Category: Highlights

The Economic Coordination Committee (ECC) of the federal cabinet has approved to implement a mechanism of fortnightly reimbursement of price differential claims (PDCs) of the oil marketing companies (OMCs) and refineries in order to avert shortage of petroleum products.Federal Minister for Finance and Revenue Shaukat Tarin presided over the ECC meeting on Monday.The Ministry of Energy (Petroleum Division) submitted the summary on reimbursement of PDCs of the OMCs and refineries, in line with the PM relief package of reduction in the consumer prices of motor spirit and diesel by Rs10…

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Pakistan International Airlines (PIA) has been granted two more operating licences by Chinese authorities for Guangzhou and Xian in addition to Beijing.PIA Country Manager Qadir Bux Sangi said on Sunday that PIA has also got approval from the Chinese authorities to operate chartered cargo flights for Kunming and Shenzhen while approval for Xinjiang is under process and hopefully, PIA will get its approval next month.He expressed the confidence that the chartered cargo flights to different Chinese cities would help further enhance trade and economic activities between Pakistan and China.He said…

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China is extending cooperation with Pakistan in enhancing the use of nanotechnology in the agriculture sector, WealthPK reported on Sunday.High-efficacy agriculture will be aided by nanotechnology, which will put conventional agriculture on the path to high-quality connotative development.It can effectively support farmers’ increased output and income while also addressing issues such as abandoned farms and the negative consequences of pesticide and fertilizer overuse.“We tend to extend this achievement to our iron-brother Pakistan,” Dr Wu Zhiguo, Director of Gansu Academy of Sciences’ Nano Application Technology Research Office, said in a video…

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While expressing concern over the rising oil prices, Economic Coordination Committee (ECC) of the Cabinet has held that capping of fuel price would generate additional burden on the exchequer, especially in the current international scenario and oil market volatility. The ECC, headed by Finance Minister Shaukat Tarin shared their concern during the ECC meeting held on March 7, 2022 when reduction in electricity tariff by Rs 5 per unit came under discussion. On February 28, Prime Minister Imran Khan, who is facing severe political pressure from the opposition parties, announced…

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While some care has been taken to phase in the UK ban on Russian oil, the UK and US cannot cut out the world’s third largest oil producer without tangible consequences. Some of this is already factored in to the global price for crude oil and record pump petrol and particularly diesel prices. The price of an average tank in the UK is approaching £90 now, and there is a clear path to £100. Even without formal diplomatic bans, an unofficial embargo is occurring in the markets. Shell was pilloried…

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