Promoting Sustainable Construction Sector

A year after the COVID-19 pandemic, the construction sector has shown robust growth and contributed to the revival of economic activity in Pakistan. The housing and real estate activity has taken off on the back of an incentive package and low-cost housing projects announced by the government. Till October last year, a total of 127 projects had been registered at an estimated cost of Rs.63 billion to avail the scheme. In addition, a further 114 projects worth around Rs.109 billion were also under the process of being registered. Economic revival…

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Electricity workers observe Safety Day

The Safety Day was observed all over the country on Thursday to highlight the issues of Electricity/Wapda workers. The Safety Day was observed under the aegis of All-Pakistan Wapda Hydro Electric Workers Union CBA for the safety of field staff working on electricity lines, grid stations and power houses. Recently, two linemen died of electrocution on Faisalabad Road sub division and Phool Nagar sub division while two members of the line staff were burnt in Sukkur and Larkana while working on 11KV line while some of the employees had become…

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Power base tariff to be further raised, govt told

ISLAMABAD: The federal government has assured the International Monetary Fund (IMF) that it will further increase power base tariff by Rs 1.39 per unit from June 1, 2021 in addition to quarterly and monthly adjustments while acknowledging that adjustments of energy tariffs brought them closer to cost recovery. This was disclosed in the second to fifth staff reviews under the extended fund facility arrangement and request for re-phasing of access uploaded on the IMF website Thursday. To strike a balance between achieving cost recovery and softening the social and economic…

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Punjab govt to buy electricity from private sector

The Punjab government has decided to buy electricity from the private sector.According to the official documents, the provincial government will purchase electricity, produced from solar power, from the private firms which are currently generating 1,300 megawatts of electricity. A grid company would be set up for the distribution and transmission of the electricity after its purchase. Punjab Grid Company would purchase electricity, and it would be responsible for transmitting it to the consumers and billing. Documents tell that due to the power generated from solar energy, not only the burden…

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Pandemic economy

LAHORE: The developed economies are exhausting their resources to minimise the impact of Covid-19 on their citizens, but they have little cash for poor nations who have to cope with Covid-19 impact on their own. At the same time the global commodity rates are on the rise. Steel and other metals prices are increasing. Global food prices registered rise for the tenth straight month. All this is happening at a time when our food import bill has reached historic high. Three years back we had a competent -though corrupt- bureaucracy.…

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Oil & Gas Middle East to introduce paywall from May

Oil & Gas Middle East will next month introduce a paywall across its website. Readers will be able to unlock unlimited access to Oilandgasmiddleeast.com for $14.99 per month to enjoy the market-leading content we strive to create. The move is recognition of Oil & Gas Middle East’s status as an authoritative media brand for the Middle East’s upstream sector, informing industry stakeholders across the supply chain. The paywall will enable the Oil & Gas Middle East team to invest further in its content while also helping to provide a more…

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China drills deep in disputed South China Sea

Chinese scientists on a marine research vessel used China’s home-made “Sea Bull II” drilling system to obtain a sediment core 231 metres (253 yards)long at a depth of 2,060 metres (6,760 feet), the official Xinhua news agency said. The system can help explore natural gas hydrate resources in the seabed, Xinhua added, referring to the solid ice-like crystals formed from a mixture of methane and water that are touted as a promising source of energy. It was unclear exactly where the drilling took place in the South China Sea, around…

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IMF report: SNGPL, SSGC arrears to rise by 0.6pc of GDP

International Monetary Fund (IMF) has projected that arrears of state owned gas companies – Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company (SSGC) will rise by 0.6 percent of GDP by the end of financial year 2021-22 due to higher cost-revenue mismatch as more liquefied natural gas (LNG) has recently been diverted from the high price power sector to low price domestic users. The IMF report for second to fifth reviews prepared by a staff team of the Fund for the Executive Board’s consideration on March 24…

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No privatisation, no sale of DISCOs shares: Govt to hand over management of DISCOs to private sector

ISLAMABAD: The government will neither privatize its all electric power distribution companies (DISCOs) nor sell out their shares as well, rather it will hand over management of every company and outsource the high losses feeders to the private sector. This will ensure to make DISCOs efficient by scaling down losses and increasing the recovery of the billed electricity to consumers to make the power sector sustainable.” Special Assistant to the Prime Minister on Power and Petroleum Mr Tabish Gauhar disclosed this to The News in an interview here on Thursdays.…

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Rawalpindi to get 100 electric buses

A comprehensive plan has been formulated on Punjab Chief Minister Usman Buzdar’s directives to provide international standard public transport to citizens living in major cities like Lahore, Rawalpindi, Faisalabad, and Multan. According to details, 100 electric buses will be run in Rawalpindi to modernise these cities’ transport system for which a new route plan will be designed. Route No. 1 will be from Saddar to New Airport Islamabad. Route No. 2 from Rawat to Saddar, Route No. 3 from Faizabad via IGP Road to Airport and from Sangjani to Radio…

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