Year: 2022

2013 Bench Knew fallout’ of cancelling Reko Diq Deal

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The counsel for the Balochistan government on Tuesday informed a five-judge Supreme Court bench, headed by Chief Justice Umar Ata Bandial, that the presidential reference regarding the Reko Diq agreement was maintainable because it was a matter of public interest. Lawyer Salahudin Ahmed also informed the bench that despite elaborating dire consequences, a three-judge bench of the apex court led by then chief justice Iftikhar Muhammad Chaudhry did not stop the proceeding and declared the Reko Diq deal as void in 2013 which became the cause of $10 billion award…

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CPEC: China Pakistan Economic Corridor New era of cooperation & exchanges | By Guo Guiling, Beijing

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History traced back 2000 years ago shows Pakistani and Chinese scholars, monks and businessmen followed the ancient Silk Road and crossed Karakoram Mountains to carry out cultural exchanges and trade. Pakistan is one of the first countries to participate in the Belt and Road Initiative. CPEC, a landmark project of “BRI”, has gradually shown practical results in Pakistan in the past 10 years since its launch in 2013. The article “Pakistanis Perceive China as “Their Best Friend” published by the US “Diplomat” in October 2022, more than 1,200 Pakistanis participated…

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Germany Prepares Billions Of Euros In Case Of Winter Blackouts

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Germany is putting in place emergency measures in case of blackouts this winter, Reuters has reported, citing several unnamed sources familiar with the preparations. One of the measures involves the central bank of Germany hoarding billions of euros in case of a run on banks. The possibility of putting limits on bank withdrawals is also among the options. Priority access to fuel is also being discussed some of the Reuters sources told the news agency.Government officials have said the risk of a blackout this winter is small but the head…

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China-aided hydropower project bolsters Pakistan’s energy structure, transforms lives

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Life has taken an incredible turn for 24-year-old Qais Qadeer when he, as a scholarship student a few years ago, joined China Three Gorges Corporation, a Chinese company constructing a hydropower plant on Pakistan’s river Jehlum. Now working as an operation engineer at the Karot hydropower project in the country’s eastern Punjab province, Qadeer told Xinhua that he is living a successful and fulfilling life that a person like him could never dream of. The project is one of the China-aided power projects being built in the country under the…

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Star Hydro Power case: PPIB in trouble

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Private Power & Infrastructure Board (PPIB) is reportedly in trouble after an arbitration award by Multilateral Investment Guarantee Agency (MIGA) in M/s Star Hydro Power case, in light of a document signed in 1986 by the then Economic Affairs Minister, well informed sources in PPIB told Business Recorder. Finance Division, sources said, has shared a letter which indicates a briefing note from MIGA for alternate MIGA Director for Pakistan on June 17, 2022, wherein MIGA provided breach of contract to Korea Water Resources Corporation and Daewoo Engineering and Construction Company, the…

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