Year: 2021

Analysing Another Trade Deficit Crisis

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When the first wave of the pandemic hit Pakistan, the economic policymakers were worried about the contraction in economic activities and uncertainties accompanying the closures and lockdowns announced by the government. Various incentives were provided to different sectors in order to ensure that the impact of the Covid-19 shock was minimised. Economic indicators turned favourable after the initial shock. The economic growth recovered to levels above those reported before the pandemic and industrial as well as business activities were at the highest levels in recent years. The large-scale manufacturing (LSM)…

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Heating Price Disparities

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As winters go deep, the all-so-familiar natural gas crisis goes deeper. People are struggling to meet the heating requirements across the country. The national pipeline network serves no less than 12 million households. Save for two to three months of trouble, where some may have to rush for alternate arrangements to piped gas – natural gas to these 12 million households is largely a smooth affair. And more importantly, a very cheap one. The other two-third of the households in Pakistan do not have the luxury to piped gas. While…

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Renewable Energy

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The recently announced World Economic Forum’s Energy Transition Index 2021 has ranked Denmark, Finland and the United Kingdom among the top 10 countries that are well on their way to transition from fossil-based energy mix of oil, natural gas and coal to renewable energy sources like wind, biogas, biomass, solar and renewable battery technology. The 50 top-ranking nations in this category are mostly European countries. In the process many of these nations have already reached the mark to provide their consumers a reliable, environment-friendly and cost-effective source of energy while…

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EU to Provide 250m Euros for Elean Energy Initiative: PM’s aide

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Special Assistant to the Prime Minister on Climate Change Malik Amin Aslam said the European Union (EU) had agreed to provide 250 million euros to Pakistan for assisting its clean energy transition and nature-based ecosystem solution project. Speaking at the inaugural ceremony of a solar-based water filtration plant and later addressing a public meeting in Manoonnagar area of Hassanabdal, Mr Aslam said Pakistan would get global funding in lieu of billions of trees planted across the country through the World Bank assisted Green Bond. He said the billion tree tsunami…

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Pakistan–Russia Gas Stream: Opportunities and Risks of New Flagship Energy Project

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Russia’s Yekaterinburg hosted the 7th meeting of the Russian-Pakistani Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation on November 24–26, 2021. Chaired by Omar Ayub Khan, Pakistan’s Minister for Economic Affairs, and Nikolai Shulginov, Russia’s Minister of Energy, the meeting was attended by around 70 policy makers, heads of key industrial companies and businessmen from both sides, marking a significant change in the bilateral relations between Moscow and Islamabad. Three pillars of bilateral relations Among the most important questions raised by the Commission were collaboration in trade, investment and the…

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