Day: November 17, 2021

John Hurley, USA’s Alternative Executive Director to the Asian Development Bank (ADB) has reassured that the bank’s support to Pakistan’s reform agendas would speed up as soon as the ongoing International Monetary Fund (IMF) Review was completed. Hurley, who is on his first official visit to Pakistan, was welcomed by Federal Minister for Economic Affairs Omar Ayub Khan on Tuesday. The minister expressed his gratitude to the ADB management for efficiently processing and successfully procuring Covid-19 vaccines to support the government’s national vaccination drive. Highlighting the financial and budgetary importance…

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The recently approved “Phase-III Thar Coal Mine Expansion Project” may face challenges in attracting investment due to unresolved issues of the sponsors of ongoing CPEC Phase-1 projects. Till the resolution of outstanding issues, the government will find it difficult to create forward linkages for the use of coal beyond power sector, sources said. It may be noted that in October, the Sindh government had approved the expansion plan for annual extraction of 12.2 million tons of coal. The project, envisioned to be completed by mid-2023, will reduce the cost of…

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A USA-based technology company and a Pakistani industrial group have entered into a formal partnership to start for the first-time manufacturing of supercapacitor energy storage systems in Pakistan to promote usage of renewable electricity. A ceremony was held here at a hotel for the signing of a joint venture (JV) agreement between Ghani Global Holdings Limited (GGL) and Kilowatt Labs Inc USA to build Pakistan’s first facility to locally produce supercapacitor battery storage products. The manufacturing facility will be built at Allama Iqbal Industrial City in Faisalabad. Speaking on the…

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Pakistan Petroleum Limited (PPL) received Corporate Philanthropy Award by Pakistan Centre for Philanthropy (PCP) for being the largest corporate giver in terms of volume of donations during 2019-20, a statement said on Tuesday. PCP adjudged the winner based on their research-based annual philanthropy survey, awarding PPL during a Corporate Philanthropy Awards event organized by PCP in Islamabad. The event was attended by many business leaders, development professionals, and media. Advisor to the Prime Minister on Finance and Revenue Shaukat Tarin presented the award to chief community development officer of PPL…

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Engro Polymer & Chemicals (EPCL) has become the first affiliate member from Pakistan to join the World Economic Forum’s (WEF) Global Plastic Action Partnership (GPAP), as part of its sustainability efforts to promote circular economy and contribute to achieving zero plastics waste, it said on Tuesday. By leveraging the GPAP platform, EPCL will be able to forge national and international partnerships, learn from global best practices and lead circular plastics initiatives to help overcome the plastic pollution challenge in Pakistan,” the company said in a statement. In May 2021, EPCL…

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