Category: News & Announcement

The energy sector poses one of the biggest challenges the country faces today. It stands out as the biggest drain on both the national exchequer and the public purse. The inability of successive governments to turn around the power sector on a sustainable basis has, in fact, become a source of national disgrace. The circular debt continues to build on. Its root cause continues to be high and stubborn system losses. No effort will ever succeed unless this black hole of an aggregate 25 per cent loss is plugged. That…

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ISLAMABAD: The government on Sunday jacked up the petroleum levy on POL products for pocketing at least additional Rs4 to Rs5 billion through consumption of two major products petrol and diesel, reported. The petroleum levy on diesel has been increased by Rs7.05 to Rs25.05 per litre. If the government did not increase the PL (petroleum levy) on diesel, diesel would be cheaper by Rs7.05 per litre.  The petroleum levy on petrol increased by Rs4.75 to Rs19.75 per litre. If not increased, the petrol would have been cheaper by Rs4.75.  The…

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ISLAMABAD: The indications from Saudi Arabia so far received suggest that it would not install a world class state-of-art and deep conversion refinery and petrochemical complex in Gwadar Port as there is no system available to evacuate the petroleum products. However, Saudi Aramco has hinted at setting up the refinery with petrochemical complex at Hub, or at Somiani – coastal areas of Balochistan, which are not far away from Karachi, a senior official privy to the development confided to the News. “In Hub area, UAE is already in process of…

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The agreement to end the brutal U.S.-Taliban conflict in Afghanistan, which began nearly two decades ago with the 2001 terrorist attacks in New York and Washington and became America’s longest war, was signed on Saturday under the gaze of tough men in turbans, who clapped and shouted “Allahu akbar!” President Trump hailed the accord, formalized with signatures and a handshake between U.S. negotiator Zalmay Khalilzad and his Taliban counterpart, Abdul Ghani Baradar, as historic. “There hasn’t been a moment like this,” Trump said at a White House news conference. “We’ve had…

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As the World Health Organization on Friday upgraded its global risk assessment for the coronavirus to “very high”, anxious oil markets are wondering when might be a good time to panic about the oil demand and its effect on inventories, investment dollars, and ultimately, oil prices. Where We Stand So far, the coronavirus has infected more than 80,000 people worldwide, claiming nearly 3,000 lives. It has spread to 49 different countries in just a few short weeks, and continues to disrupt airline travel on a massive scale. In California, one…

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