now experiencing a ‘golden age’ in developing relations between them then it’s a pretty safe bet that one or more countries somewhere are going to be in serious trouble pretty soon. Iranian Petroleum Minister, Javad Owji’s, comment was echoed by senior Russian officials, which…
Read MoreWinter Storm Elliott Highlights Vulnerability Of U.S. Energy Systems
Winter Storm Elliott, which swept through most of the United States during the Christmas holidays, exposed the vulnerability of the energy system as natural gas and power supplies were strained, wells froze off, and utilities vastly underestimated the power demand during the huge storm. Despite the fact that it wasn’t as prolonged as the Winter Storm Uri of February 2021,…
Read MoreGovt asked to conduct forensic audit of IPPs
Pakistan Institute of Development Economics’ Power Commission has asked the government to conduct a forensic audit of Independent Power Producers (IPPs) in the wake of alleged inflated and fraudulent charges secured from the national exchequer. The PIDE’s Power Commission on Tuesday launched a book titled “Power Sector: An Enigma with No Easy Solution” It stated forensic audit of both public…
Read MoreGasoil margins jump
Asia’s 10 ppm sulphur gasoil margins surged by more than 13% on Tuesday, helped by weather-related supply concerns in the US market, stronger oil futures and firmer demand expectations after China eased COVID curbs. Gains were curbed by uncertainty in China’s export volumes, pending the release of export quotas for 2023. Refining margins for 10 ppm sulphur gasoil rose to…
Read MorePakistan suffers a lot due to energy crisis, incurs Rs5tr losses: PIDE
Pakistan Institute of Development Economics (PIDE) Power Commission has said that Pakistan had suffered a lot because of the energy crisis for many years and the country has incurred massive losses of more than Rs5 trillion. Pakistan Institute of Development Economics (PIDE) on Tuesday launched a book ‘Power Sector: An Enigma with No Easy Solution’ which has called for forensic…
Read MorePakistan lacks infrastructure to import Russian gas
The import of gas from Russia is still a distant dream for Pakistan despite the two countries’ willingness to play ball. Analysts say the renewed discussion around gas imports from Russia won’t amount to much — at least in the short term — for two reasons. One, lack of infrastructure to handle gas imports; and two, inadequate capacity in the…
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