Category: Highlights

President Joe Biden’s cabinet earlier this week unveiled a plan to boost the industry that promised new acreage, faster permitting, and billions of dollars in financing – part of his sweeping plan to fight climate change by decarbonizing the economy. “The distinction now is that we have a president and an administration that is really harnessing this opportunity to fight climate change and to create good paying union jobs,” Amanda Lefton, director of the U.S. Bureau of Ocean Energy Management, said in an interview. “We will soon be leading in…

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Pakistani currency continues its surge against the US Dollar in interbank market with the greenback losing its value to reach Rs 153.1 making it the lowest since June 13, 2019. On Wednesday, the PKR opened the trading day at 153.1 against USD, it even dropped to the day low of 151.200 before it rebounded. Since August 2020, PKR has continued to recover by more than Rs 13 against the USD rendering a 10% improvement in its value. However sadly the local assemblers, which are always too quick to revise the…

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KARACHI: The Searle has signed an agreement with Chinese pharmaceutical group for the manufacturing of novel coronavirus vaccine in Pakistan. The Searle Company has concluded an exclusive licensing and supply agreement with Livzon Mapharm Inc. for the recombinant novel coronavirus vaccine (V-01). The licencing agreement also covers the manufacturing transition of (V-01) in Pakistan,” a bourse filing said on Thursday. The recombinant novel COVID-19 vaccine developed by Livzon has shown promising results in phase I and II clinical trials. The phase-Ill clinical study will include multiple countries and enroll more…

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Finally, electric bus has made its debut in Pakistan. Yesterday, there was a soft launch of first electric bus by Sapphire Group in Karachi. The project does not aim to receive any operational subsidy from the Sindh government, yet still aims to be affordable for consumers. Moreover, the real benefit is in the form of reductions achieved in carbon emission. The world is moving towards cleaner transportation solutions. Battery electric vehicles (BEV) are the top choice as it is more efficient in terms of running and is practical anywhere in…

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Power rates hike in an economy like that of Pakistan not only further depresses the national economy, but also inflicts inflationary effects on general price structure for the common man of the country. It is a single factor, which adversely hits the lives of the poor and middle level citizens. The industry and agriculture are seriously affected in costs of production, resulting in the consequential impact. An analysis of the factors resulting in power rates would boil down to mismanagement of the power system,  especially due to high technical losses…

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