Year: 2022

Prior IMF conditions: Domestic or geopolitical?

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The Khan administration has tabled two controversial bills in the two houses of parliament – 343 billion rupees money bill though its passage was required by a majority only in the lower house and the State Bank of Pakistan (SBP) amendment bill that envisages its autonomy – prior conditions imposed by the International Monetary Fund (IMF) and agreed on 24 November 2021 by the country’s economic team leaders – Shaukat Tarin, appointed Minister of Finance on 16 April 2021 and Dr Reza Baqir, Governor State Bank of Pakistan appointed on…

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How Indonesia, the world’s top thermal coal exporter, hit a supply crunch

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Indonesia, the world’s biggest thermal coal exporter, sent shockwaves through global energy markets this week by suspending exports of the fuel in January due to critically low coal supplies at domestic power plants. Indonesia, the world’s biggest thermal coal exporter, sent shockwaves through global energy markets this week by suspending exports of the fuel in January due to critically low coal supplies at domestic power plants. WHY DID INDONESIAN AUTHORITIES DECIDE TO ACT? Coal makes up around 60% of Indonesia’s energy mix and its energy ministry said by the start…

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34.8 bcm of Russian Gas Supplied Through Turk Stream in 2 years

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Total of 34.8 billion cubic meters (bcm) of gas was transported to Turkey and Europe in two years via the TurkStream pipeline. The pipeline was inaugurated on Jan. 8, 2020, by President Recep Tayyip Erdoğan and his Russian counterpart Vladimir Putin. Around 18 bcm of gas flowed to Turkey and 16.8 bcm to Europe via the TurkStream Natural Gas Pipeline, between Jan. 1, 2020, to Dec. 31, 2021. The TurkStream project has a total capacity of 31.5 bcm. The first line with a capacity of 15.75 bcm is designated for…

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Tax exemptions: Two AJK hydropower projects concerned at proposed withdrawal

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Two hydropower projects of cumulative capacity of 1824.7MW being established in Azad Jammu and Kashmir (AJ&K) have raised serious concerns on proposed withdrawal of tax exemptions including imposition of 17 percent GST on import equipment and machinery. Li Xiaotao, Chief Executive Officer, Azad Pattan Hydropower Project and Zhang Jun CEO/Team Leader Kohala Hydropower Project have written letters to Special Assistant to Prime Minister on CPEC Khalid Mansoor and conveyed their concerns over the proposed amendments through Finance Supplementary 2021-22. The 1124MW Kohala Hydropower Project in AJ&K is the largest foreign…

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Murunj Dam to generate 12 MW cheap electricity

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Murunj Dam Project to be constructed on Kaha Nullah, 116 km west of Rajanpur would generate 12 megawatt (MW) cheap and environmental-friendly electricity, while having the gross water storage of 800,000 acre feet. Kaha Nullah is one of the largest hill torrents of the Koh-i-Sulaiman Range located in the vicinity of Rajanpur with average annual inflows of 183,000 acre feet. The project would have tangible benefits and bring about 120,000 acres into irrigable, ground water recharging, and fisheries development. The implementation of project would have significant positive impact and uplift…

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