Day: April 11, 2022

Lessons From Colombo

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Pakistan is not the only country in the region going through political turmoil. Sri Lanka, too, is facing a political impasse. Last week, all 26 members of the Sri Lankan cabinet (including the brother and nephew of President Gotabaya Rajapaksa) resigned en-masse amidst widespread protests in the country over the state of the economy. Mr Rajapaksa’s government no longer enjoys a simple majority of 113, as over 40 members of parliament from his party and its coalition partners have distanced themselves from him. The economic crisis has become so grave…

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Petroleum Woes Ahead

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Be it the retail fuels or the fuel for power generation; the petroleum crisis has been brewing. The populist moves are always at the core of such problems. One of them is the subsidy provided on petroleum prices by the (previous) government that had frozen petroleum prices. It happened when international crude oil prices went through the roof amid the Russia and Ukraine war. At the same time, recent figures for petroleum product sales by the oil marketing companies – released by the OCAC – show that demand for petroleum…

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Rising Petrol Prices Fuel Uncertainty at Oil Giant Petrobras

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razil’s state-run oil company Petrobras is once again in crisis: caught in a political tug of war over rising fuel costs. Far-right President Jair Bolsonaro, seeking re-election in October, is widely blamed by voters for double-digit inflation, polls show, on the back of skyrocketing fuel prices. Feeling the heat, Bolsonaro last week fired Petrobras CEO Joaquim Silva e Luna, saying the petrol price was “unaffordable” and amounted to a “crime” against Brazilians. Tied to international market movement, fuel prices in Brazil rose 33 percent in the past year even as…

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China helps supply PV module to Pakistan

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Recently, C&D Clean Energy has announced a partnership with Integra Solar for panel supply chain services. According to a signed memorandum of understanding, C&D Clean Energy will provide Integra Pakistan with integrated supply chain services of 100MW solar modules in 2022. “Integra’s value concept is to write the earth’s green future by choosing high-quality products, and we are in line with C&D Clean Energy on this point,” commented Integra Solar Pakistan CEO Mahmood Tahir. “We are honoured to find a global supply chain partner like C&D Clean Energy, a Fortune…

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Construction sector likely to grow 92 percent in seven years

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Construction sector is estimated to expand by a staggering 92 percent in seven years from Rs1,409 billion in FY2021 to Rs2,706 billion by FY2029, at an annual rate of 11.8 percent, mainly on the strength of infrastructure and housing projects, a report said on Saturday. According to a study released by Pakistan Credit Rating Agency (PACRA), the sector’s contribution to the Gross Domestic Product (GDP) of Pakistan in FY2021 stood at Rs1,409 billion, compared to Rs1,231 billion in FY2020. In FY2021, it registered a growth of 14.4 percent year-on-year, while…

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