IMF, govt remain engaged

The International Monetary Fund (IMF) and Pakistan remain engaged to conduct technical and data discussions for the sixth review under the Extended Fund Facility (EFF) programme. This was stated by Teresa Dabán Sanchez, IMF Resident Representative in Pakistan while responding to Business Recorder queries. She stated, “IMF team remains engaged with our Pakistani counterparts on conducting technical and data discussions. We stand ready and looking forward to our continued discussions with the Pakistani authorities on the set of policies and reforms that could form the basis for the completion of…

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Alleviating Pakistan’s energy poverty

Dr. John P. Holdren (Adviser on S&T to US President Obama for his double term in office and a distinguished faculty at Harvard and Berkley for over two decades) believes that a society can get into trouble with “energy” either by not having adequate resources or by their costs moving beyond its reach. What Dr. Holden perhaps didn’t expect was that a society can have sufficient endowment of energy resources and still can push the energy out of the reach of its people and economy. Our present energy imbroglio is…

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Shan Foods, ChildLife Foundation carry out plantation drive

In its mission to create a sustainable community, leading food company, Shan Foods, recently conducted a tree plantation activity in collaboration with ChildLife Foundation, a non-profit organization working for affordable healthcare for children in Pakistan. The drive was carried out under Shan Foods’ brand-new CSR identity, Shan Shares, which is committed to playing its part for an economically, environmentally, and socially sustained world in response to the United Nations Sustainable Development Goals. Being a leading global brand, Shan Foods has always upheld a purpose-driven nature, striving to give back to…

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Jauharabad urban forest set to become trail blazer

Granting the status of a ‘model forest’ to the Miyawaki forest planted in Jauharabad town adjacent to Khushab, the Ministry of Climate Change (MOCC) has recommended implementation of similar projects along the motorway, in Multan city its environs. Forest Department SDO Abdul Ghaffar told The Express Tribune that Japanese scientist Akira Miyawaki introduced the method of planting forests in urban areas in 1970. Through the method, forests can be planted on land measuring one marla to a few acres in cities. The idea was promoted in view of the trees’ role as “the lungs…

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Tarbela project extension to meet rising energy demand

Timely completion of Tarbela Hydropower Project will help in meeting the rapidly increasing demand for electricity in the country and improve the energy mix by enhancing the share of clean energy, said Federal Minister for Economic Affairs Omar Ayub Khan. Chairing a high-level meeting to review the progress on the Tarbela Hydropower Project (T5), Dasu Hydropower Project and Dasu-Mansehra-Islamabad Transmission Line on Monday, he directed the authorities to resolve all the pending issues pertaining to the three schemes. The minister told the officials concerned to expedite implementation of the projects…

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Reduction in petrol, high speed diesel prices likely

The prices of petroleum products may go down by up to Rs5 per litre for the next fortnight if the calculations of the Oil & Gas Regulatory Authority (Ogra) are accepted by the government. However, a senior official told Dawn that the Ministry of Finance would oppose any reduction in prices to recoup some of the revenue loss it had allowed early this month through reduction in tax rates. A final decision would be announced by the finance ministry on Tuesday. Petroleum Division sources said the working paper on the prices of…

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Leaded petrol runs out of gas, century after first warnings

The use of leaded petrol has been eradicated from the globe, a milestone that will prevent more than 1.2 million premature deaths and save world economies over $2.4 trillion annually, the UN Environment Programme (UNEP) said on Monday. Nearly a century after doctors first issued warnings about the toxic effects of leaded petrol, Algeria — the last country to use the fuel — exhausted its supplies last month, UNEP said, calling the news a landmark win in the fight for cleaner air. “The successful enforcement of the ban on leaded…

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Govt debt up by 22pc to Rs38.7tr in two years

The central government’s total debt has increased by 21.7 per cent to Rs38.7 trillion during the last two years with a major rise in domestic debt. The data released by the State Bank of Pakistan (SBP) on Monday showed that during the past couple of years, the government’s domestic and external debts stood at Rs38.69tr at the end of the fiscal FY21 compared to Rs31.78tr in FY19. The debts in FY20 were Rs35.1tr. The external debt (in terms of rupees) did not show much difference as it rose to Rs12.42tr…

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Pakistan Petroleum led consortium awarded Offshore Block 5 in Abu Dhabi

Pakistan Petroleum Limited (PPL)-led consortium has been awarded Offshore Block 5 in Abu Dhabi’s second competitive exploration block bid round. Offshore Block 5 covers an area of 6,223 square kilometers and is located 100 kilometers north east of Abu Dhabi city. Besides PPL, who is the Operator during the exploration phase, the consortium consists of three major Pakistani E&P companies: Oil and Gas Development Company Limited (OGDCL), Mari Petroleum Company Limited (MPCL) and Government Holdings (Private) Limited (GHPL). “As per the latest notice on PSX, the consortium comprising of PPL…

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Gwadar Water, Power Shortage

The Makran division of Balochistan has been suffering from critical water and electricity shortages for more than a decade now. Unfortunately, calls for reform and refurbishment have fallen on deaf ears. The provincial government has remained oblivious of the problems that the residents of Gwadar face. On social media, Gwadar is often presented as a developed coastal town with all the latest facilities. However, that is far from reality. The display of pictures on social media only paints half the picture, the other half being that most of the town…

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