Category: Recent Post

The Manila-based Asian Development Bank (ADB) has communicated to the Power Division in plain words that it will not extend $400 million loan for multi-billion dollars Advanced Metering of Infrastructure (AMI) project if its scope is changed and also communicated to the government to pay over $2.2 million penalty as commitment charges for not utilising the loan for the project under the existing scope, a senior official in the Ministry of Energy told The News. The Advanced Metering of Infrastructure (AMI) project was conceived and approved in 2016 by the…

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KE and Karachi share a relationship that extends over a century. We are deeply enmeshed in the fabric of this city and have witnessed its growth from humble origins to today’s bustling megalopolis. Today, Karachi is responsible for 20% of Pakistan’s GDP, contributes over 55% of federal tax revenue, and handles over 95% of foreign trade through its ports. The city’s 7 industrial zones – which have been exempted from load-shed since 2010 – are responsible for almost 40% of the large-scale manufacturing employment of the country. This boom in…

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Kuwait Ports Authority (KPA) has approved a proposal to build the Middle East’s first city to serve electric vehicle manufacturers, the authority said in a statement on Sunday. The statement does not make clear where the project, called EV City, will be located. The design and construction tendering process will be during the 2011/22 fiscal year, said KPA’s General Manager Yousef al-Abdullah al-Sabah. KPA noted that electric car makers do not use local distributors or dealers and sell their vehicles directly to consumers, adding that it was common for ports…

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With oil and gas exploration and production flows weakening over the few years, reserves running dry, and discoveries remaining small and insignificant, FY20 was a weak link in for the sector not only due to the pandemic but also extreme volatility in oil prices to a point that they turned negative. them. Overall, oil production declined by 14 percent year-on-year, while gas production which fell by 8 percent year-on-year in FY20. The oil and gas exploration and production sector has also been facing liquidity constraints where companies have been facing…

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As petrol stocks plummeted to three-five days’ consumption cover throughout the country, except Sindh, the government increased its price by Rs1.71 per litre and decided to change berthing order of various oil vessels. A senior government official told Dawn that the country’s overall petrol stocks had fallen below 260,000 tonnes that were equivalent to less than 10 days of consumption. After excluding Sindh where petrol stocks are enough for about 30 days, the product’s availability in Punjab and Khyber Pakhtunkhwa is for less than five days and in Balochistan and northern areas…

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