Author: Admin

‘Daducha Dam heading towards swift completion’

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dam

Minister says work on water project will continue at ‘full speed’ RAWALPINDI: The Daducha Dam, an indispensable water project for the people of Rawalpindi previously marred by years of delays, is back ‘on track’ with its completion planned in less than two years. These remarks were made by the provincial Minister for Primary and Secondary Healthcare and Population Welfare Dr Jamal Nasir during his visit to the dam site on Friday, a statement said. According to the statement, Dr Nasir acknowledged the personal interest shown by caretaker Punjab Chief Minister…

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Performance of Shamshad better than Dar’s, says noted economist

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Shamshad-Ather

ISLAMABAD: Dr Shamshad Akhtar’s performance as finance minister is “B negative” and her predecessor Ishaq Dar’s is “C negative”. This assessment was made by Dr Hafiz Pasha while speaking on Paisa Bolta Hai with Anjum Ibrahim on Aaj television. He said the PML-N’s economic wizard Ishaq Dar, he added, caused a great damage by trying to fix the exchange rate through ‘artificial’ means. He deplored the way Ishaq Dar maintained two exchange rates and difference between them was Rs 30 at one time; it caused huge loss to the remittances, and reserves…

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Power producers: CPPA-G makes payments prior to year end

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Power-control

ISLAMABAD: The Central Power Purchasing Agency-Guaranteed (CPPA-G) has made payments of Rs 205 billion to different power producers, including government-owned power plants just two days before the end of 2023. According to sources, Rs131 billion has been paid to government-owned power plants recently approved by the government whereas Rs 74 billion has been released to other power producers. Of Rs74 billion, Rs57 billion has recently been approved by the ECC on account of K-Electric subsidy and Rs17 billion came from operations of Discos. However, an insider told BR that the balance of…

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Suki Kinari hydel project: Delay in power evacuation to attract LDs, govt warned

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dam

ISLAMABAD: The Ministry of Planning, Development and Special Initiatives (MoPD&SI) has warned the government that any delay in evacuation of power from $2 billion 884-MW Suki Kinari hydel project being established under CPEC will attract Liquidity Damages (LDs), well informed sources told Business Recorder. Secretary Planning, Development and Special Initiatives Awais Manzur Sumra sent this unambiguous message to Secretary Power Division. Power Division has been informed that 884-MW Suki Kinari Hydropower project is one of the biggest investment power projects under CPEC at a cost of $ 2 billion invested by,…

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SIFC wants to know if Aramco’s interest in refinery project persists

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SIFC-initiatives

ISLAMABAD: The Apex Committee (AC) of the Special Investment Facilitation Council (SIFC) has directed Pakistan’s ambassador to Saudi Arabia to approach Saudi Aramco Refinery Project regarding current status of their interest in the refinery project, well informed sources told Business Recorder. The AC also directed the Petroleum Division to assess the investment interest of other parties also in the project. Regarding requirement in Brown/ Green Field refinery sector, Petroleum Division intimated that there will be a gap between local refining production and projected demand of petroleum products of around 9 Million…

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