Saudi state energy giant Aramco booked a net profit of $30.4 billion for the third quarter of the year, up by 158 percent from the third quarter of 2020 on substantially higher crude oil prices. The world’s biggest crude oil company also said it had generated 131 percent higher free cash flow during the reporting period, at $28.7 billion. Cash flow from operating activities reached $36.3 billion. The company’s chief executive, Amin Nasser, attributed the strong quarterly result to the rebound in economic activity globally, which caused a surge in…
Read MoreDay: November 1, 2021
More Disturbing Inflation Data
Inflation continues to bedevil the Pakistani residents three years into the tenure of the Khan administration in spite of repeated public acknowledgements by the Prime Minister and his cabinet members that inflation is a source of concern. In spite of best efforts by the government, reflected by the country’s Prime Minister reportedly raising the issue at every meeting, the inflation genie remains outside the bottle wreaking havoc amongst the lower to middle income earners. The inflation genie was let loose in 2019 subsequent to the staff-level agreement reached between the…
Read MorePakistan to present diverse agenda around climate change at COP-26: Dr Abid Suleri
Islamabad (30 October 2021): Pakistan is all set to have a diverse representation at 26th Conference of the Parties (COP-26) to the United Nations Framework Convention Climate Change (UNFCCC). The international conference is going to have an extraordinary representation of civil society, parliamentarians, think tanks and private sector from across the globe. The key negotiations at the COP-26 would open up with debate on developing countries plight of bearing the brunt of environmental degradation caused by the developed countries. Dr Abid Qaiyum Suleri, Executive Director Sustainable Development Policy Institute (SDPI),…
Read MorePower Generation Capacity Increases By 9.3%; Reliance On Imported Fuel Being Decreased
The country’s power generation capacity witnessed a 9.3 percent increase during the last fiscal year due to prudent policies introduced by the government for gradually switching over to alternative and renewable energy resources. “During the current fiscal year, the government has set a target to get additional 15.2 per cent growth, focusing on alternative and renewable resources,” according to an official report available with APP. Energy mix for power generation would need to gradually move towards domestic coal, renewable and hydro-power resources, as the least cost and sustainable option, the…
Read MoreGas Compressors Making Law Abiding Consumer’s Lives Miserable
A large number of consumers in Rawalpindi city have installed gas compressors, depriving many fellow citizens from the commodity supply even in routine hours. Some domestic as well as commercial consumers have reportedly installed illegal gas compressors which hedge on gas pressure like water motors � used in summer to enhance water pressure. The price of compressors in the market ranges from Rs 2,000 to Rs 4,000 and openly available in markets. The people urged the concerned authorities to check illegal sale of compressors. Acute shortage of gas has made…
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