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ISLAMABAD: The government has called a series of back-to-back meetings to facilitate allocation of pipeline capacity and tie-in points to new upcoming liquefied natural gas (LNG) terminals. The issue would be first taken up at the meeting of the Cabinet Committee on Energy (CCoE) on Thursday. To be presided over by Minister for Planning and Development Asad Umar, the CCoE would be given an update by the Ministry of Maritime Affairs (MOMA) on the progress of establishment of new LNG terminals. The MOMA would inform the CCoE that the board…

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KARACHI: A big chunk of 523 million shares in Byco Petroleum Pakistan Ltd was sold on Wednesday by IGCF Oil and Gas Ltd previously called Abraaj Mauritius. Yawar uz zaman, head of research at Pearl Secu­rities, said that the deal — which was in the making for quite some time — was sealed at a price of Rs9.46 per share. The divestment of Byco stock by Abraaj group was 9.8pc out of its 22pc holding in Byco, which the market watchers said was purchased in blocks by local brokers, companies…

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The Petroleum Division has asked the Oil and Gas Regulatory Authority (OGRA), Federal Board of Revenue (FBR), Board of Investment (BoI) and secretaries of concerned departments to furnish comments on the proposed new oil refining policy within 15 days for onward submission to the Cabinet Division, Profit learnt on Thursday. According to sources, the next meeting of the federal cabinet’s Economic Coordination Committee (ECC) is likely to take up the summary on the policy. The policy, once approved, will be included in the Finance Bill 2021-22 and will supersede all previous refining…

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Pakistan will get support from the Asian Development Bank (ADB), under its Country Partnership Strategy with Pakistan (2021–2025), to build liveable cities and climate and disaster resilience for mitigating climate change challenges and their negative impacts on agriculture and other sectors of the national economy. The bank in its Climate Risk Country Profile Pakistan has projected rises in the annual maximum and minimum average temperature, which would likely amplify the pressure on human health, livelihoods, and ecosystems. The city governments will be encouraged to explore new sources of funding to…

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Balochistan is the largest province of Pakistan in terms of area but unfortunately the most economically backward. It joined the Union of Pakistan voluntarily through a genuinely signed agreement. The most crucial and urgently required ‘Truth and National Reconciliation Commission’, is undeniably essential, to some extent indispensable, for this region, which is strategically located, straddling the volatile uplands of Eastern Iran and the South of Afghanistan. There have been numerous insurgencies here in this vast region with scant infrastructure since Pakistan was founded, which has challenged the nation’s fragile security…

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