Two of Pakistan’s state-owned enterprises (SOEs), Pakistan LNG Limited (PLL) and Pakistan State Oil (PSO), made excess payments of $39.5 million to LNG suppliers in the head of port charges, The News reported on Monday. Payments worth $25 million “The Pakistan LNG Limited is found to have paid additional payments of $25 million (Rs3.97 billion) to LNG suppliers of Gunvor and ENI…
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Pakistan’s airlines face the risk of getting banned from flying to 188 countries over the pilot licensing issue and failure to keep up with the international standards as needed by the International Civil Aviation Organisation (ICAO), a media report claimed on Sunday. The development came after its flag carrier Pakistan International Airlines (PIA) has already been banned from taking flights…
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As Europe moves into yet another wave of Covid-19 lockdowns, there is growing concern surrounding the future of offshore workers. However, a move to digitalize the industry by introducing a remote oil rig system could alleviate the stress around contagion and potentially save many jobs. Norway has been a key testing ground for remote operations since initial experiments took place…
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The Food and Drug Administration is warning consumers and health care providers about the growing number of hand sanitizers that contain methanol, which can be toxic when absorbed through the skin and deadly if swallowed. The regulatory agency has expanded to 59 its list of sanitizers to steer clear of — some of which have already been recalled and some the FDA…
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The first effective coronavirus vaccine can prevent more than 90% of people from getting Covid-19, a preliminary analysis shows. The developers – Pfizer and BioNTech – described it as a “great day for science and humanity”. Their vaccine has been tested on 43,500 people in six countries and no safety concerns have been raised. The companies plan to apply for…
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Like other developing countries, Pakistan has been a consistent recipient of foreign loans and assistance in the form of project and programme loans and grants for social and economic development objectives through budgetary and balance-of-payments support. Programme loans are generally sought for achieving broad development and economic objectives like reforms while project loans are secured for specific projects and services…
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The Pakistan Tehreek-e-Insaf (PTI) government is making its mind to scale down the prices of liquefied petroleum gas (LPG) by doing away with the withholding tax (WHT) of 5.5 percent on its import, and slashing general sales tax (GST) of 17pc to 10pc on domestic production. And more importantly, 3 percent sales tax (ST) on LPG production will also be…
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urkmenistan Ambassador to Pakistan Atadjan Movlamov on Sunday announced that the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline is at the stage of practical implementation, adding that the project is certain to be a game changer for Pakistan’s economic prosperity. He stated this while meeting with representatives of the (EJAF) Economic Journalist Association Forum in Islamabad. Movlamov said that a 1,840km long pipeline…
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Exploration and Production (E&P) companies have made around 90 oil and gas discoveries in different parts of the country during the last six years. The companies found 12, 24, 17, 22, 12 and 3 hydrocarbon deposits in 2015, 2016, 2017, 2018, 2019 and 2020 respectively, out of which 10 were discovered in different parts of Punjab, 69 in Sindh, eight…
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ISLAMABAD: Amid opposition from consultants, experts and key stakeholders, the Cabinet Committee on Energy (CCoE) will take up on Tuesday a proposal for unbundling of two gas utilities into five smaller companies — one transmission and four provincial distribution firms — on the pattern of ex-Wapda’s 13 generation, transmission and distribution companies. In a summary to the CCoE, the Ministry…
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