Economic headwinds are expected to subside as economic indicators are seen improving. With surplus in recent months, current account deficit is expected to remain in control; remittances a have continued to march up and outlook for currency depreciation is also stable. Plus, government’s packages, low interest rates, expected control in inflation, and debt relief on international loans will all contribute…
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Having pocketed a record Rs136 billion in lieu of Petroleum Levy during 1QFY21, the government is well on course to rake in even higher number for 2QFY21. In all likelihood, a new quarterly Petroleum Levy record is all put in the bag – where it could likely cross Rs150 billion. Lower international crude oil prices have helped no doubt. Arab…
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ISLAMABAD: The federal government on Tuesday “formally” considered a proposal to appoint administrator on Karachi Electric (KE), for resolution of outstanding issues, prior to transfer of 66.40 per cent stakes of M/s Abraaj to Chinese company Shanghai Electric Power (SEP), well informed sources told Business Recorder. Co-chaired by Minister for Privatisation, Mohammedmian Soomro and Minister for Energy, Omar Ayub, the…
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ou may be surprised to learn that of the trio of long-awaited coronavirus vaccines, the most promising, Moderna’s mRNA-1273, which reported a 94.5 percent efficacy rate on November 16, had been designed by January 13. This was just two days after the genetic sequence had been made public in an act of scientific and humanitarian generosity that resulted in China’s Yong-Zhen Zhang’s…
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ISLAMABAD: The government has imposed a ban on new gas connections for industrial units based on locally produced gas and liquefied natural gas (LNG) solely for power generation purpose. At present, the industries, especially the textile sector, have gas connections and are producing electricity in addition to getting electricity at subsidised rates from the national grid. They are not only…
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The government continues to struggle with ensuring a seamless supply chain for imported liquefied natural gas (LNG) for the third winter in a row. The Petroleum Division is again under fire this year for delaying LNG import orders resulting in higher prices. This caused a loss to the exchequer and made gas less affordable to consumers. While the peak winter…
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UNITED NATIONS: Pakistan has informed the international community that it’s working on a plan to ensure that by 2030 at least 30 per cent of the vehicles used in the country are electronic. Along with Denmark and Norway, Pakistan co-chairs a 32-nation Group of Friends on Sustainable Energy, which is committed to a transition from fossil fuel to renewable energy.…
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As Chairman FBR I was handling the issue of withdrawal of zero rating for sales tax on five export-oriented sectors it was then that I realized that price of electricity and subsidy thereon for industries is more important than many other things. I was not able to quantify, however, it was quite clear that a subsidy is warranted for such…
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Avram Noam Chomsky, an internationally recognised linguist, philosopher, social critic and political activist, delivered an online lecture titled ‘Bullet Dodged or Merely Delayed: Reflections on the Future of Democracy, Nuclear Proliferation and the Looming Environmental Catastrophe in a Post-Trumpian World’ on Monday. The lecture was part of the Habib University’s flagship Yohsin Lecture Series. Prof Chomsky discussed the recent outcome…
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Bitterly criticising the federal and provincial governments, as well as political parties, for their failure to implement the coronavirus-related standard operating procedures (SOPs) in the country, health experts on Monday, claimed no space was left at intensive care units (ICUs) and high dependency units (HDUs) of leading public and private health facilities in Karachi as the number of coronavirus patients…
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