Month: February 2022

Big brands call for global pact to cut plastic production

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International brands including Coca Cola and PepsiCo called on Monday for a global pact to combat plastic pollution that includes cuts in plastic production, a key growth area for the oil industry. World officials will meet at a United Nations Environment Assembly conference (UNEA 5.2) later this year to start negotiations on a treaty to tackle a plastic waste crisis that is choking landfills, despoiling oceans and killing wildlife. It remains unclear whether any deal will focus on waste management and recycling or take tougher steps such as curbing new…

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Karachi industries awaiting energy relief package

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Despite the fact that the Economic Coordination Committee (ECC) has approved an extension in the incremental consumption package for the steel industry six months ago, Karachi industries are still waiting for an official notification. Businessmen of the city have regretted paying an extra bill owing to the delay in implementation of the decision. “Operating an industry is extremely difficult as we have to struggle hard to get our legitimate right,” remarked Pakistan Association of Large Steel Producers (PALSP) Secretary General Syed Wajid Bukhari in a statement on Wednesday. According to…

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NUST Becomes First Pakistani University With Air Quality Monitoring Station

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It has completed the sophisticated project in collaboration with the local and the US Embassy-assisted initiatives, APP reported, and added that “The NUST through its indigenous and US Embassy assisted initiatives, managed to develop a locally made conventional air quality measuring gadget in collaboration with local technicians/engineers”. The Head of Department, Institute of Environmental Sciences and Engineering (IESE), Dr. Muhammad Fahim Khokhar told APP that the project was completed recently after being launched in 2012, and is the result of a decade of untiring efforts. “The effort had started from…

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Circular debt rises to Rs2.476tr by Dec 2021

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The scourge of circular debt of cash bleeding power sector has gone up by Rs1,328 billion in the last 40-month rule of PTI government, climbing up to Rs2,476 billion till December 2021.https://0200f1fc14232232425dd4f5771e468d.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html “The Circular Debt (CD) stood at Rs1,148 billion when the PTI government had assumed reins of power in August 2018. It has now gone up to Rs2,476 billion, indicating that it increased by Rs1,328 billion in the last 40 months period,” official estimates presented before the government on Thursday revealed. It clearly demonstrates that the PTI government failed…

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Chinese coal prices fall on state planner’s cooling measures

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China’s thermal coal futures fell as much as 7.5% on Thursday after the state planner warned companies against inflating coal prices and reiterated it would ensure enough supply to stabilise markets. The most-active thermal coal futures on the Zhengzhou Commodity Exchange were down 3.5% at 836.2 yuan a tonne by 0330 GMT, after falling as much as 7.5% at one point. But the contract is still up 24% this year, still less than half the life-time high touched during the power crunch in October last year. The most-traded coking coal…

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