Prime Minister Imran Khan Friday said despite the 2018 worst balance of payment crisis, economic problems due to Covid-19, high commodity prices in international market and direct and indirect impact of humanitarian crisis in Afghanistan, Pakistan was expected to achieve over four percent economic growth – which was a major success. “Since we inherited a huge circular debt, ant-export policies,…
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During the month of December 2021 two warnings of impending sea level rise were issued by highly respected groups of climate scientists. These are professional scientists who do not deal in hyperbole. Rather, they are archetypical conservative serious-minded scientists who follow the facts. The most recent warning on December 30th is of deteriorating conditions at the Arctic and Greenland. The…
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According to the working done by the All Pakistan Textile Mills Association (APTMA), the Punjab textile sector has sustained losses of $250 million in exports because of suspension of gas supply in December 2021. Shahid Sattar, Executive Director, APTMA, when contacted, confirmed that $250 million worth of textile exports were lost last month, which will never be recovered after mills…
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A two-day follow-up training workshop for the officer and engineering professionals of DISCOs (Distribution companies) was arranged on Friday under the banner of Power Sector Centre of Excellence (PSCE) established at LUMS in Lahore. PSCE is a training and knowledge hub founded jointly by CPPA-G (Central Power Purchasing Agency) and LUMS Energy Institute (LEI). The training was attended by 80…
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The Saindak Copper-Gold Project has generated a profit of $74.71 million by collecting revenue of $550,000 against 16,426 tonnes of blister copper out of 5 million tonnes of concentrating tasks during last year. This was disclosed on Friday by chairman of the Metallurgical Construction Corporation (MCC) Resources Development (Pvt) Limited (MRDL), He Xuping. He said that taking advantage of the…
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Col. (R) Muhammad Tariq Khattak, Chairman Renewable & Alternative Energy Association of Pakistan (REAP) today (Friday) briefed the following Senators of Finance Revenue and Economic Affairs, Standing committee along with the Chairman FBR, at Senate Islamabad, Senator Muhammad Talha Mahmood, Chairman, Senator Syed Faisal Ali Subzwari Senator Ms. Sheri Rahman, Senator Mohsin Aziz Senator Farooq Hamid Naek Chairman FBR The…
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The crude oil respite has so far appeared short-lived, putting the government in a tight spot again, in terms of the import bill and the revenue collection target on petroleum products. As oil marches back to $80/bbl. and onwards, the hopes of substantially raising petroleum revenues stand to get a setback. This is despite the government’s plans to raise Petroleum…
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M/s Hubco has served dispute notice to Central Power Purchasing Agency –Guaranteed (CPPA-G) under Power Purchase Agency (PPA) on deductions made in the company’s Capacity Purchase Price (CPP) invoice for the period of July-September 2021, well informed sources told Business Recorder. M/s Hubco’s Chief Executive Officer (CEO), Kamran Kamal, in a letter to CEO, CPPA-G has elaborated on the reasons for…
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Power Division is said to have paid over Rs 60 billion to 12 IPPs of Power Policy 2002, 40 per cent of total agreed amount as first instalment, well informed sources told Business Recorder. The following IPPs has been paid 40 per cent of the agreed amount: (i) Atlas Power- RFO; (ii) Attock Gen- RFO;(iii) Engro Energy-gas ;(iv) Saif Power- RLNG…
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Minister of State for Climate Change Zartaj Gul Thursday said the incumbent government is committed to protect public health and environment from devastating impacts of toxic chemicals and hazardous waste materials through their management in scientific manner. Addressing a national event here, the state minister noted that management of hazardous waste materials in improper and unscientific manner over the years…
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