Day: September 21, 2021

With some subdued downward risks, Fitch Solutions on Monday forecast Pakistan’s economic growth at 4.2 per cent — against the government’s target of 4.8pc — in the current fiscal year (FY22) owing to supportive monetary and fiscal conditions and improving vaccination rates. The report by Fitch Solutions — which offers financial information services — noted that net exports would contribute negatively to headline growth as imports would outpace export growth. “Improving vaccination rates will buoy private consumption growth while supportive monetary and fiscal conditions will serve as tailwinds for gross…

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Pakistan LNG Limited (PLL) has allowed the private sector to import LNG for the month of November 2021 by using its underutilised capacity amid the forecast that the LNG rates in the international open market for the said month will stand at $27.75 per mmbtu. The private sector companies term the move of the PLL tricky, arguing when the LNG rates in the month of November will be on trajectory to highest-ever prices, the state-owned company has offered the private sector to import LNG. They said that JKM (Japan Korea…

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India aims to develop 450 GW of renewable energy by 2030. In reaching the target, India and Denmark now launch a joint Centre of Excellence for Offshore Wind and Renewable Energy. In the coming decades, India is expected to become one of the largest markets for renewable energy. The country has an ambitious target of reaching 450 GW in 2030 why a solid renewable energy mix will be needed. To ramp up the efforts, the Indian Ministry of New and Renewable Energy and the Danish Ministry of Climate, Energy and…

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The National Assembly Standing Committee on Power has directed the Ministry of Energy (Power) to negotiate power tariff concessions with the independent power producers (IPPs), as the Ministry has admitted that the power companies intentionally delayed the electricity billing during the Eid-ul-Adha and Moharram holidays, causing overbilling to electricity consumers of all distribution companies across the country. The whole world knows that IPPs have cheated a lot,” said the Chairman Committee Chaudhry Salik Hussain during the panel meeting held on Monday. The meeting, held with Chaudhry Salik Hussain in the…

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Blinken, as usual defended the Biden administration’s handling of Afghanistan before the Senate Foreign Relations Committee. Most of the Republican and Democrat lawmakers blamed the chaos and worse law and order situation following the US withdrawal from Afghanistan last month on President Biden. While both Republicans and Democrats also targeted Pakistan for its assumed support to the Taliban during the war, Senator Chris Van Hollen nearly tore into much of the testimony that Blinken gave, including his negative focus on Pakistan. The Maryland Senator asked Blinken whether it was not…

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