Month: June 2020

Mian Anjum Nisar President FPCCI and Mr. Sheikh Sultan Rehman Vice President FPCCI seeking feedback from Trade and Industry to find problems emerged out due to COVID-19. The FPCCI is trying to identify ways so that it would be able to support the business community effectively during the COVID-19 pandemic. In this connection, the FPCCI has designed a comprehensive Survey Form which has been sent to trade and industry in order to get the insights on ground realities and issues that badly affected economic growth and trade of Pakistan. The…

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The world is making progress towards Goal 7, with encouraging signs that energy is becoming more sustainable and widely available. Access to electricity in poorer countries has begun to accelerate, energy efficiency continues to improve, and renewable energy is making impressive gains in the electricity sector.  Nevertheless, more focused attention is needed to improve access to clean and safe cooking fuels and technologies for 3 billion people, to expand the use of renewable energy beyond the electricity sector, and to increase electrification in sub-Saharan Africa. The Energy Progress Report provides global dashboard to…

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COVID-19 is likely to cause delay in various power projects as the government has allowed extension in the validity of Letter of Support (LOS) / Financial Closing date of 1,124 MW Kohala Hydropower Project. While briefing the 127th meeting of the Private Power and Infrastructure Board (PPIB) here yesterday, it was informed that various power projects in the pipeline may face delay in accomplishing critical milestones primarily due to COVID-19. Federal Minister for Power Omar Ayub Khan chaired the meeting. A spokesman of the Power Division said that a major…

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KARACHI: Zafar Masud, President Bank of Punjab in his first interview with ‘The Financial Daily’ on Saturday after recovering from the PIA plane crash injuries has thanked Almighty Allah for saving his life in the horrible plane crash just before Eidul Fitr, terming it definite miracle of this century.He said if he was able to know that in which act of his work God saved his life then he will do the same the rest of his life. He said he believes that behind of saving his life are prays…

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For the first time in nearly seven decades, Pakistan’s economy is expected to post a negative growth rate of about 1.6% this fiscal year, the finance ministry said on Tuesday, confirming the recession forecasts by leading global financial institutions because of the coronavirus pandemic. The ministry warned against relaxing the ongoing lockdown in the country, which is in its sixth week. It cautioned that this could increase the infection rate and put unbearable burden on the already exhausted health system. “In the worst-case scenario, the growth rate could remain negative,…

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