Category: Latest News

Experts at LUMS moot address climate and energy hurdles

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LAHORE: A three-day conference on development economics at the Lahore University of Management Sciences (LUMS) brought together global experts to discuss critical issues, with a special focus on climate and energy challenges facing South Asia.The G²LM|LIC/Path2Dev/BREAD Academic & Policy Conference highlighted key research findings, including studies that found high temperatures and prepaid electricity meters can restrict access for impoverished communities.Other topics explored during the discussions included:Employment and Human Capital: Research suggested that improved information sharing can boost female labor force participation.Education and Health: These areas were underscored as essential for…

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China receives fourth LNG cargo from sanctioned Russian Arctic project

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BEIJING: A fourth tanker carrying liquefied natural gas (LNG) from Russia’s sanctioned Arctic LNG 2 project has discharged its cargo at a Chinese port. Ship-tracking data from LSEG confirms that the sanctioned Russian tanker Buran arrived at the Beihai LNG Terminal in Guangxi on September 12 and discharged its 166,000 cubic meters of LNG cargo, which was loaded at the Gydan facility in northern Siberia on August 22.This latest delivery brings China’s total LNG intake from the sanctioned project to over 552,000 cubic meters since late August. Meanwhile, a fifth…

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President Zardari seeks to resolve ‘outstanding issues’ with Shanghai Electric after K-Electric deal collapse

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SHANGHAI: President Asif Ali Zardari has invited the Shanghai Electric Power Company to reinvest in Pakistan, assuring that any “outstanding issues” will be resolved amicably and in a spirit of mutual cooperation. The outreach follows Shanghai Electric’s decision to terminate its long-pending offer to acquire a majority stake in K-Electric, citing unfavorable changes in Pakistan’s business environment and the seller’s failure to meet closing conditions.The President’s assurance came during a meeting with Shanghai Electric Chairman Wu Lei in Shanghai, where he also encouraged the company to explore further investments in…

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Petrol price steady as diesel costs rise by Rs2.78

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Petrol-price

ISLAMABAD: The federal government has increased the price of high-speed diesel (HSD) by Rs2.78 per litre for the next fortnight, while keeping the price of petrol unchanged. A notification from the Finance Division announced the new HSD rate is Rs272.77 per litre, with petrol remaining at Rs264.61 per litre.The decision means that while middle- and lower-middle-income groups using smaller vehicles will be unaffected, the cost of goods for the general public is expected to rise. The transport and agricultural sectors rely heavily on HSD, with price hikes typically leading to…

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Hyderabad Electric Supply fined Rs100m for repeat offense

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has imposed a Rs100 million fine on the Hyderabad Electric Supply Company (Hesco) for continuing excessive loadshedding on commercial grounds, violating regulations.This latest penalty follows a Rs50 million fine levied in April 2024 for the same offense: loadshedding based on Aggregate Technical and Commercial (ATC) losses, despite a lack of power generation shortfall. Hesco had previously failed to pay the initial fine or halt the practice, choosing instead to appeal the decision.After issuing a show-cause notice and holding legal proceedings, Nepra determined…

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