What’s Behind the Planned Uzbekistan-Afghanistan-Pakistan Railway?

From the first tracks laid in 1879 at Gyzylarbat, northwest of the capital of modern-day Turkmenistan, locomotive transport has always been central to Central Asia due to the region’s distance from the open sea. Although first set down amid the expansion of the Russian Empire, today, railways have a central role in the economic planning of the Central Asian states,…

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China’s debt-trap diplomacy: Pak to seek debt relief for power projects

In China’s debt-trap diplomacy, Pakistan is struggling to repay loans for power projects under President Xi Jinping’s Belt and Road Initiative (BRI) and seeks to reschedule as much as USD 22 billion in outstanding credits. In recent years, Chinese loans have fueled a massive buildout of Pakistan’s power generation, financing that has turned a perennial electricity shortfall into a now-massive…

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Circular Debt To Increase Despite A Power Tariff Hike: Mian Zahid Hussain

Karachi (UrduPoint / Pakistan Point News – 24th Feb, 2021) Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said circular debt is increasing despite a hefty hike of 15 percent in the power tariff. He said that remittances are increasing while…

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OGDC’s profit falls 20.5pc to Rs42.2bn in 1HFY21

Net profit of the Oil and Gas Development Company Limited (OGDC) declined 20.5pc YoY to Rs42.2 billion during the first half (July-Dec) of the current fiscal year (FY21) as compared to Rs53 billion earned in the corresponding period of the last year, according to financial results announced by OGDC on Wednesday. The company’s earning per share (EPS) reduced to Rs9.82…

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Govt Opens Energy Market For Power Generation Companies: Omar Ayub

Pakistan Point News – 24th Feb, 2021 ) :Federal Minister for Power Division Omar Ayub Khan on Wednesday said the government plans to open the energy market for the competitive bidding process to be initiated this year soon after the approval of Indicative Generation Capacity Expansion Plan (IGCEP). Addressing Financial Closure ceremony of 250 MW solar power projects, the minister…

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Commercial use of flare gas: Dispute among Ogra members creates stalemate

ISLAMABAD: The disagreement among the Ogra members and its functionaries is pushing the future of flare gas to the danger zone as various sectors of economy, including CNG sector, want to use the commodity knowing the fact the country sustains annual losses of $109.5 million because of failure to use flare gas after its proper treatment. This was stated in…

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Pakistan gets $1.1bn financing to import oil, LNG

ISLAMABAD: With sub-optimal utilisation of earlier $4.5 billion worth of three-year financing framework, Pakistan and the International Islamic Trade Finance Corporation (ITFC) on Wednesday signed a $1.1bn trade financing facility for the current year. Under the Annual Financing Plan, “ITFC will mobilise trade financing of $1.1bn during the year 2021”, said an official statement after the signing ceremony. The financing…

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