While expressing concern over the rising oil prices, Economic Coordination Committee (ECC) of the Cabinet has held that capping of fuel price would generate additional burden on the exchequer, especially in the current international scenario and oil market volatility. The ECC, headed by Finance Minister Shaukat Tarin shared their concern during the ECC meeting held on March 7, 2022 when…
Read More
While some care has been taken to phase in the UK ban on Russian oil, the UK and US cannot cut out the world’s third largest oil producer without tangible consequences. Some of this is already factored in to the global price for crude oil and record pump petrol and particularly diesel prices. The price of an average tank in…
Read More
President Joe Biden has imposed an immediate ban on Russian oil and other energy imports in retaliation for Russia’s invasion of Ukraine, while the United Kingdom said it would phase out imports by the end of 2022. The latest sanctions are likely to push up oil prices — resulting in even higher prices at the pump. Russia is the world’s…
Read More
Sui Southern Gas Company Limited (SSGCL) has not yet issued requisite No Objection Certificate (NOC) to Pakistan Steel Mills Corporation (PSMC), which is necessary to move forward on privatisation process, despite strong recommendations by Finance Minister Shaukat Tarin, well informed sources told Business Recorder. On February 16, 2022, Finance Minister, while presiding over a meeting on pending issues had snubbed Managing…
Read More
To initiate a public policy debate on multimodal logistics and freight services focusing their pivotal role in national trade growth, President of Pakistan H. E. Dr. Arif Alvi will be inaugurating Pakistan’s first-ever multimodal logistics conference “Trade Growth of Pakistan through Multimodal Logistics” here at Serena Hotel tomorrow. One-day conference will be featuring interactive sessions and insightful debates on a…
Read More
An International Atomic Energy Agency (IAEA) mission said that new and updated nuclear safety regulations in Pakistan have significantly updated and strengthened nuclear and radiation safety in the country. The team also noted a few areas where challenges remain, including for Pakistan to continue to focus on decommissioning, spent fuel management and radioactive waste disposal. At the request of the…
Read More
Global energy-related carbon dioxide emissions rose by six percent in 2021 to a record 36.3 billion tonnes, their highest ever level, the International Energy Agency said Tuesday. “The increase in global CO2 emissions of over 2 billion tonnes was the largest in history in absolute terms, more than offsetting the previous year’s pandemic-induced decline,” it said. It pointed to the…
Read More
A leading state-owned Chinese firm has expressed concern over delay in payment and asked the Ministry of Energy (power division) to release Rs12.35 billion as Transmission Service Payment (TSP) related to 660kV Matiari-Lahore High Voltage Direct Current (HVDC) Transmission Line for September 2021 to February 2022. The China Electric Power Equipment and Technology Co Ltd (CET) / State Grid Corporation…
Read More
Pakistan has successfully connected its second 1,100 megawatt (MW) nuclear power plant unit to the national power grid which will provide clean and affordable electricity to millions. Pakistan Atomic Energy Commission (PAEC) confirmed that it connected the K-3 unit of the Karachi nuclear power plant (KANUPP) to the national grid. “The plant has been connected to the grid on a…
Read More
