September 2022
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Day: September 19, 2022
Master plan for sustainable development of mineral sector initiated
The Mines and Minerals Department has initiated a master plan to switch over from the traditional regulatory mode to a more facilitative, ease of business, investment attractive, sustainable, safe and mines workers welfare-oriented mineral sector. In this connection, the department organised a seminar here Sunday. Provincial Minister for Mines and Minerals Latif Nazar chaired the event via video link, while…
Read MoreOil And Gas Rules The Toronto Stock Exchange
After a three year absence, oil and gas companies are back with a bang on the Toronto Stock Exchange’s annual list of top stocks, the TSX 30, which features the top-performers over a three-year period. Based on dividend-adjusted share price performance, a total of 14 energy companies made the 2022 list of the 30 best performing stocks on the S&P/TSX index, posting…
Read MoreFears Of Economic Slowdown Cap Crude Prices
Oil prices have declined by around $30 a barrel since the recent peak in early June before the Fed and other central banks started aggressive interest rate hikes to fight runaway inflation. The tightening monetary policy is expected to slow economic growth, while several financial market indicators suggest that the markets expect recessions, which could slow global oil demand growth.…
Read MorePakistan mulls importing Russia oil on deferred payment
Pakistan can import oil from Russia on deferred payment as both countries are in talks to discuss the possibility, a senior government functionary revealed on Sunday after the recent meeting between Prime Minister Shehbaz Sharif and Russian President Vladimir Putin on the sidelines of Shanghai Cooperation Organisation (SCO) in Samarkand. The official, who was part of the prime minister’s delegation,…
Read MoreDISCOs oppose solar power plan
The government’s plan to inject 10,000 MW of electricity through solar power projects is under threat following opposition from power distribution companies interested in maintaining their monopoly. In order to retain their monopoly, Power Distribution Companies (Discos) are placing hurdles in implementing the net metering system for domestic consumers who have installed solar power systems. Prime Minister Shehbaz Sharif, and…
Read MoreAtif may be appointed new NTDC board chairman
The government is likely to appoint Atif Sabir Khan as Chairman Board of Directors (BoD) of National Transmission and Despatch Company (NTDC) in place of Naveed Ismail, as the company has witnessed a visible decline during the latter’s term, well-informed sources told Business Recorder. The other independent directors of NTDC will be Major General M Azeem Asif (retired), Khaqan Najeeb, Ishaq…
Read MoreMinistry of Energy: MoF seeks update on commitments made with IMF
Ministry of Finance has sought an update from the Ministry of Energy (Power Division and Petroleum Division) on commitments/ actions made with the International Monetary Fund (IMF) including power tariff adjustments and increasing PDL to Rs 50/ litre. The seventh and eighth combined reviews of IMF’s EFF Programme have been completed. The Memorandum of Economic end Financial Policies (MEFP) agreed…
Read MoreClimate change likely worsened floods in Pakistan: study
Human-caused climate change likely contributed to the deadly floods that submerged parts of Pakistan in recent weeks, according to a rapid analysis on Thursday looking at how much global heating was to blame. An international team of climate scientists at the World Weather Attribution group said that rainfall in the worst-hit regions had increased as much as 75 per cent…
Read MoreDHA penalises residents for installing rooftop solar panels
While the federal government is encouraging people to generate power through alternative energy sources to cut dependence on costly fuel, the Defence Housing Authority (DHA) has sent notices and imposed financial penalties on many of its residents for “violation” of its building control regulations by installing solar panels on their rooftops to generate electricity, it emerged on Friday. Earlier this…
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