Month: March 2020

The shifting of coal handling from Karachi Port Trust to Port Qasim under the order of Supreme Court has greatly benefited the national economy. It has been learnt that Port Qasim Authority (PQA) received US 19.4 million dollars equivalent to PKR 2,644 million in terms of royalty payments (on coal handling at PIBT) during FY 2018-19 whereas during the first half Financial Year (2019-2020) the contribution stands at $10 million equivalent to PRK 1,572 million. “During FY 2018-19, we have successfully handled 8,553,410 tons cargo against 2,745,048 tons in 2017-18…

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The Khyber Pakhtunkhwa government has completed construction of 290 Mini Hydel Power Stations (MHPSs) while 66 more mini-power stations will be completed in June this year. This was told in a meeting held here to review the overall performance of Energy and Power Department with Chief Minister Mahmood Khan in the chair. The chief minister was given detailed briefing on the performance of the department with special focus on KP Oil & Gas Company Limited (KPOGCL) and Pakhtunkhwa Energy Development Organization (PEDO). Provincial minister for Finance, Taimur Saleem Jhagra, Advisor…

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Singapore — The sharp fall in spot LNG prices to record lows is forcing Pakistan to weigh options on whether to cancel or renegotiate term deals, with policymakers and industry officials saying that entirely backing out of contracts may provide short-term gains but will bring pain in the longer term. Although oil-linked deals in a low-priced environment is forcing Pakistan to pay more than levels at which it can currently source cargoes from the spot market, the country’s fast-growing LNG consumption means Pakistan has to work toward strengthening relations with…

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PARIS: Pakistan is ranked among three worst-affected Asian countries by a ‘pandemic’ of air pollution that shortened lives, according to a news research published in the journal Cardiovascular Research on Tuesday. Scientists warned that air pollution shortened lives worldwide by nearly three years on average, and causes 8.8 million premature deaths annually. They added that the worst-hit region is Asia, where average lifespan is cut 4.1 years in China, 3.9 years in India, and 3.8 years in Pakistan. Eliminating the toxic cocktail of molecules and lung-clogging particles cast off by burning…

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In the last one year, the federal government has been pushing up petroleum prices almost every month, making life difficult for commuters. But there was a valid reason to do so. The price of oil, internationally, was just as eye-watering. As global oil production nosedived in 2019, its wholesale cost shot up. The Organisation of Petroleum Exporting Countries (OPEC) and its allies began cutting oil output to boost up prices. Then, there were the US sanctions on Iran and Venezuela and the unrest in Libya. However, since mid-February, global oil…

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