Month: May 2022

Establishment of solar parks proposed

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There is a need to exploit the renewable energy resources in order to meet the growing needs of the country. In clean energy, solar is one of the most economical, pollution-free and environment-friendly sources of energy that can help mitigate power crisis in Pakistan. These were the remarks made by Pakistan Hi-Tech Hybrid Seed Association Secretary General and United Business Group Chairman Shahzad Ali Malik. He was talking to a delegation of progressive farmers, led by Sabir Hussain. “Pakistan is confronted with a severe energy crisis and load-shedding is badly…

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CNG Made Expensive

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The government has increased gas value of supply to the CNG consumers for the purpose of sales tax in the range of 5pc to 6pc across the country. A sales tax notification SRO587 of 2022 was released on Thursday by amending SRO39 of 2022 to increase the value of supply to the CNG consumers for the purpose of charging sales tax from CNG stations by the gas transmission and distribution companies. For region-I—Khyber Pakhtunkhwa, Balochistan and Potohar Region—Rawalpindi, Islamabad and Gujar Khan, the value of supply of gas was increased…

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More Oil From U.S. Strategic Petroleum Reserve Heads To Europe

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Europe is set to receive more cargoes of U.S. crude from the Strategic Petroleum Reserve (SPR) as the European Union discusses an oil embargo on Russia and looks to reduce reliance on Russian oil, Bloomberg reported on Thursday, citing tanker-tracking data and sources with knowledge of the shipments. In recent weeks, Europe has increased purchases of U.S. crude as it considers the details of a ban on imports of Russian crude and refined products. A week after the European Commission officially proposed a full ban on Russian crude and oil…

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A Ban On Excessive Gasoline Prices Heading To Congress For Vote

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A piece of legislation that would ban excessive gasoline prices is headed for a vote in Congress next week, House Speaker Nancy Pelosi said on Thursday afternoon. The bill, known as the Price Gouging Prevention Act of 2022 and introduced by Democrat senators Tammy Baldwin, Elizabeth Warren, and Democrat Representative Jan Schakowsky, comes in response to what Pelosi calls “a major exploitation” of gasoline consumers. High gasoline prices continue to plague the current administration due to a well-known history of high gasoline prices dogging incumbents in the United States. So…

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Russia Could Cut Gas Supplies To Finland Tomorrow

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Hours after Moscow warned there would be retaliation for Helsinki’s announcement that it is applying for NATO membership, Finnish media reports that the Kremlin threatened to cut the country off from Russian gas by Friday. Citing unnamed sources, Finland’s Iltalehti reported the Russian warning to politicians, who refrained from specific comment. Prior to this warning, the local media outlet noted expectations that Finland would be cut off from Russian gas after May 23rd, when its next contract payment with Gazprom comes due and the country refuses to pay in rubles.…

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