Month: September 2020

ISLAMABAD: The Trade and Development Report 2020 (TDR2020) on Tuesday warned that the Covid-19 recesion — measured in terms of world gross product — will likely amount to a $12 trillion loss in global income by end of 2021. Moreover, the growth recovery in 2021 will coincide with rising unemployment, which is likely to reach double digits in some advanced economies, says the report released by United Nations Conference on Trade and Development (UNCTAD). A global recovery plan must be both bold and comprehensive, built around a coordinated macroeconomic expansion focused on…

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The Ministry of Climate Change has launched the Consortium to undertake Third Party Monitoring for its flagship Ten Billion Tree Tsunami Programme (TBTTP). The Government of Pakistan has mandated the Consortium which consists of IUCN, FAO and WWF to conduct the Third Party Monitoring and Evaluation of TBTTP from 2020 to 2024 in Pakistan. During media briefing Malik Amin Aslam, Special Assistant to the Prime Minister on Climate Change highlighted that a key milestone has been achieved with the establishment of the consortium today. The initiative will provide the opportunity…

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ISLAMABAD: The PTI government has decided to increase the salary of Ogra chairman (who is yet to be appointed) by 150 percent to Rs15,00,000 per month from Rs600,000 the ex-chairman had. The members of Ogra that regulates the oil and gas sector of worth $20 billion will be discouraged with huge disparity in salary structure between Ogra members and its chairman as the qualifications and the experiences of members and chairman are the same. Ogra’s every member has salary of Rs600,000 per month and chairman had the same salary but…

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KARACHI: A public hea­ring of the National Electric and Power Regulatory Auth­o­rity (Nepra) seeking amendment to K-Electric’s licence was marred on Monday as public representatives and political leaders demanded that the federal government allow more power supply companies to operate in Karachi, while the city’s lone power utility termed the move to end its exclusivity “violation” of the agreement. Participants, who apparently also included a sizeable number of power utility supporters, kept on chanting slogans intermittently, with Nepra chairman Tau­seef Farooqui asking them to show some restraint and not to…

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ISLAMABAD: As the government struggles to translate memorandums of understanding (MOUs) signed with the Independent Power Producers (IPPs) of thermal and renewable power plants for tariff discounts into contracts, sponsors of hydropower power plants (HPPs) have declined to revise old agreements with the government. A senior government official told Dawn that sponsors of HPPs had three to four sessions with the IPPs negotiations committee led by former federal secretary Babar Yaqoob and comprising members of stakeholders and agencies appointed by the government to negotiate power contracts. However, nothing had been finalised yet, he said.…

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