Author: Admin

Diesel Price Increases for the First Time in Three Months, Petrol Unchanged

Admin
Diesel-Price

ISLAMABAD: The government has raised the price of high-speed diesel (HSD) by Rs5 per litre, marking the first increase in three months, while the petrol price remains unchanged for the next fortnight. According to an official announcement, the ex-depot price of diesel has been revised to Rs251.29 per litre, up from Rs246.29, while petrol stays at Rs247.03 per litre. In the retail market, diesel is being sold for Rs252 and petrol for around Rs248.50 per litre. The Oil and Gas Regulatory Authority (OGRA) calculated the revised prices based on global…

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Google Signs Nuclear Power Deal to Support AI Energy Demands

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Google-Signs

SAN FRANCISCO: Google has entered into an agreement to purchase electricity from small nuclear reactors developed by Kairos Power, aiming to power its growing artificial intelligence (AI) operations. This move follows similar initiatives, including Microsoft’s recent plans to source energy from the Three Mile Island nuclear facility. The deal marks a significant step in Google’s strategy to secure clean, reliable energy sources to support the expanding electricity needs of AI technologies. The first small modular reactors (SMRs) from Kairos are expected to be operational by the end of the decade,…

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CPPA-G Seeks Three-Year Extension on IFRS-9 Exemption to Avoid Credit Loss Risks

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power-gride

ISLAMABAD: The Central Power Purchasing Agency-Guaranteed (CPPA-G) has requested a three-year extension on the exemption from the applicability of International Financial Reporting Standards (IFRS) 9, until June 30, 2027, to prevent expected credit losses due to unresolved receivables in the power sector. In a response to the Securities and Exchange Commission of Pakistan’s (SECP) letter, CPPA-G highlighted the risks of recognizing credit losses under IFRS-9 on debts owed by the government, citing adverse impacts on the creditworthiness of power companies and their working capital lenders. SECP has exempted the power…

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Gwadar International Airport Inaugurated Virtually; Pakistan and China Sign 14 Accords, Including Currency Swap

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pak-china

ISLAMABAD: Pakistan and China signed 14 agreements on Monday, including a significant currency swap agreement, aimed at boosting cooperation across various sectors such as security, education, agriculture, and technology. The signing ceremony, witnessed by Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang, took place at the Prime Minister’s House. A key highlight was the virtual inauguration of Gwadar International Airport, a major component of the China-Pakistan Economic Corridor (CPEC), which both leaders hailed as a symbol of their enduring friendship. The agreements also include initiatives on smart classrooms, water…

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