Prime Minister Imran Khan has said Pakistan will host the “World Environment Day” on the fifth of next month and showcase the steps it has taken to deal with the issue of climate change. Attending a ceremony in connection with Ten Billion Tree Tsunami Program in Haripur on Thursday, he said this is also a mark of recognition that Pakistan…
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In a major development, Pakistan and Russia are set to formally sign tomorrow (May 28) in Moscow the amended Inter-Governmental Agreement (IGA) for the flagship project of North-South Gas Pipeline (NSGPP). Soon after the formal signing, the pipeline project will be renamed as Pakistan Stream Gas Pipeline (PGSP). The cost of the project has been estimated at $2.25 billion by…
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A ship full of hazardous materials arrived on Wednesday in the coastal town of Gadani located in Balochistan’s Lasbela district despite repeated Interpol warnings. The Deputy Commissioner of Lasbela has taken notice and ordered concerned authorities to conduct an inquiry into how a ship filled with hazardous materials can be docked at Gadani Shipbreaking Yard. According to sources familiar with…
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The government is taking various measures to develop a more reliable and efficient power generation, transmission and distribution system in the country, said Minister for Economic Affairs Omar Ayub Khan. Chairing a meeting of the National Coordination Committee on Foreign-Funded Projects (NCC-FFP) on energy sector on Wednesday, he said that the government was committed to tapping the immense potential of…
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For the second month running, electricity fuel tariff monthly adjustment has returned negative value. April 2021 generation and cost of generation data is out, and it shows 24 percent year-on-year increase in electricity generation. Bear in mind that any year-on-year comparison with April of last year would render little to no meaning, given Covid circumstances. That said, there undoubtedly has…
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This was revealed by the Parliamentary Secretary for Aviation Division, Jamil Ahmed Khan during the National Assembly session on Monday. He apprised the parliament during the Question Hour that North Air has been given a license for the promotion of tourism and regional integration (passengers and cargo). Currently, the company is in the process to acquire an air operating certificate…
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Last week, the International Energy Agency (IEA), the world’s leading energy authority, laid bare the scale of the challenge in keeping the world on track to achieve net-zero emissions by 2050: a massive acceleration in renewable energy development and, starkly, no new oil, gas or coal development. None. For as long as coal remained cheapest, the IEA consistently predicted that…
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After the oil scam, another scam could emerge as the Petroleum Division has amended the draft of LPG Policy 2021 that appears to favour an influential LPG importer by waiving regulatory duty and advance tax on imports via sea. According to the amended draft, a copy of which is available with The Express Tribune, the Petroleum Division has introduced measures…
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The circular debt has recorded a major drop of Rs189 billion during the first 10 months of ongoing financial year 2020-21 compared to the same period of previous year. The total circular debt stood at Rs2.41 trillion till April this year. The major portion of circular debt build-up amounting to over Rs100 billion was on account of unpaid and unbudgeted…
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Oil marketing companies (OMCs) are paying significantly higher than the 29 percent corporate tax rate in the country because of anomalies in turnover taxation, an independent think-tank said on Tuesday.https://1268e33ab907a8782476efdd4c2cb408.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html In a report, Islamabad Policy Institute (IPI) said the turnover tax is effectively negating the provisions of Section 57 of the Income Tax Ordinance, 2001 and is putting a significant…
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