Day: September 3, 2021

The China-Pakistan Economic Corridor (CPEC), a flagship project of the China-proposed Belt and Road Initiative (BRI), is one of the most important projects for the economic revival of Pakistan, said Khalid Mansoor, special assistant to the Pakistani Prime Minister on CPEC affairs. “CPEC’s phase two will be developing an industrial hub in the country, providing many opportunities for local and foreign investors,” Mansoor told Chinese media here on Wednesday. Underlining the importance of CPEC to uplifting the agriculture sector of his country, Mansoor said that Pakistan is an agricultural country…

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Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over the ever-increasing and unsustainable losses to CNG stations in Sindh due to government policies, RLNG-linked CNG pricing regime, gas load shedding, and favouritism in supplying indigenous gas. FPCCI President Mian Nasser Hyatt Maggo, while addressing media on Thursday expressed serious concerns when CNG associations’ leadership informed him that 70 to 80 favourite CNG stations of the authorities were still getting indigenous gas at Rs1,350/MMBTU, while the rest had to pay Rs2,040/MMBTU excluding tax. They called the practice…

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BEIJING (AFP) – US climate envoy John Kerry is in Beijing this week to urge the world’s biggest polluter to reduce its reliance on coal. But China is building more coal-fired power plants than the rest of the world combined, a plan that is threatening to derail its decarbonisation plans and global efforts to tackle climate change.Here are five reasons why Beijing is struggling to kick its coal habit. Nearly 60 per cent of China’s energy-hungry economy is fuelled by coal.Despite pledges to peak coal consumption before 2030, China brought…

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DAYS AFTER THE Taliban takeover of Afghanistan, the World Bank and the International Monetary Fund halted the flow of hundreds of million dollars into the country. The central bank had around $9 billion in reserves. But, most of it was held in the US and was frozen. In short, the Taliban was left without capital to run the country. But, not many know that the country has mineral deposits worth $1 trillion or more, including rare earth minerals. It supposedly has the world’s largest reserves of lithium. However, the Taliban…

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Four fifths of the Gulf of Mexico’s oil and gas production remains offline due to Hurricane Ida, one of the biggest storms to hit the US in the past 150 years. Almost 1.5 million barrels per day of oil and 1.9 billion cubic feet per day of natural gas output was shut in as of Wednesday,the US Bureau of Safety & Environmental Enforcement said. That represents 17 percent of total oil production in the US, and 5 percent of the natural gas output, while about 45 percent of the US’s…

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