Day: September 24, 2020

KARACHI: Pakistan’s hub of economic activities, Karachi, continued to face prolonged power outages on Wednesday that badly crippled industrial output at a time when the economy is poised to recover from the historic Covid-19 depression. K-Electric, the sole power production, transmission and distribution firm responsible to supply power across the city of ports and other parts of Sindh and Balochistan, failed to meet the energy needs as it cited low gas pressure as reason for the outages.  It has held the Sui Southern Gas Company (SSSGC) responsible for the power…

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The federal government has waived the guarantee fee on the Chinese loans being taken to construct two nuclear power plants in Karachi and also sought a report on the total outstanding employee-related liabilities of the Pakistan Steel Mills (PSM).  The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved to write off 0.5% guarantee fee on the foreign loans of the K2/K3 projects. The decision will help reducing the power projects construction cost by Rs12 billion, said a handout of the Ministry of Finance.  Adviser to the Prime Minister…

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A mine will always impact the environment, but the question is to what degree? The responsible management of natural resources and ecosystems such as soils, plants, animals, water and air, and the services they provide, is central to the efforts of any society seeking to become more sustainable. The Intergovernmental Forum on Mining “IGF” has identified four issues that governments could effectively manage to reach sustainability goals. Water Management Biodiversity and Ecosystem Services Mine Waste Management Emergency Preparedness These four key issues are critical for governments and communities to consider to ensure…

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India used the ultra-low crude oil prices earlier this year to top its strategic petroleum reserves with oil at $19 a barrel, saving nearly US$700 million in the process, India’s Ministry of Petroleum and Natural Gas said on Monday. “Taking advantage of the low crude oil prices in international market, India purchased 16.71 million barrels (mbbl) of crude in April – May, 2020 and filled all the three Strategic Petroleum Reserves created at Vishakhapatnam, Mangalore and Padur,” the ministry said in a statement, quoting Oil Minister Dharmendra Pradhan as telling…

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