Year: 2020

Post-pandemic economic disorder

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LAHORE: Pakistan’s post-pandemic economic performance looked better than its regional competitors because the GDP of the country had already shrunk by 15 percent pre-pandemic. Accumulated demand after lockdown created economic activity. The central bank also provided unusual support in the form of low interest loans to businesses for payment of salaries to their employees. There loan servicing was also deferred. Power and gas tariff were put on hold and interest rates were cut to 7 percent from 13.25 percent although the inflation is still hovering above 9 percent. The government…

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FPCCI seeks competitive energy rates for all industrial sectors

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The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), opposing the Economic Coordination Committee’s (ECC) decision of raising power tariff for the export sector by 1.5 cents amidst downfall of 20 per cent exports, has sought regionally competitive energy tariffs for domestic as well as export industries to capture the global market. FPCCI President Mian Anjum Nisar observed that amid worsening export volumes and halt in domestic industrial growth, the approval of 20 per cent hike in electricity rates to 9 US cents per kWh for the export sector…

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Provision of gas facility to 25 villages, adjacent localities approved: Amin Aslam

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ATTOCK (Dunya News) – Special Assistant to Prime Minister on Climate Change Malik Amin Aslam Saturday said that provision of gas facility to 25 villages and adjacent localities of NA-56 had been approved. While addressing a gathering in Pindigheb, he said the government believed in across the board provision of facilities without any discrimination, adding that that NA 56 constituency remained ignored in past by the so called leaders who served their vested interest but did nothing for local people. He said that oil and gas companies were working in…

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Oil exploration firm accused of breaching agreement

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HARIPUR: Landowners from the remote Sarahdna villagein Khanpur tehsil have criticised a gas exploration company over what they called its failure to fulfil conditions incorporated in the memorandum of understanding(MoU) at the time of land acquisition. They warned that they would stage protests if their demands were not met in two weeks. Located on the eastern bank of Khanpur reservoir at a distance of around 60km from the district headquarters, the Sarahdna village was selected for oil and gas exploration before the MOL Pakistan Oil and Gas Co BV began…

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Petroleum Division Holds Consultations For Unified Strategy On Natural Gas Supply And Pricing

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The division, in a press release issued about the seminar on gas supply issues held recently at the Prime Minister Secretariat, said,”The discourse was very productive and led to suggestions on the way forward for issues pertaining to gas sector of Pakistan.” The seminar witnessed active participation from the Federal Government, parliamentarians, provincial ministers, provincial energy departments, corporate executives and energy experts. In his keynote address, Prime Minister Imran Khan had appreciated the efforts of Minister for Energy Omar Ayub Khan, Special Assistant to the Prime Minister on Petroleum (SAPM) Nadeem Babar and Petroleum Division for holding a thorough debate on gas sector, emphasizing the need to outline…

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