The Manila-based Asian Development Bank (ADB) has communicated to the Power Division in plain words that it will not extend $400 million loan for multi-billion dollars Advanced Metering of Infrastructure (AMI) project if its scope is changed and also communicated to the government to pay over $2.2 million penalty as commitment charges for not utilising the loan for the project…
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KE and Karachi share a relationship that extends over a century. We are deeply enmeshed in the fabric of this city and have witnessed its growth from humble origins to today’s bustling megalopolis. Today, Karachi is responsible for 20% of Pakistan’s GDP, contributes over 55% of federal tax revenue, and handles over 95% of foreign trade through its ports. The…
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Kuwait Ports Authority (KPA) has approved a proposal to build the Middle East’s first city to serve electric vehicle manufacturers, the authority said in a statement on Sunday. The statement does not make clear where the project, called EV City, will be located. The design and construction tendering process will be during the 2011/22 fiscal year, said KPA’s General Manager…
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With oil and gas exploration and production flows weakening over the few years, reserves running dry, and discoveries remaining small and insignificant, FY20 was a weak link in for the sector not only due to the pandemic but also extreme volatility in oil prices to a point that they turned negative. them. Overall, oil production declined by 14 percent year-on-year,…
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As petrol stocks plummeted to three-five days’ consumption cover throughout the country, except Sindh, the government increased its price by Rs1.71 per litre and decided to change berthing order of various oil vessels. A senior government official told Dawn that the country’s overall petrol stocks had fallen below 260,000 tonnes that were equivalent to less than 10 days of consumption. After excluding…
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The CEO of Italian infrastructure giant Snam on Friday outlined a vision for the future of hydrogen, saying the “beauty” of it was that it could be easily stored and transported. Speaking to CNBC’s “Squawk Box Europe,” Marco Alverà spoke about how current systems would be used to facilitate the delivery of hydrogen produced using renewable sources as well as…
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Overseas Pakistanis-run Dice Foundation has developed Pakistan’s first electric car and its battery, a prototype of which will be unveiled in the next three to four months, it announced on Friday. Dr Khursheed Qureshi, founder and chairman of Dice Foundation told The Express Tribune that by utilising the expertise of Pakistani diaspora, the country has successfully engineered its first indigenous…
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Tomorrow on first August KANUPP will be shutdown permanently at 1641 hrs. First criticality of KANUPP reactor was achieved on first August 1971 at 1641 hrs. KANUPP belongs to first generation of commercially operated PHWR reactors. Out of first four NPPs, two were installed at Canada, one in India and one in Pakistan. All reactors except KANUPP were shutdown several…
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The Oil Marketing Association Pakistan (OMAP), which is a representative body of the Oil Marketing Companies (OMCs), called on the government again on Friday to remove the anomaly in the levying of the turnover tax applicable to the oil marketing sector by linking it to the margins earned by the OMCs and reducing its rate to 0.25 percent. The Chief Executive…
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Oil Marketing Association Pakistan (OMAP) on Friday once again called on the government to remove the anomaly in the levying of turnover tax applicable to oil marketing sector by linking it to margins earned by the Oil Marketing Companies (OMCs) and reducing its rate to 0.25 percent. Dr. Ilyas Fazil, Chief Executive Officer of OMAP, a representative body of Oil…
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