Year: 2021

Oil prices jump as major US fuel pipeline restarts

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Oil prices rose on Friday, reversing some of the previous day’s sharp losses as stock markets strengthened and the US dollar slipped, though gains were capped by the coronavirus situation in major oil consumer India. Colonial Pipeline said late on Thursday it had restarted its entire pipeline system and had begun deliveries in all its markets. The line is the major conduit from Gulf refineries to the US East Coast. “Oil is rallying because supply is moving again, whether it is through the pipeline or the Mississippi river,” said Phil…

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Govt, KE moving towards new PPA

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The Federal Government and Karachi Electric (KE) are said to have been inching towards a long-waited settlement on new Power Purchase Agreement (PPA) and Arbitration Agreement, after a long deliberation, well informed sources told Business Recorder. This progress was witnessed at a meeting at Governor House in Karachi just a week after Prime Minister Imran Khan’s very important visit to Saudi Arabia, wherein he was also accompanied by Governor Sindh Imran Ismail. On April 5, 2021, Managing Director, Investments of Saudi Arabia’s Aljomaih Holdings Co, Abdulaziz Hamad Aljomaih, in a…

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Pak economy holds potential for faster growth despite challenges: Experts

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Pakistan economy is on solid growth path and has potential to grow at much higher rate in next five years despite a challenging environment across the globe, Khaleej Times reported while quoting experts. Top government officials, analysts and corporate leaders repose trust in growing economy and said higher GDP growth in 5-6 per cent per annum was going to be a ‘new normal’ in next five years amid considering strong economic indicators of the country, it said. “Yes, we have a potential to grow at much higher rate in coming…

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Chinese set to integrate Sino-Pak overall coop

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Chinese have taken another step forward towards extending more cooperation towards Pakistan’s economic and social development as China Gezhouba Group Company (CGGC) will integrate into overall progress of both the countries. “A number of key projects invested and constructed by CGGC have played an important role in boosting Pakistan’s economic growth and creating jobs. They will continue engaging in the construction of CPEC and write a new chapter for Pak-China friendship,” Chen Xiaohua, President of CGGC, told CEN yesterday. CGGC first entered Pakistan in 2003 and started Neelum Jhelum Hydropower…

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Pakistan: Role Of Nuclear Power In Economic And Sustainable Development – OpEd

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Pakistan’s Atomic Energy Commission’ (PAEC) announced that the 1,100 MW reactor of (KANUPP-2), the second unit of the ‘Karachi Nuclear Power Plant’ was connected to the national grid. This reactor is ACP-1000 or Hualong One and was supplied on a turnkey basis by ‘CNNC’ (China National Nuclear Corporation). KANUPP-2 would provide Pakistan with a more reliable and cost-effective source of electricity. This in turn would prove to be beneficial for the economic growth of the country. In order to meet its ever-increasing energy requirements, Pakistan has been significantly increasing the…

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