Author: Admin

Era of Russian Gas to Europe Ends as Ukraine Transit Stops

Admin
natural gas prices

MOSCOW: Russian gas exports through Soviet-era pipelines via Ukraine officially ceased on New Year’s Day, marking a historic end to Moscow’s decades-long dominance over Europe’s energy supply. The gas flow, which persisted even amidst nearly three years of war, stopped at 0500 GMT after Ukraine declined to renew a transit agreement, according to Russian energy giant Gazprom. While the halt was anticipated, it contrasts sharply with the disruption in 2022 that sent European gas prices soaring, exacerbating a cost-of-living crisis and threatening the bloc’s economic competitiveness. This time, European Union…

Read More

Govt Pushes for Energy-Efficient Building Codes to Combat Energy Crisis

Admin
Power-Division

Islamabad: The Ministry of Energy (Power Division) has urged all provinces to implement the revised Energy Conservation Building Code-2023 (ECBC-2023) to address Pakistan’s escalating energy crisis. In a letter dated January 1, 2025, Federal Minister for Energy Sardar Awais Ahmed Khan Leghari emphasized the critical role of energy-efficient building designs in reducing the nation’s power consumption, which is predominantly driven by inefficient cooling systems in the building sector, consuming over 60% of total energy. The revised ECBC-2023, approved by the Federal Cabinet in August 2023, mandates the incorporation of energy…

Read More

BBoIT and FPCCI to organise Balochistan Summit 2025 in January

Admin
New-FPCCI

Karachi: Atif Ikram Sheikh, President FPCCI, has apprised that FPCCI and Balochistan Board of Investment & Trade (BBoIT) will be jointly organizing Balochistan Summit 2025 on January 27-28, 2025 in Islamabad – aimed at promoting business, investment, joint ventures industrialization and trade promotion activities in Balochistan on an international-scale. It is pertinent to note that top civilian and military leadership of the country are expected to attend the all-important Balochiatan Summit 2025 to project and position the province as the foremost investment destination of the country. Mr. Atif Ikram Sheikh…

Read More

Pakistan Launches Ambitious “Uraan Pakistan” Initiative to Transform Economy

Admin
Uraan-Pakistan

Islamabad, January 1, 2025 — Pakistan has officially unveiled the Uraan Pakistan initiative, an ambitious roadmap to propel the country towards becoming a $1 trillion economy by 2035 and a $3 trillion economy by 2047. Built on the transformative 5Es Framework, the initiative emphasizes five key pillars: Exports, E-Pakistan, Environment, Energy & Infrastructure, and Equity, Ethics & Empowerment. Prime Minister Shehbaz Sharif, in his address during the launch event, emphasized the importance of holistic economic reforms to unlock Pakistan’s potential. “With Uraan Pakistan, we aim to set a new trajectory…

Read More

Turkey Increases Fuel Tax by 6% Amid Inflation Control Efforts

Admin
Fuel-Tax

ANKARA: Turkey has raised its special consumption tax on fuel by 6%, according to a presidential decree published in the Official Gazette on Tuesday. The move comes as the government aims to manage inflation while maintaining fiscal stability. The tax adjustment, implemented every six months based on the producer price index (PPI), reflects a cumulative five-month PPI increase of 7.12%. Despite the hike, Finance Minister Mehmet Simsek assured that recent tax measures on fuel and tobacco are designed not to affect Turkey’s inflation goals for 2025. Fuel taxes often impact…

Read More