Year: 2021

KARACHI: Pakistan Stock Exchange Friday witnessed a bullish trend on the back of healthy buying by local and foreign investors. BRIndex100 gained 33.87 points or 0.71 percent to close at 4,829.46 points. BRIndex100 hit intraday high of 4,861.67 and intraday low of 4,795.37 points. Volumes stood at 658.594 million shares. BRIndex30 inched up by 97.97 points or 0.41 percent to close at 24,170.94 points with a turnover of 516.638 million shares. The KSE-100 Index increased by 309.80 points or 0.68 percent to close at 45,654.34 points. Trading activity also improved…

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All provinces except Punjab are self-sufficient in terms of gas production with Sindh producing the greatest quantity of natural gas, the Oil and Gas Regulatory Authority (Ogra) officials told the Senate Functional Committee on Problems of Less Developed Areas on Friday. According to Ogra, Punjab, the most populous province, produces 92 million cubic feet (MMCF) of gas but it consumes 950 MMCF. Khyber Pakhtunkhwa produces 366 MMCF while it consumes 317 MMCF. Sindh produces 2,225 MMCF and consumes 1,562 MMCF while Balochistan produces 651 MMCF against its consumption of 405…

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ISLAMABAD: Amid the stalemate with 47 IPPs over the newly worked-out payment mechanism and resolution of disputed issue of excessive profits of Rs53 billion, the wind IPPs have communicated to the government in plain words that they will not sign MoUs unless and until curtailment of power evacuation from them is ensured. Some 47 IPPs signed the MOUs on August 13, 2020 paving way to signing the amended power purchase agreements, in six months ending in February 12, 2021. Once the amended PPAs are signed, the government will mop up…

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In the face of growing gas shortages in Pakistan, the Ministry of Energy is taking multiple measures to mitigate the situation. One such innovative step is to induct local gas into the system from stranded oil and gas fields via a virtual pipeline mechanism. Virtual pipelines are specialized modules that can carry natural gas in compressed form safely, securely, and in an economically viable manner across distances. This method can also drastically help solve one of the major environmental problems faced in the Oil and Gas world, which is methane…

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According to a recent report by the International Monetary Fund (IMF), Pakistan ranks third in the world among countries facing acute water shortage. Reports by the United Nations Development Programme (UNDP) and the Pakistan Council of Research in Water Resources (PCRWR) also warn the authorities that the South Asian country will reach absolute water scarcity by 2025. “No person in Pakistan, whether from the north with its more than 5,000 glaciers, or from the south with its ‘hyper deserts,’ will be immune to this [scarcity],” said Neil Buhne, UN humanitarian coordinator…

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