Year: 2020

ISLAMABAD: In a major development, the three-day Pakistan and Russia talks on 1,122-km high pressure RLNG pipeline from Karachi (Port Qasim) to Kasur (Punjab) ended with amendment in the Inter-Governmental Agreement (IGA) heralding the pavement for new era of strategic relationship between the two countries. Both the sides had earlier signed an Inter-Governmental Agreement (IGA) in 2015 when Russia was to erect the project with 100 percent financing, but after the GIDC verdict by the Supreme Court, and availability of liquidity with Petroleum Division, the Inter-Governmental Agreement has been amended…

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KARACHI: K-Electric (KE) has launched a Rs10 billion investment initiative in power distribution infrastructure titled ‘Project Sarbulandi’ for those parts of the metropolis that suffer from the menace of power theft, the utility said in a statement. “With the vision of eradicating power-theft and the resultant segmented load-shed in Karachi, the Sarbulandi initiative aims to strengthen network health and theft resistance by installation of insulated Aerial Bundled Cables (ABC),” it said in its handout. “This will result in the provision of safe and reliable electricity for the most economically vulnerable…

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ISLAMABAD: The federal government on Monday could not make definite decisions on taking privatisation plan for Pakistan Steel Mills (PSM) and two LNG-fired power plants to the next stage and set up two separate committees to sort out issues hindering their sale for the past two years. The Cabinet Committee on Privatisation (CCoP) met to consider approval of the transaction structure for privatisation of PSM and remove hurdles to the sale of two multibillion-dollar power plants along with other privatisation transactions. Adviser to Prime Minister on Finance and Revenue Dr…

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A parliamentary committee cleared “The China-Pakistan Economic Corridor (CPEC) Authority Bill 2020” with a majority vote despite resistance from the opposition, The News reported on Wednesday. During the NA Standing Committee on Planning and Development, chaired by Junaid Akbar, former minister Ahsan Iqbal presented seven reasons against the creation of CPEC authority. A heated debate ensued but the bill was cleared with a majority. In his dissenting note, Iqbal said the creation of CPEC authority is superfluous and unnecessary. He added that the planning minister discharged the role diligently and effectively in…

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Islamabad, November 18, 2020: The Ministry of Energy (Petroleum Division) of Pakistan and Ministry of Energy of the Russian Federation held first Russia-Pakistan Technical Committee meeting from 16th to 18th November 2020 in Islamabad on mutual cooperation for the development of North South Gas Pipeline Project. The project is a flagship strategic venture between the institutions of Pakistan and Russia which shall strengthen the long term bilateral ties between Pakistan and Russian Federation through people-to-people contact. The Project will begin a new era of economic cooperation between Pakistan and Russian…

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