Day: July 24, 2023

UBG President  Strongly Opposes Exorbitant Hike in Power Tariff

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zubair-tufail

(24th July 2023) United Business Group(UBG) representing the nation’s economic backbone, stands united in expressing profound concern and anxiety over the recent exorbitant increase in electricity tariffs. This hike has raised significant apprehensions among businesses, threatening to impact the purchasing power of consumers, lead to a decline in exports and investments, and potentially result in the closure of industrial units. President UBG Mr. Zubair Tufail emphasizes that the surge in electric tariffs will have a devastating effect on Small and Medium-sized Enterprises (SMEs) and cottage industries. Prior to this hike,…

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Ministry Energy to host Summit on PAKISTAN MINERALS SUMMIT

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Ministry-Energy

Ministry Energy government of Pakistan to host Pakistan Minerals Summit on August 01 in Islamabad. It will be curated by Nutshell Conferences Group. This highly anticipated event is themed “Dust to Development: Investment Opportunities in Pakistan” and aims to explore and capitalize on the vast potential of the minerals industry. Barrick Gold is supporting the Summit in partnership with the Government of Balochistan, Pakistan Petroleum Limited (PPL), Government Holdings Private Limited (GHPL), Oil and Gas Development Company Limited (OGDCL), Frontier Works Organization (FWO), Balochistan Mineral Resources Limited (BMRL) & Reco…

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The Largest And Most Powerful Wind Turbine Ever Built Is Now Operational

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Wind-Turbine

News about switching to greener energy sources is always good news, and this certainly counts: The world’s largest wind turbine constructed to date is now up and running and contributing to the power grid in China. The MySE 16-260 earns its largest-ever tag thanks to its rotor diameter of 260 meters (853 feet) and its swept area of 53,902 square meters (580,196 square feet); it’s also the most powerful wind turbine we’ve seen so far, offering 16 megawatts of power. Here are some more stats: The central tower stands some 152 meters (499 feet)…

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IMF blames Dar, Shau­kat Tarin for derailing programme

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IMF-blames

ISLAMABAD: Describing the failed four-year Extended Fund Facility (EFF) as a “missed opportunity”, the IMF blamed both the PTI and PDM, particularly under the economic stewardship of Shau­kat Tarin and Ishaq Dar, for irresponsible budgetary expansion and exchange rate interventions, respectively. The IMF staff report released after the signing of the $3 billion Standby Arrange­ment detailed step-wise ‘stop and go’ cycles of the $6.5bn EFF that repeatedly went off the track over almost four years. The fund separated the programme period broadly into three phases: first, an early phase with considerable success in…

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Petroleum dealers to meet Musadik today

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Petroleum-dealers

KARACHI: Petroleum dealers will meet Minister of State for Petroleum Musadik Malik on Monday (today) for an agreement on increasing their profit margin. The dealers are seeking a bigger share in the petroleum revenue and had threatened to shut petrol stations across the country if their demands are not met. On Friday, the strike was deferred for two days after a meeting between the Pakistan Petroleum Dealers Association (PPDA) officials and Mr Malik reached an agreement to increase the dealers’ profit margin. While talking to Dawn on Sunday, a PPDA…

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