Month: April 2022

Firms will go bust’: Germany prepares for a future without Russian gas

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There are doomsday visions of supply chains – already under pressure due to the pandemic – collapsing altogether, businesses forced into bankruptcy, mass unemployment. Jörg Hoffmann, the head of IG Metall, a union that represents 1.2 million workers in the chemical, metal processing and food production, has warned of “a recession deeper than any of the recessions we have known until now.” BASF, the chemical giant, and one of Germany’s biggest single purchasers and consumers of energy, said the effect of its production downturn would soon be felt. “We would…

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MoF not ready to release funds: Ministry unable to pay off over Rs50bn PPOD liabilities

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The Ministry of Communication is reportedly in a very awkward position with respect to the payment of over Rs50 billion liabilities of various companies, collected by Pakistan Post Office Department (PPOD) as the Finance Ministry is not ready to release the amount, well-informed sources told Business Recorder. Recently, the Power Division wrote a letter to the secretary Ministry of Communication, highlighting important issue being faced by the power Distribution Companies (Discos) viz non-provision of funds collected by the GPOs on behalf of the Discos. According to the Secretary Communication, Zafar…

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Electricity loadshedding, gas shortage during Ramazan perturb public

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The fasting’ residents of Rawalpindi city are facing severe weather without electricity. The heat-stricken residents are not only facing unscheduled loadshedding but also braved water crisis as well making their ‘fast’ very difficult on Saturday. On the other hand, gas crisis is continuously worsening in all areas, particularly during sehri and iftari. Fasting families are facing difficulties in buying sehri and iftari from hotels at skyrocketing prices. The residents of all areas in the city and cantonment board are facing one-hour loadshedding after every one hour for two days. The…

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SSGC clarification on low gas pressure during Ramazan

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Sui Southern Gas Company (SSGC) has said that some of its esteemed customers have complained of receiving low gas pressure in the holy month of Ramazan especially during pre Sehri and Iftaar hours. It is important to mention that customers who are generally located at the tail end of Company’s distribution lines are facing low pressure issues due to sudden and manifold increase in gas usage for cooking purposes in millions of homes and commercial outlet at similar timing, said a press release issued by SSGC here on Saturday. Moreover…

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Gas shortage making Karachiites suffer during Ramazan

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According to the Sui Southern Gas Company (SSGC), the shortage of gas is due to a sudden increase in its use for cooking purposes in millions of homes and commercial places across the city at the time of Sehri and Iftar. The worst hit areas are Gulshan-e-Iqbal, Gulistan-e-Jauhar, Defense Housing Authority (DHA), PECHS, Sindhi Muslim Cooperative Housing Society, Nazimabad, North Nazimabad, North Karachi, Surjani Town, Lyari, Shah Faisal Town, Koragi and the adjoining areas. A resident of DHA Phase VI, Zainab Shabbir, shared how they had been facing a gas…

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