Day: July 15, 2021

New Mexico, the Land of Enchantment, was concerned when Biden’s pause on oil and gas drilling leases took hold, but six months into the new administration the state’s oil industry continues to go from strength to strength. After uncertainty about political decisions concerning oil and gas, following a year of low demand that drove down both oil prices and production levels, New Mexico has surpassed North Dakota as the second-largest oil producer in the U.S. following a boost in oil production this spring, not seen since the pre-pandemic period. At…

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The government has released 100 percent funds for various water resources, National Transmission and Despatch Company (NTDC) and Pakistan Electric Power Company (PEPCO) projects allocated under the Public Sector Development Programme (PSDP 2020-21). According to the data of Planning Commission, an amount of Rs71,734.046 million was allocated for various water resource sectors during the last fiscal year. Out of total allocation, domestic share was Rs58,236.046 million while foreign component was Rs13,498 million. An amount of Rs58,036.954 million was released from domestic share while Rs13,901.401 million was received under foreign components…

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The government has decided to amend Pakistan Penal Code (PPC) Act 1860 with a view to nabbing consumers allegedly involved in electricity theft through an order of a court on the application of not below grade 17 officer. However, the amendment is being opposed by parliamentarians on grounds that with this amendment the government intends to hide its poor performance and protect corrupt elements by shifting responsibility on consumers. In 2020-21 Discos’ inefficiencies have increased by over 28 per cent – to Rs 54 billion from Rs 42 billion in…

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Pakistan and Uzbekistan on Wednes­day agreed to finalise bilateral Preferential Trade Agree­ment (PTA) within three months to further boost bilateral trade volume. At the 6th meeting of the Uzbek-Pakistani Intergo­v­ernmental Commission on Trade-Economic and Scientific-Technical Cooperation (IGC) held in Tashkent, both sides agreed to form joint working groups on agriculture, information technology, education and mineral sectors to boost cooperation, said a news release issued here. The meeting was co-chaired by Deputy Prime Minister and Minister of Investments and Foreign Trade Sardor Umurzakov and Commerce Adviser Abdul Razak Dawood. Mr Umarzakov…

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