The Pakistan Tehreek-i-Insaf (PTI) government on Friday unveiled Rs 8.4 trillion pro-growth and relief-oriented federal budget for the fiscal year 2021-22, with focus on pursuing all-inclusive, sustained and robust economic growth through comprehensive planning and development. The budgetary proposals were presented by Finance Minister Shaukat Tarin in the National Assembly, amid jeers from the opposition benches who shouted slogans and…
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Thermal power generation has become the largest source of power generation in national electricity generation mix as the shares of hydro, nuclear and renewable power have declined in FY2021 as compared to FY2020. According to Pakistan Economic Survey 2020-21, currently thermal has the largest share in electricity generation and its percentage share in FY2021 has increased by almost one percent…
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The International Gas Union’s (IGU) recent report on world LNG markets found that the trade increased by only 1.4 mt to 356.1 mt compared to 2019 supported by increased exports from the US and Australia, together adding 13.4 mt of exports. Asia Pacific and Asia again imported the most volumes in 2020, together accounting for more than 70% of global LNG imports.…
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An accountability court in Quetta remanded former chairman Balochistan Development Authority and former security officer of Tethyan Copper Company into National Accountability Bureau’s custody for 15 days in the Reko Diq scam case. The accused persons were arrested from Islamabad four days ago. During the hearing, Judge Munawar Shahwani approved the anti-graft watchdog’s remand plea. It is pertinent to mention…
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Production cuts by OPEC+ countries, coupled with rising demand from reopening industries worldwide, are driving up oil prices. And oil’s upbeat prospects are helping the oil and gas industry reclaim investors’ attention. As such, we think popular oil and gas corporation Exxon Mobil (XOM), and China Petroleum & Chemical (NYSE:SNP), are well-positioned to capitalize on the industry tailwinds. But let’s…
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KARACHI: Water management is one of the biggest issues that Pakistan has been facing in recent decades. At the moment, our water storage capacity is close to 10 per cent, which is very low compared to the world, where the average is about 40pc. This was stated by Malik Amin Aslam, special assistant to the prime minister and federal minister…
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Water and Power Development Authority has successfully completed construction works to clear sedimentation by raising the intakes of two tunnels at Tarbela Hydel Power Station ahead of schedule. According to the spokesman of Authority, these construction works funded by the World Bank are aimed at increasing reliability of electricity generation from Tarbela Dam. He said with the completion of these…
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Special Assistant to Prime Minister on Power and Petroleum, Tabish Gauhar has termed new Pakistan Stream gas pipeline project critical to the country’s energy supply ecosystem. In a tweet on Wednesday, the SAPM said, “A recently signed protocol to the intergovernmental agreement (IGA) with Russia is a step forward.” He further said, “Our local companies (SNGPL, SSGC, PAPCO) are also…
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The government has announced a cut in sales tax rates on kerosene oil and light diesel oil in order to absorb the price hike on petroleum products. In this regard, the Federal Board of Revenue (FBR) has issued SRO 726(I)/2021 to comply with the decision of the government for keeping the POL prices intact by absorbing a hike in prices…
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Parliamentary Secretary for Textile, Commerce, Industries and Production and Board of Investment, Aliya Hamza Malik on Wednesday said that Pakistan Tehreek e Insaf (PTI) government under the leadership of Prime Minister Imran Khan, was working on projects to generate electricity at cheaper rates. “Various Hydro power projects are under consideration to generate electricity at cheaper rates,” she said while responding…
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