Year: 2022

SHPL-NTDCL dispute: Govt may engage international firm

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The Government is likely to engage an international firm to represent the government of Pakistan (GoP) at the London Court of International Arbitration (LCIA) in dispute with Star Hydro Power Limited (SHPL) and National Transmission and Despatch Company Limited (NTDCL), well informed sources told Business Recorder. In this regard, a meeting was held at the Office of the Attorney General on October 27, 2022, to discuss the way forward in the matter. The participants recalled the final arbitral award rendered by the LCIA on May 18, 2022, under the Power…

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UK’s Market-Defying North Sea Oil IPO Falls Flat

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After braving high-level market volatility in Britain’s biggest IPO of the year, North Sea oil and gas producer Ithaca Energy warned that any further boost to a UK windfall tax would render the aging basin uneconomical as an energy crisis engulfs Europe.  “The government has structured the EPL in a very thoughtful manner to continue to promote investment in the on Wednesday, the day the company went public.  However, Myerson continued, if the windfall tax is strengthened, and if “they take away the investment allowance, then obviously it will become…

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Tea Plantation to Help Pakistan Reduce Import Bill

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Pakistan can reduce its import bill by exploiting its great potential for growing tea on a large scale, Wealth PK reported. Tea is one of the most important high-value cash crops. Despite its low cost, tea is the most popular beverage in Pakistan. The country has great potential for tea plantation on a large scale. Abdul Waheed, Director of National Tea and High-Value Crops Research Institute Shinkiari, told WealthPK that the current rate of population growth showed that demand for tea would continue to increase over time, putting a strain…

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Gas Shortage to Haunt Consumers in Winter

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The gas shortage will haunt the consumers during upcoming winter season, as there in no improvement in the gas supply position in the country vis-à-vis the previous year.As much gas quantity as last year’s has been arranged for the upcoming winter season, said Minister of State for Petroleum Division Musadik Malik while addressing a press conference here Wednesday. However, the state minister hoped to give more relief to domestic consumers in upcoming winter than last year. An effective gas load management plan for the winter season is being finalized, which…

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Gas crisis set to worsen after Europe burns through winter stocks

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Europe may face an even more acute energy crunch next year after draining its natural gas tanks to get through the cold of this winter, the head of the International Energy Agency said on Wednesday, as the EU looks for ways to ease the crisis. European countries have filled storage tanks to around 90% of their capacity after Russia cut gas supplies in response to Western sanctions imposed over its invasion of Ukraine. Gas prices , which surged in the months after the invasion in February, have retreated. But that…

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