Day: June 11, 2020

MANILA, PHILIPPINES (10 June 2020) — The Asian Development Bank (ADB) has approved a $500 million loan to help the Government of Pakistan deliver social protection programs to the poor and vulnerable, expand health sector capabilities, and deliver a pro-poor fiscal stimulus to boost growth and create jobs as the country fights the novel coronavirus disease (COVID-19) pandemic. “The COVID-19 pandemic hit Pakistan at a critical point in its ongoing economic recovery program,” said ADB President Masatsugu Asakawa. “We are fully committed to supporting Pakistan through this difficult period. This…

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LAHORE: Nestlé Pakistan recently published its ‘Nestlé in Society: Creating Shared Value (CSV) 2019 report highlighting its three main focus areas globally: for individuals and families, for communities, and for the planet. Talking about Nestle’s Creating Shared Value (CSV) philosophy, Waqar Ahmad, Head of Corporate Affairs, Nestlé Pakistan, said, “Our CSV initiatives are geared towards addressing the challenges faced by the country, in line with the United Nations Sustainable Development Goals (SDGs). Nestlé Pakistan is playing its role in community engagement and enhancement through various programs for its focus areas.”…

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Adani Green Energy, part of India’s Adani Group conglomerate, will build 8 gigawatts of large-scale solar capacity worth $6 billion in India over the next five years, after winning the world’s largest solar energy tender award this week. The Solar Energy Corporation of India (SECI), a government body responsible for delivering India’s 100-gigawatt solar target for 2022, selected Adani Green in a tender designed to give a boost to India’s solar manufacturing sector. Adani Solar, the Adani Group’s separate PV manufacturing arm, will build an additional 2 gigawatts of domestic…

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Electric cars from renowned automakers cost a fortune and there are plenty of import-related hassles that you have to go through, however, there’s an electric car that costs under $1,000. It is China made and can be ordered through Alibaba. An American citizen, Jason Torchinsky, ordered the same from a Chinese manufacturer called Changli. He, however, was left a little awe-struck when the electric car came packed in a box. Not sure how it would perform, he unboxed the EV and was quite surprised to find out that it has…

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As consumers across the country face difficulties due to petrol shortage, the government is currently contemplating completely deregulating pricing and marketing of petrol. According to a report published in Dawn, the government is considering doing away with uniform pricing of petrol and deregulating it in line with other petroleum products like HOBC which are already deregulated. Recently OMC’s have come under severe criticism for their alleged collusive behavior that has seen the price of hi-octane blending component (HOBC), to increase to Rs148-160 per litre. While the government slashed petrol prices…

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