Category: Highlights

In the 1990s Pakistan started off on an ambitious multi-step power sector reforms programme. It was a long and drawn-out process that began with the induction of independent power producers followed by the unbundling of WAPDA and creation of the National Power and Regulatory Authority (NEPRA). It was supposed to have culminated in the privatization of all major DISCOs. However, the process fell through for a number of reasons, including the lack of political will. Back in the 1980sn and 1990s, privatization and deregulation of public infrastructure services was a…

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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 3rd Oct, 2020 ) :Mines and Minerals sector has the potential to spur economic growth and job creation in Balochistan and the government had established state-run minerals companies, said a senior officer of the Mines and Minerals Department on Saturday. To general revenue from the mining sector, the government had formed the Balochistan Minerals Exploration Company (BMEC) and Balochistan Minerals Resource Company Limited (BMRL) to take mining lease in the province, he said while talking to APP. The senior officers said the initiative would lead to increase revenue generation in the province. “Now the companies can partner with the private sector…

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ISLAMABAD: Economic Affairs Minister Makhdoom Khusro Bakhtyar informed the World Bank (WB) on Saturday that the Pakistan government would be able to complete three different development policy credits in due time, if they approve economic reforms proposed by the World Bank and Asian Development Bank (ADB) intended to simplify the execution of development projects. The minister gave this briefing during a meeting with WB Country Director for Pakistan, Najy Benhassine, and shared Prime Minister Imran Khan’s direction to expedite the economic reforms in coordination with global donors. Bakhtyar urged the World…

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The Provincial Development Working Party has approved 34 schemes with an estimated cost of over Rs 50.186 billion, pertaining to Industries, Mines & Minerals, Education, Agriculture, Local Government, Health, Water, and Multi-Sectoral Development for the uplift of the province.  The 7th meeting of PDWP was held under the chairmanship of Shakeel Qadir, the Additional Chief Secretary P&D Department KP on Friday, which was attended by members of PDWP and concerned departments.  The forum considered 41 schemes pertaining to Industries, Mines & Minerals, Elementary & Secondary Education, Higher Education, Agriculture, Information,…

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Suncor Energy is cutting as much as 15 percent of its workforce—a total of 2,000 jobs—as demand destruction and low prices have created an adapt or die scenario for oil companies to contend with. Suncor notified its employees on Friday that it would make the cuts within the next 12 to 18 months, according to Bloomberg. The Calgary-based oil company is unsure exactly what form the job cuts will take—whether it will be in the form of natural attribution, early retirements, voluntary buyouts, or another method. Suncor’s job cuts follow…

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