Month: May 2021

No status-quo breakers as yet

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LAHORE: Power tariffs, bad governance, red tape, middleman, nepotism, and corruption are the key economic challenges that need proper legislation and rule-based governance. This was also the diagnosis of this government when it assumed power in August 2018. However even after 33 months in power the issues not only remain unresolved but have intensified. It has not happened for the first time. The rate of corruption has increased during the tenures of every government that assumed power in the last 25 years. The governance is at its worst in the…

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New petrol price in Pakistan to be determined on May 17: OGRA

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The new prices of petroleum products will be determined on May 17 this month, as opposed to the regular mid-month date (the 15th), a spokesperson for the Oil and Gas Regulatory Authority (OGRA) said on Saturday. The spokesperson said that due to the May 8-16 curbs and Eid holidays, it was decided that the new prices will be decided on Monday, May 17. The prices of petroleum products, will therefore, continue as previously notified, till May 17. Prices kept constant in Ramadan In a bid to give relief to the…

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Is Pakistan preparing for a decarbonised world?

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ALTHOUGH the world’s attention is currently focused on the Covid-19 pandemic, climate crisis remains the planet’s greatest challenge. To strive to limit the global temperature to 1.5°C means halving the CO2 emissions by 2030 and reaching net zero by 2050. But these pledges have clearly fallen short. In fact, it took a pandemic and the resulting economic shutdown to bring global CO2 emission down by 4-8 per cent. The only way out of the conundrum is to decarbonise and to do it quickly. For Pakistan “the time to resist international…

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Big Oil Eyes Wave Of Buybacks After Blowout Earnings

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Crude oil futures have rallied to their highest finish in months, with WTI price climbing above $65 for the first time in two months after OPEC+ stuck with plans to gradually ease production curbs, signaling confidence in the demand outlook. The optimism has coincided with a breakout season for the S&P 500, with the Energy Sector (XLE) being particularly impressive. Indeed, the fossil fuel sector is enjoying a rare blowout season. The majority of companies in the energy sector have beat Wall Street earnings estimates, while more than 80% have managed to surpass…

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Investing in coal power would be an expensive mistake

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Wherever you are on the planet, the last 12 months have been very difficult.In seeking the strongest economic recovery from the pandemic, it is understandable that many on the centre-right in particular want to focus on boosting existing industries. But when it comes to the energy sources of the future, investing in coal power would be an expensive mistake, not just for the environment but for the economy too. Morrison government to pledge another $58.6m to ‘gas-fired recovery’ in budgetRead moreThe environmental case against coal has been well known for…

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