Author: Admin

ISLAMABAD: The World Bank (WB) is preparing a new Country Partnership Framework (CPF) for the next five years from fiscal year 2022 to 2026 with possible portfolio of $10 to $12 billion for different sectors of economy of Pakistan. The Pakistani authorities are expecting that the World Bank Group will extend lending of around $12 billion for five years period under the CPF. “Although, the WBG has not officially communicated the exact size of portfolio but it should be around $12 billion,” a top official of the PTI led government…

ISLAMABAD: The Federal Government and Karachi Electric (KE) teams are said to have failed to evolve a consensus on course of action to resolve receivables/ payables dispute, well-informed sources in Power Division told Business Recorder. Power Division summoned the KE top brass to convey the Prime Minister’s message to them that no further delay will be accepted in resolution of issues, which are hindering the sale-off of 66.4 per cent stake of M/s Abraaj to Chinese company, M/s Shanghai Electric Power (SEP). The dispute between the KE and the government…

KARACHI: The country lost Rs122 billion in last two years due to delayed on spot LNG purchase and production of expensive power through furnace oil, inflicting a colossal sense of foreboding and frustration among the nation. This was stated by Shahzeb Khanzada in his Monday’s episode of ‘Aaj Shahzeb Khanzada Kay Sath.’ Khanzada said due to the failure to contract LNG purchase through futures market, the people not only suffered acute shortages of the heating and cooking fuel in the intense winter, the country on the other hand lost Rs35…

Pakistan’s federal government is planning to build modern cities on the Bundal and Dingi islands, which could ease pressure on Karachi, the country’s financial hub. Experts say it would be an ecological catastrophe. The government’s decision to establish the Pakistan Islands Development Authority and bring the Bundal and Dingi islands off the Karachi coast under federal authority shocked Majeed Motani, a 70-year-old fisherman. “Our forefathers came to these islands centuries ago. Now, the government is trying to occupy them. It is a threat not only to our livelihoods but also…

When Jim Clayton* still worked in a coal mine, he would head to a nearby bar to settle his accounts. The pub effectively became his office. When after 22 years in the industry he quit his job and decided to run the pub instead, it was easy to choose a new name for the place. These days, The Office has become a hangout for many of those earning a living in the coal, oil and gas industry in northeastern Wyoming. The Office is situated along a thoroughfare just north of Gillette, the self-declared…