Day: November 18, 2021

The Punjab Energy Department, in collaboration with the Punjab Board of Investment and Trade on Wednesday hosted a seminar on the energy potential of Punjab at the Pakistan Pavilion at Dubai Expo 2020. The seminar was attended by the Punjab Minister of Energy, UAE Minister of Energy, His Excellency Saud Ballawy, the managing director of the Punjab Power Development Board, and the CEOs of the Punjab Power Development Company Ltd, the Quaid-e-Azam Solar Park, and the Punjab Energy Efficiency Conservation Agency. According to the press statement the seminar presented a…

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Foreign direct investment (FDI) fell by 12 per cent in the first four months (July to October) of the current fiscal year, according to data issued by the State Bank on Wednesday. In real terms, FDI inflows stood at $662 million during the four-month period compared to $750.6m a year ago. In October, the inflows plunged by 24pc to $223m from $293m in the same month a year ago. The country has been unable to attract significant FDI inflows for more than five years now. A drop in FDI would…

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An important meeting with the Asian Development Bank (ADB) officials was held in the Federal Board of Revenue (FBR) HQ to review the progress made on “FBR Reform Engagement with ADB” and the issues and challenges being confronted for effective implementation. The FBR team was led by Chairman Dr Muhammad Ashfaq Ahmed and ADB team was headed by John Hurley, United States’ Alternate Executive Director who was accompanied by Country Director Yong Ye, Principal Energy Specialist Asad Aleem, Executive Director Noor Ahmed, Senior Project Officer Financial Sector Sana Masood, Senior…

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Liquefied natural gas (LNG) prices face a quick return to recent record highs as cold weather approaches the Northern Hemisphere and surging power demand and depleted gas storage heightens the global energy crunch, particularly in Europe. This year’s power price shock has seen several domestic energy suppliers go out of business, while heavy industry curtailed output in energy-intensive sectors. Consumers are paying significantly more for home heating, adding to wider inflationary pressures, with no let-up in sight for countries dependent on LNG imports such as Spain. LNG prices lurched from…

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The 5th Joint Technical Committee Meeting of the Pak Stream Gas Pipeline Project was held in Islamabad from 16th-18th November, 2021. The respective delegations held extensive consultations over the course of these discussions. The parties have expressed satisfaction over ironing out major outstanding issues in the Share Holders Agreement. The talks were held in an amicable environment that was characterised by mutual agreement, consensus and unanimity of views that has led to achieving stellar progress and very encouraging forward movement on the Share Holders Agreement.Both parties have also discussed broad…

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