The adverse effects of being glued to the television, newspapers and social media under the current lockdown is starting to show in the form of stress, strain and depression in many. But this may compromise the body leading to decrease in immunity to fight the coronavirus, it has emerged. “I have started trying new recipes and taken up baking,” says…
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Amid the row over capacity payments, the independent power producers (IPPs) have offered the government to carry out a forensic audit by hiring a renowned chartered accountancy firm. In a meeting held between representatives of the IPPs and government officials on Thursday, sources quoted the IPPs as saying that if the government felt that power producers were involved in malpractices,…
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ISLAMABAD: During the much-awaited talks with the independent power producers (IPPs), the government here on Thursday placed a set of demands for material changes in power purchase agreements (PPAs) paving way to reduce the tariff for domestic, commercial and industrial sectors asking to provide ease to the people and making industry stand on its feet, a senior official who was…
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The government is focusing on wrong policy initiatives due to which the circular debt is ever increasing. In fact the recoveries of past years have been shown as increased collection when the regulator adjusted and allowed prior year adjustments in the distribution tariff. The wrong focus is on the generation cost and rewriting of the contracts whereas the actual malaise…
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KARACHI/ISLAMABAD: The Pakistan Sugar Mills Association (PSMA) submitted a detailed response on Thursday to the Federal Investigation Agency (FIA) over the sugar probe report, rejecting it and terming it “one-sided”. In a 45-page letter to the FIA Director-General, the PSMA said allegations leveled against the sugar mill owners were false and that the investigative agency had not included their view…
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The Covid-19 global pandemic has created unprecedented worldwide health and economic crisis. The energy sector, as a critical enabler of modern life, is uniquely affected by this crisis but is also essential for global and national response and recovery efforts. The impact caused by the coronavirus crisis has highlighted how much modern societies rely on energy sources like electricity. Electricity…
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Pakistan’s central bank unexpectedly cut its policy rate for a third time in a month in an attempt to revive economic growth that has stalled because of a lockdown to stop the spread of the coronavirus pandemic. State Bank of Pakistan cut its key target rate by 200 basis points to 9% in an unscheduled meeting, according to a statement…
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DUBAI/RIYADH/WASHINGTON (Reuters) – Finance officials from the Group of 20 major economies agreed on Wednesday to suspend debt service payments for the world’s poorest countries through the end of the year, a move quickly matched by a group of hundreds of private creditors. The actions to freeze both principal repayments and interest payments will free up more than $20 billion…
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