Year: 2020

Auto DraftDrastic measures proposed to contain circular debt

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ISLAMABAD: The Power Division on Tuesday took the Federal Cabinet in confidence over a string of measures to contain pace of increase in the circular debt and suggested some unpopular proposals for curtailing capacity payments to independent power producers (IPPs). The cabinet meeting chaired by Prime Minister Imran Khan took a special briefing from Planning and Development Minister Asad Umar and Special Assistant on Power Shahzad Qasim over the rising capacity payments to IPPs, which is one of major cause of circular debt. The proposed plan includes seven or eight…

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With Glaciers Melting And Temps Soaring, Pakistan Pursues Big Action On Climate Change

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On her first foray into tree planting, Laiba Atika forgot a key item — a shovel, which her mom later fetched. But the 17-year-old is clear about why she is leading volunteers in the northern Pakistani city of Mardan to plant dozens of pine trees in a scrubby park. “It’s our duty as citizens,” she says in formal English, “to implement actions that can make planet a better place to live in.” “It’s our duty as citizens,” says Atika in formal English, “to implement actions that can make planet a…

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Deadly Armenia-Azerbaijan clashes unlikely to cause an oil spike, analyst says

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Deadly clashes between Armenia and Azerbaijan are unlikely to result in major disruptions to energy production and supplies, analysts say, despite the region being a critical corridor for pipelines transporting oil and gas to the global markets. “There is not really much anticipation that this will boil over into something more serious for oil and commodity markets,” Edward Bell, a senior director at Dubai-based Emirates NBD bank, told CNBC. “If the geopolitical premium is not already in the price, I don’t think we’re going to see much reaction here on…

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Oil rises on economic recovery hopes, Covid-19 keeps prices in check

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Oil prices edged up on Monday as global equities rallied on hopes for another U.S. stimulus package, but rising virus cases fed concerns about fuel demand and kept oil futures from moving higher. Brent crude settled 51 cents, or 1.22%, higher at $42.43 per barrel. West Texas Intermediate settled 35 cents, or 0.9%, higher at $40.60 per barrel. “There is some renewed hopes that the Democrats and the Republicans can get a relief bill put together and that seems to be raising expectations that the (oil) demand outlook is going…

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Oil slides more than 3% as virus cases mount

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Oil prices on Tuesday fell more than 3%, although closed off their lowest levels of the day, on worries about the outlook for fuel demand as Europe and the United States grappled with a surge in new coronavirus infections. Stock and commodities investors remained cautious ahead of the first U.S. presidential debate between Democrat Joe Biden and Republican Donald Trump later on Tuesday. The energy market was also waiting for weekly updates on U.S. crude stockpiles from the American Petroleum Institute (API) on Tuesday and the Energy Information Administration (EIA)…

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