Year: 2020

Govt-IPPs deals to have long-run financial impact

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ISLAMABAD: The government’s deals with 47 Independent Power Producers (IPPs), which are yet to be translated into binding agreements, will have a financial impact of Rs 836 billion based on 5 per cent rupee depreciation per annum in 28 years, well-informed sources in Power Division told Business Recorder. In return the government has to clear overdue receivables of IPPs of about Rs 400 billion in one go, for which no financial instrument is available at the moment. In August 2019, the government constituted a committee to look into the issues…

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Debt, Zombies, And Geopolitics: China’s Belt And Road Initiative During COVID

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The Belt and Road Initiative (BRI) has been a focal issue for understanding the foreign policy of the People’s Republic of China (PRC). Some observers view the BRI as representing a new phase of economic globalization and regional economic integration. Others argue that the BRI’s primary motivating factors are domestic and that the massive program is chiefly aimed at creating new markets, maintaining economic stability, resolving regional development imbalances, and transferring industrial overcapacity. Both views have their valid points, but overlook the BRI’s key role in supporting China’s domestic economic…

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UK Company Buys American Energy Supplier

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Challenger energy brand Octopus has today continued its international expansion with its first foray into the massive US market. The firm, which has grown rapidly since launching four years ago and now boasts 1.7m accounts in the UK, has bought American supplier Evolve Energy in a $5m (£3.9m) deal. The acquisition is the first step in a program that will see Octopus invest $100m into the US, with the goal of acquiring 25m US customers on its technology platform by 2027. By 2030, the firm has set itself the challenge…

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A Major Supply Shortage Is Set To Hit Lithium Markets

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Lithium producers do not feel threatened by Tesla’s plan to produce lithium in Nevada. Miners, as well as analysts, believe that despite the recent drop in lithium prices, the industry is in for a supply shortage after 2025 as automakers significantly ramp up electric vehicle (EV) production. Massive amounts of additional lithium supply will be needed to support not only the EV revolution but also the expected surge in stationary battery storage to support the wider adoption of renewable energy. Therefore, lithium mining companies and researchers are looking to develop…

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Govt likely to cut petrol price by Rs2 per litre

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ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has worked out a reduction in the prices of petroleum products (POL) for the upcoming month of October 2020. According to sources, OGRA has forwarded its working paper regarding the next month’s oil prices for necessary feedback. The final decision will be announced by the finance ministry on 30th September (tomorrow) after getting the consent of Prime Minister Imran Khan. The new oil prices will be effective from 1st October across the country. Sources said that the OGRA, in its working paper, had…

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