Year: 2021

Islamabad’s Air Pollution Reaches Record Highest

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Federal capital’s air pollution reaches record highest, reveals the 24 hours ambient air quality report of Pakistan Environmental Protection Agency (Pak-EPA)’s on Wednesday. According to the report, increased ratio of environmental pollutants causing bad air and degraded atmosphere leading to smog. The National Environmental Quality Standards (NEQS) by EPA set a threshold of 35 microgrammes per cubic meter for particulate matter of 2.5 microns (PM2.5), 120 microgrammes per cubic meter for sulphur dioxide (SO2) and 80 microgrammes per cubic meter to ensure clean ambiance. The report highlighted that the past…

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Circular Debt May Rise Rs 50b

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State-owned companies are paying the price of overcoming the gas crisis in winter season, which adds billions of rupees to the circular debt due to diversion of expensive liquefied natural gas (LNG) to residential consumers without any legal framework. The provision of LNG to the domestic sector is going to hit the public gas utilities hard, as the imported gas supply will add another Rs50 billion to the circular debt, say industry officials. Receivables of Pakistan State Oil (PSO), a state-run oil marketing company which also imports LNG cargoes from…

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All set for inking $1.5bn loan agreements with ADB

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Pakistan and the Asian Development Bank (ADB) will sign six financing loan agreements worth $1.535 billion on Wednesday (today), it is learnt. Official sources revealed to Business Recorder that Minister for Economic Affairs Omar Ayub Khan will witness the loan-signing ceremony. Documents revealed that the Economic Affairs Division (EAD) and the ADB will sign loan agreement worth $600 million for integrated social protection development programme (BISP Ehsaas). Another project worth $300 million would be signed for energy sector reforms and financial sustainability programme (Sub-program 2). The EAD and the ADB…

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SECMC hits 10 million tonnes production milestone

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The record production over the last 2.5 years has resulted in the generation of over 10,000GWhs of electricity, contributing to the national grid. Besides, the company’s record production of coal and generation of electricity using Thar’s local reserves has benefitted the national economy by saving $210 million through import substitution during the same period. SECMC has maintained a stellar safety record; following international and world-class benchmarks, a feat that has earned international acknowledgements from organisations such as British Safety Council. The company has also adopted the United Nation’s Sustainable Development…

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