Shippers of containerized goods were caught off guard this year. Never before had container spot rates risen so far, so fast. But shippers of liquid and dry bulk commodities know such cost swings all too well. When bulk commodity transport demand exceeds supply, shipping spot rates can keep rising until cargo shippers’ profit margins are erased. The spectacular rise and…
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The conditional restoration will be done on best-efforts basis from December 29, 2021 on the conditions that industry would have to submit affidavit for not initiating litigation. Moreover, conducting energy audit through third-party arrangement by June next year has been made mandatory for captive power producers. Otherwise, gas will be disconnected permanently. An industry representative also confirmed deal done with…
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National Refinery Limited (NRL), reeling from months of lackluster fuel oil demand and an abundance of inventory, has temporarily shut down its operations, The News learnt on Monday. Furnace oil stocks have been piling up at refineries, with the situation getting further aggravated due to lack of buying from independent power producers (IPP). This has led to the temporary shutdown…
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After a month-long impasse, the government on Monday conditionally agreed to provide 50 per cent gas supply to textile manufacturers for co-generation on a best effort basis provided they surrender in writing their stay orders and get their energy audits conducted. Energy Minister Hammad Azhar told Dawn that a government team and a delegation of All Pakistan Textile Mills Association…
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A new wave of propaganda is going on against CPEC and Chinese investment in Pakistan. The campaign has got impetus after Pakistan’s refusal to become a part of any bloc at the international level. The actors of campaign are criticizing not only the CPEC investment but also the brotherly relationship between Pakistan and China. They are openly asking Pakistan to…
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According to the 2017 census, the poverty rate in southern Balochistan is 46%, the highest in the country – the lowest rate being 16.3% recorded in Punjab. Ironically, Balochistan is also the province richest in terms of natural resources. The official website of the Balochistan government says the province “possesses a great unexplored potential of metallic and non-metallic minerals” including…
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International Packaging Films Limited (IPAK), a packaging firm known for producing high-quality packaging films, has taken sustainability to a new level by incorporating a specialised combo heat recovery system at their power plants in a bid to cut down on carbon emissions. According to company, having become a major player in the packaging industry in a short amount of time…
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The year 2021 was a year of misery and disappointment for the people of Pakistan, and would haunt them for years with little hope that the year 2022 would be any better. The excellent handling of Covid-19 by the present regime was nullified by its subsequent loss of writ. There was an increase in economic activities, but that was accompanied…
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Amidst gas crises, citizens have been forced to look for alternative heat sources like LPG cylinders and burning coal, wood or biofuel. Resultantly, the price for these alternative options has also gone up by 20 to 30 per cent, backed by increased demand from domestic as well as commercial sectors. Ayesha Khatun, a working-class woman who is a resident of…
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As great as Iran’s oil reserves are, its gas reserves are even greater, with official estimated proven natural gas reserves of 33.78 trillion cubic metres (Tcm), second only to Russia, 17 percent of the world’s total and more than one-third of OPEC’s. If the new-found reserves in the Chalous field were added – as exclusively revealed by OilPrice.com – then…
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