KP to participate in Dubai Expo

 The Khyber Pakhtunkhwa government will participate in the Dubai International Expo in the United Arab Emirates with the aim to attract maximum foreign investment to the province and to highlight the positive image of the province at the international level. A meeting to discuss arrangements and preparations for participation in Dubai Expo was held under the chairmanship of Chief Minister Khyber Pakhtunkhwa Mahmood Khan here on Tuesday. Additional Chief Secretary Shahab Ali Shah, Principal Secretary to the Chief Minister Amjad Ali Khan, Secretary Industry Humayun Khan, Director General Culture and…

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Subsidy reform: The right first step

The first phase of power sector subsidy reforms is now only a matter of government’s notification before it gets implemented. Nepra issued its determination on the Ministry of Energy’s request to incorporate modifications in discos’ tariffs, as a first step towards rationalizing the ever-growing untargeted power sector subsidies. Recall that the authorities had principally agreed to undertake a comprehensive subsidy reform in a phased manner, under the IMF program. The first phase was a prior action and got delayed but is now back on track. The first phase is “aimed…

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Indecision and delays parents of failure?

State Bank of Pakistan (SBP) announced revised prudential regulations for consumer financing designed to moderate imports and demand that could possibly have a negative impact on growth. This concern was reflected in the most recent Monetary Policy Statement stated 20 September 2021: “since its last meeting in July, the Monetary Policy Committee noted that the pace of the economic recovery has exceeded expectations. This robust recovery in domestic demand, coupled with higher international commodity prices, is leading to a strong pick-up in imports and a rise in the current account…

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GST dispute on power subsidy: ECC to give its decision on legality

The Economic Coordination Committee (ECC) of the Cabinet is to give its verdict on legality of longstanding dispute on sales tax collection on subsidy being provided by the federal and provincial governments to consumers, well-informed sources in Nepra told Business Recorder. Distribution Companies (Discos), being licencees of Nepra, are bound to charge the tariff determined by the latter and notified by federal government. Nepra determines tariff for Discos on “cost of service “basis and Government of Pakistan further subsidize the tariff determined by Nepra. This is the tariff which is finally…

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CPEC: Regional Security Powers & Paradoxes | By Dr Mehmood Ul Hassan Khan

IT seems that the “abrupt” fall of Kabul has “flustered” the regional as well as international power politics due to which there are some symbolic re-arrangements of security meetings, pacts and alliances now going around the world. Chess-board of “power politics” is going to have new set-up to “topple” and “contain” Chinese socio-economic commitments towards greater regional connectivity, socio-economic integration and eradication of poverty through its “One Belt One Road Initiative” (BRI) and China-Pakistan Economic Corridor (CPEC). Thus self-defined “China Threat Theory (CTT)” of the West & US is being…

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Pakistan’s external debt rises $26 billion in three years

Pakistan witnessed an increase of $26 billion during the first three years of the present PTI government. Economic Affairs Division additional secretary Zulfikar Haider stated this in a meeting of the Standing Committee of the National Assembly for Economic Affairs Division held under the chairmanship of Mir Khan Muhammad Jamali. The additional secretary briefed the meeting on the impact of the rupee depreciation on domestic and external liabilities. In June 2018, the total external debt of the country was $96 billion, which now reached the level of $122.44 billion after…

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SA denounces petrol, CNG, LNG price hikes

The Sindh Assembly denounced on Monday the increase in CNG and LNG prices by the federal government. As the house took up debate on the matter, the treasury benches and lawmakers of the Grand Democratic Alliance from the opposition aisle demanded of the Centre to withdraw its decision to increase prices of both the liquified natural gas (LNG) and compressed natural gas (CNG) without delay. Moving an adjournment motion against petrol, CNG and LNG price hikes, Pakistan Peoples Party, which leads the Sindh government, lawmaker Sadia Javed and GDA’s Nand…

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Jack-Up Drilling Rigs Set For LNG Conversion

Aberdeen-based offshore rig inspection company ADC Energy has won a contract with an undisclosed USA-based LNG company to identify and select offshore drilling rigs suitable for conversion for LNG operations. ADC Energy said that it had already begun conducting audits to identify suitable drilling rigs as part of this contract. The deal involves international engineering teams selecting a range of drilling rigs that may be suitable for repurposing before assessing their design, condition, and operability. The company added that it would also advise on the repurposing process in line with…

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LPG price increased by Rs20

The price of LPG has increased by Rs 20 per kg by the Marketing companies on Tuesday without the Oil and Gas Regulatory Authority (OGRA) notification. The LPG prices were augmented by Rs 20 per kg, Rs 908 per domestic cylinder, and Rs 236 per commercial cylinder. However, One kilogram of LPG will now cost Rs195. The LPG cylinder used for household purposes will be accessible for Rs2, 300 after an upsurge of Rs236 while the commercial cylinder will be sold at Rs8, 853 after a ramble of Rs908. In…

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Coal miner killed in Harnai mine collapse

A coal miner was killed after being buried alive when a portion of a coal mine collapsed in the Harnai district of Balochistan, local Levies officials confirmed on Tuesday.https://imasdk.googleapis.com/js/core/bridge3.482.0_en.html#goog_13302168450 seconds of 10 secondsVolume 0%  Levies said that the incident occurred in a coal mine in the Shahrig area near Harnai. The body of the deceased, identified as Gul son of Abdullah, was later recovered from under the debris and shifted to the rural health centre in Shahrig. Gul was a migrant worker from Afghanistan. There are as many as 3,000…

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