Year: 2021

Keeping in view the threats of climate change, Pakistani entrepreneurs are taking initiatives to reduce the impact of changing weather patterns on the country. Two businessmen have come up with the idea of weather data analytics and forecasts with the help of artificial intelligence and computer algorithms to increase the accuracy of predictions to 95%. Warning of a 2.5-degree-Celsius rise in temperature over the next two decades, the Asian Development Bank (ADB) and the World Bank have estimated that climate change is costing Pakistan up to $3.8 billion per year.…

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Share prices of the independent power producers (IPPs) soared on Tuesday after the government approved the disbursement of Rs135 billion as part of the tariff renegotiation process aimed at reducing the circular debt. The approval for the final tranche of payments consisting of 60 per cent of the total outstanding dues follows the disbursement of the first instalment amounting to Rs90bn to the same 20 IPPs back in May. This will take the total payments under the Feb 28 tariff renegotiation agreement to Rs225bn. The disbursements are in the form of cash…

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The price of compressed natural gas (CNG) has further gone up by Rs6.89 per litre in Punjab and Rs10.30 per kg in other provinces following an increase in sales tax by the Federal Board of Revenue (FBR), stakeholders said on Tuesday. In the first week of October, CNG price in Sindh was raised by Rs15 per kg, followed by an increase of Rs8 per litre in Punjab. “The new price of CNG in Karachi has swelled up to Rs200 per kg,” All Pakistan CNG Association (APCNGA) Coordinator for Sindh Zone…

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The receivables of the Pakistan State Oil (PSO) have gone up to a whooping figure of Rs 398 billion the highest ever in the entity’s history with a major chunk of Rs 192.539 billion from the power sector However, the Sui Northern owes Rs 161.025 billion to the PSO in the head of RLNG and the PIA is required to pay Rs 21.979 billion for using jet fuel. The non-recovery of Rs 398 billion receivables has triggered the rise in the cash flow situation, resulting in financial miseries for the…

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