Year: 2020

THE proposal to stop connecting domestic gas consumers to the extensive pipeline network of SSGC and SNGPL in future as part of the broader national energy-sector reform plan has been on the table for some years now. The suggestion was put forward to bridge the growing supply gap during winter on account of fast-depleting indigenous resources and the increasing demand of fuel but was never implemented for fear of a backlash. With worsening winter gas shortages a permanent part of our energy crisis for over a decade and a half,…

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ISLAMABAD: The Auditor General of Pakistan has alleged that the contract of Mohmand Hydropower Project to M/s CGGC-DESCON (JV) was awarded without adequate fair competition. The AGP, in its audit report of FY 2019-20, said that as clarification of PPRA “whenever a procuring agency is confronted with such a situation whereby the rate quoted by a single bidder cannot be compared so as to declare it as the lowest rate or otherwise, it may make prudent decision.” AGP said that while making a decision, the following factors may be kept…

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According to the IMF’s World Economic Output 2020 released recently, China has now overtaken the US to become the world’s largest economy. Yes, you read that right. The International Monetary Fund (IMF), using the more reliable and now widely accepted yardstick, called the Purchasing Power Parity (PPP), has determined China’s economy at $24.2 trillion compared to America’s $20.8 trillion. The PPP calculation method used by the IMF enables you to compare how much you can buy for your money in different countries. The economists have traditionally been using MER (market…

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