Year: 2021

The Auditor General of Pakistan (AGP) is said to have raised serious objections over what it said that no clause regarding international sanctions on Iran was incorporated in the Gas Sale Purchase Agreement (GSPA) under Iran-Pakistan Gas Pipeline Project (IPGP), which resulted in a risk of penalty at $3 million per day from January 2015 onwards. This has been revealed in the performance audit report on the accounts of Inter State Gas Systems Limited (ISGSL) for the financial years 2015-20. The audit report pointed out that the ISGSL and the…

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On the one hand, he said UN Secretary General António Guterres issued a red alert on the Inter-governmental Panel on Climate Change’s report indicating a sharp rise in temperature in next ten years, while on the other, PM Imran Khan was personally leading tree plantation drive in the country to help control soaring temperatures. Farrukh said the prime minister inaugurated the world’s biggest Miyawaki urban forest at Lahore the other day, while Mangroves drive in Balochistan, Lasbela and drone tree plantation drive at Lal Sohnara were to be launched on…

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The Sindh Cabinet on the request of Karachi Water and Sewerage Board has approved a levy of Re1 per litre on bottled water and beverage companies in line with the government of Punjab. The impact of this levy could not be known immediately as some big market players approached by Dawn showed their ignorance about the Sindh Cabinet decision. However, the prices of various brands of mineral water available in 1.5-litre to six-litre have been increased in the last two to three weeks. The six-litre bottle of branded companies now costs Rs160…

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The state-owned Pakistan LNG Ltd (PLL) and private power utility K-Electric on Tuesday signed a formal agreement under which the former would supply 150 million cubic feet per day of regasified liquefied natural gas (RLNG) to the KE’s upcoming 900-megawatt power plant at Bin Qasim. The gas supply agreement (GSA) was signed by KE Chief Executive Officer Moonis Alvi and PLL Chief Executive Masood Nabi. Energy Minister Hammad Azhar, SAPM on Power and Petroleum Tabish Gauhar and Petroleum Secretary Dr Arshad Mahmood also attended the signing ceremony. The agreement would…

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International coal prices have soared to their highest level since 2008, making further hikes in cement and electricity rates likely in the domestic market. The price of Australian coal, which is used as a benchmark by large coal-burning Asian economies, stood at almost $152 per tonne at the end of last month, up almost 195 per cent from a year ago. “Even though local cement prices have increased Rs60-70 per bag in the last two months, a further price increase cannot be ruled out… However, pressure from the authorities can…

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