PEC, PEDO team up to launch internship scheme for engineers

Pakhtunkhwa Energy Development Organization (PEDO) and Pakistan Engineering Council (PEC) have signed an agreement to start an internship program for fresh graduate engineers, said a press release issued here on Sunday. Under the agreement, PEC registered newly qualified engineers will be given one year training in PEDO and pay Rs.30,000 per month a stipend jointly. The main objective of the…

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SABIC, Aramco, Sinopec to assess viability of developing petrochemical complex

Saudi Basic Industries Corp. has signed a memorandum of understanding with energy giant Saudi Aramco and China Petroleum & Chemical Corp., known as Sinopec, to assess the economic and technical feasibility of developing an integrated petrochemical complex with an existing refinery in Yanbu. In a statement given to the Saudi Stock Exchange, SABIC noted that this MoU would be valid for 18 months.   The…

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Import of LNG: PLL likely to ink accord with SOCAR

The government is likely to allow Pakistan LNG Limited (PLL) to sign pact with Azerbaijani company M/s SOCAR/ SOCAR Trading for import of one LNG cargo monthly, sources close to Minister of State for Petroleum and Natural Resources told Business Recorder. Pakistan State Oil (PSO) and Pakistan LNG Limited (PLL) are importing Liquefied Natural Gas (LNG) under long-term LNG supply contracts…

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The discord around Reko Diq


The timeline of the initiation of work on gold and copper mines in Reko Diq in Balochistan’s Chagi district has yet to be announced. But with the Supreme Court clearance and adoption of the relevant resolutions in Sindh and Balochistan and the ratification of the deal by the federal cabinet and Senate, all roadblocks in making the deal operational have been removed. Both…

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The struggle for stability


In the absence of any systemic or meticulous approach to tackling deep-seated woes, the overall economic outlook appears to be blurred or bleak. But the firefighting mode is helping to superficially ease pressures on the external sector, possibly for a brief spell, while curbing domestic demand of imported goods/services amidst sliding GDP growth. However, the risk of foreign debt default…

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