Category: Highlights

PM Imran admits ignorance about Pakistan’s power sector woes before taking office

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LAHORE – Prime Minister Imran Khan has admitted he was not fully aware of how bad Pakistan’s financial situation was when he came into power two years ago. The cricketer-turned politician, who became the 22nd premier of the South Asian country in 2018, appeared on a national TV for an interview to share, “Before becoming the prime minister, I was incognizant of how circular debt of the country rises”. He told the host of Samaa’s NewsBeat that he did not have a button to turn everything right, adding that when he came…

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WAPDA under a Dynamic Chairman Overcoming water shortages, completion of huge multiple projects get underway:

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Daily Pakistan Observer interviewed him to learn about his contribution in bringing back the past glory of WAPDA and it is being presented for the readers in the form of questions and answers.PO: What are your achievements as Chairman WAPDA from the year 2016 onward after taking the charge of this office?CW:The base of whatever we developed in WAPDA was provided by our predecessors and as per history of WAPDA it played a core fundamental role in development of Pakistan. After its inception in 1958, WAPDA has played a very…

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China’s Top Refiner Sees Oil Product Demand Peak By 2025

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China’s largest refiner, Sinopec, expects domestic demand for oil products to peak by 2025 due to COVID impacts and the rise of electric vehicles, Argus reported on Friday, citing Sinopec’s research think-tank as saying in its annual report. “China’s oil products will enter a final growth phase before peaking in the next five years,” the Economics and Development Research Institute (EDRI) at Sinopec said, as carried by Argus. According to the research institute, gasoline demand in China will likely peak in 2025, while demand for diesel could peak as soon…

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A Looming Decision From The Fed Could Send Gold Soaring

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The Governing Council of the ECB met last week, announcing significant, dovish changes to its monetary policy . First of all, the ECB decided to increase the envelope of the pandemic emergency purchase program (PEPP) by €500 billion to a total of €1,850 billion. It also extended the horizon for net purchases under the PEPP to at least the end of March 2022. Second, the ECB decided to extend the reinvestment of principal payments from maturing securities purchased under the PEPP until at least the end of 2023. Third, the ECB eased the conditions…

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PIAF chairman rejects jump in oil prices

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The Pakistan Industrial and Traders Associations Front has rejected jump in prices of petroleum products for the second half of December 2020 despite the fact that Pakistan’s headline national inflation is still in high range of over 8 per cent, warning the authorities that inflation above 6 percent could hurt economic growth. In a joint statement with vice chairman Javed Siddiqi, Mian Nauman Kabir said that for the second half of Dec, the government increased the prices of petrol by Rs3/litre, diesel Rs3.01/litre, kerosene by Rs5/litre and Light Diesel Oil…

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