ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Friday approved up to Rs2.89 per unit increase in electricity tariff for Karachi with immediate effect and allowed in principle shifting of Rs74 billion cost of LNG consumed by domestic and commercial sectors in winter months to power and industrial sectors. The ECC meeting presided over by Adviser to the…
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ISLAMABAD: Prime Minister Imran Khan on Thursday announced the establishment of 15 national parks in all the federating units as part of efforts to protect nature. Launching the ‘Protected Area Initiative’ on Thursday, the prime minister said that guidelines will be given to the provinces to preserve these national parks. He said that this is a major initiative for future generations.…
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The Helpline Trust has appealed to the Chief Justice of Pakistan and the Chief Justice of Sindh High Court to take appropriate action against Karachi Electric as per NEPRA Act of 1997 and Electricity Act of 1910, and their subsequent rules and regulations, for the illegal power outages, euphemistically referred to as Load Management, which KE is subjecting its subscribers…
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The government on Saturday assigned Muhammad Javed Ghani the additional charge of the chairperson of the Federal Board of Revenue (FBR), the fourth appointment made to the position since the ruling PTI took office. He replaces Nausheen Amjad, who was appointed to head the revenue authority in April. “The federal government has been pleased to assign additional charge of the…
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he Houthi rebels in Yemen claim they have sent a team to repair an oil tanker full of 1 million barrels of oil sitting off the Yemeni coast for five years and threatening to leak oil into the sea or to explode. The maintenance team may not prevent the tanker from leaking oil because the Saudi-led coalition is not allowing…
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Oil Powers Bought Iraqi Compliance – And Something Else, Too They may have paid for compliance, but they were really buying something else. With COVID-19 cases now starting to ravage a politically fragile Iraq – which is also the center of a proxy war between the US and Iran – there’s never been a better time for the country to…
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In partnership with the business sector, the Japanese government will invest some $14.4 billion (1.5 trillion yen) in liquefied natural gas development in Mozambique, the Nikkei Asian Review reported. According to the report, the money will fund the development of a gas field in the African country to produce some 12 million tons of LNG annually, beginning in 2024. As part…
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Elon Musk took his Twitter feud with Tesla’s short sellers and the Securities and Exchange Commission to a whole new level on Thursday evening, mocking the traders who had bet against the EV maker, as well as the U.S. market regulator, as Tesla’s stock hit a new record-high of $1,208, rallying 7.95 percent. In a series of tweets, Musk asked,…
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Out of Spain’s 15 coal-fired plants, seven ceased operations on June 30. Four more will soon follow, putting Spain on track to ultimately become coal-free. The country closed all its coal mines two and a half years ago as a result of the European Union banning their state aid. The demise of coal in SpainThe seven plants that have shut…
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ISLAMABAD: The country’s automotive industry has reportedly sought two years to switch over to Euro IV/ V fuel or exclude existing models under production in the country, sources close to Secretary Industries and Production told Business Recorder. On June 4, 2020, Cabinet Committee on Energy (CCoE) disallowed Oil Marketing Companies (OMC) to import petrol below Euro-V after August 1, 2020. The…
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