Month: April 2021

Britain to ban entry from Pakistan, three other countries from April 9

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Those who come to Britain from countries on the red list will be refused entry, while returning Britons must submit to 10 days of mandatory quarantine in hotels. In his message, Turner said that direct flights between Pakistan and the UK would continue to operate but schedules could change. During their quarantine, people from red list countries will have to get tested for the coronavirus twice. However, a negative test result does not mean they will be allowed to shorten the time they stay under quarantine, according to the BBC. From 4am…

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Flagship CPEC power transmission line shelved till Sept

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LAHORE: The launching of flagship China Pakistan Economic Corridor (CPEC) 4,000mw South-North transmission line project has been delayed to September 2021, making grid stability and power affordability another pipe dream for now, The News has learnt. The delay has been attributed to outstanding work, pending on the part of both state-owned transmission company and the contractor. According to the Memorandum of Understanding signed between National Transmission and Despatch Company (NTDC) and the Chinese company, Pak Matiari-Lahore Transmission Company Pvt Ltd (PMLTC), it is clearly mentioned in the clause 6 that:…

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World Bank approves $120m for green initiative

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A funding of $120 million has been approved by the World Bank for Prime Minister’s Green Stimulus Initiative and it can be utilised by Pakistan to boost green jobs for workers who have been laid off due to Covid-19, said World Bank Country Director for Pakistan Najy Benhassine. Talking to Special Assistant to Prime Minister on Climate Change Malik Amin Aslam on Thursday, he recommended the government to engage unemployed people in the country’s green projects, which were being implemented for conservation and protection of the nature. “World Bank is…

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Why hike in power rates?

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Power rates hike in an economy like that of Pakistan not only further depresses the national economy, but also inflicts inflationary effects on general price structure for the common man of the country. It is a single factor, which adversely hits the lives of the poor and middle level citizens. The industry and agriculture are seriously affected in costs of production, resulting in the consequential impact. An analysis of the factors resulting in power rates would boil down to mismanagement of the power system,  especially due to high technical losses…

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PLL gets 42 bids for LNG cargoes under new pricing mechanism

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ISLAMABAD: Pakistan LNG Limited (PLL) has received 42 bids from a record 12 international traders for the eight liquefied natural gas (LNG) cargo deliveries between April 30 and June 28 against prices that are significantly higher than comparable period last year. According to the bidding results finalised by PLL, Eni SpA of Italy secured three cargoes with the lowest prices while Qatar Petroleum and PetroChina won two cargoes each. Vitol Bahrain grabbed one cargo. This was the first time that the LNG importer had sought open tender in fixed dollar…

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