Month: January 2023

A loan agreement of Euro 120 million has been signed with France for the Khyal Khor 128 MW power project. News Jani

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France will provide a loan of 28.5 billion rupees (120 million euros) for the Khayal Khor hydropower project, a 128 MW facility located in the city of Patan in Khyber Pakhtunkhwa (KPK). A press release issued by the French Embassy said that a financial agreement was signed between the two governments in Islamabad on Monday. The agreement was signed by Secretary, Department of Economic Affairs (EAD) Dr. Kazim Naij, French Ambassador to Pakistan Nicolas Guille and Country Director of the French Development Agency (AFD) Philippe Steinmetz. The concessional loan from…

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Transfer of hydro powerhouses to provinces suggested

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A high level panel has recommended transfer of powerhouses of hydropower projects to respective provinces on IPP mode and issuance of bonds/ promissory notes to offset liabilities of Wapda, well informed sources told Business Recorder. The meeting was held last year in January but its minutes could not be issued as the then Deputy Chairman Planning Commission misplaced papers. Dr Jehanzeb Khan who is now SAMP on Governance Effectiveness claims that finally he has found the notes of the meeting after his departure from Planning Commission. He regretted delay in approval…

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Davos 2023: China reopens its doors with investment pitch to global elite

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Liu’s explicit pitch to global leaders gathered in Davos made it clear China wants international investors to play a key role in Beijing’s attempts to revive its slowing economy. “Foreign investments are welcome in China, and the door to China will only open up further,” Liu, a top economic tsar and confidant of President Xi Jinping, said. His speech to the World Economic Forum’s (WEF) annual meeting mentioned “strengthening international cooperation” and “maintaining world peace” 11 times. Liu made his speech as the release of new population data sounded an…

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S&P Global Mega Coding Competition Concludes at LUMS

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Lahore University of Management Sciences (LUMS), held a two-day technology event in collaboration with Institute of Electrical and Electronics Engineers bracket (IEEE) Society, titled CodinGuru 5.0. in partnership with S&P Global Pakistan. This competition aimed to improve the tech quotient of the students and encourage ambitious and skilled coders to enhance their abilities. Senior Director Commercial S&P Global, Shafqaat H. Shah, addressed the audience and said, “At S&P Global, we not only deploy cutting-edge technologies such as artificial intelligence (AI), machine learning (ML), virtual reality (VR), data science, and analytics…

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World owes Pakistan $30b a year for polluting

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The monsoon season of 2022 brought forth the most devastating floods to Pakistan. Two of the country’s provinces received 8x more rain than their 30-year average, resulting in widespread destruction and loss of life. A study conducted by World Weather Attribution has found that human-caused climate change significantly increased the intensity of the monsoon rainfall that Sindh and Balochistan experienced this year. It found that the rain during the region’s five most extreme days was 75% more intense than it would have been without the 1.2-degree Celsius increase in global…

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