Prior to the unwitting boost that Russia’s ongoing failure in Ukraine has given the U.S., NATO, and Europe, Washington’s intentions regarding Iraq were mixed. On the one hand, the reasons why the U.S. invaded Iraq – to secure oil supplies that would lessen its reliance on Saudi Arabia, to control the centre ground in the Middle East, and to counteract…
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Pakistan’s oil sector on Monday sought urgent revision in the exchange loss adjustments mechanism on import of petroleum products as the letters of credit limits have shrunk by 15-20 percent overnight on account of rupee devaluation. Oil Companies Advisory Council (OCAC), the representative body of refineries and oil marketing companies (OMCS), in a communication to the Petroleum Division stated that…
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The development of C-5, which is the fifth unit of the Chashma Nuclear Power Generating Station, has hit a snag because of the reported refusal by the Ministry of Finance to furnish a sovereign guarantee, sources told Dawn on Monday. The Chinese partner has agreed to provide financing for up to 85 per cent of the $3.7 billion nuclear power…
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The government and the International Monetary Fund (IMF) on Tuesday began discussions on the country’s economic and fiscal policies and the reforms required to complete the much-delayed ninth review of a $7 billion loan programme. A delegation of the international money lender led by IMF Mission Chief Nathan Porter held a meeting with Finance Minister Ishaq Dar and other officials…
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Pakistan could face a crunch in fuel supplies in February as banks have stopped financing and facilitating payments for imports due to depleting foreign exchange reserves, traders and industry sources said. The country is facing a balance of payments crisis and the plummeting value of the rupee is pushing up the price of imported goods. Energy comprises a large chunk…
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Islamabad: On 31 January, chapter one of the series, ‘Busting the Myths’, was published by Renewables First (RF), an energy and environment think-tank. The research claims to bust myths about renewable sources and their integration into the energy mix of Pakistan. The first chapter explains the reality behind the myths about baseload energy and the need for transition to renewable…
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Recently around 41 innocent people were burned alive in a bus on Quetta-Lesbela Road.🚑🚒 It is unfortunate that while our priorities are to spend millions on Motorways and Orange/ Red Lines in other provinces, main RCD highway of Baluchistan (which connects Karachi to Afghanistan via Chaman and Iran via Taftan) is still single carriageway and is prone to many traffic…
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