Category: Recent Post

The Pakistan Tehreek-i-Insaf (PTI) government on Friday unveiled Rs 8.4 trillion pro-growth and relief-oriented federal budget for the fiscal year 2021-22, with focus on pursuing all-inclusive, sustained and robust economic growth through comprehensive planning and development. The budgetary proposals were presented by Finance Minister Shaukat Tarin in the National Assembly, amid jeers from the opposition benches who shouted slogans and taunted the minister by laughing loudly as he praised Prime Minister Imran Khan’s economic initiatives. In his budget speech, Tarin said the government steered the economy out of crisis and…

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Thermal power generation has become the largest source of power generation in national electricity generation mix as the shares of hydro, nuclear and renewable power have declined in FY2021 as compared to FY2020. According to Pakistan Economic Survey 2020-21, currently thermal has the largest share in electricity generation and its percentage share in FY2021 has increased by almost one percent as compared to FY2020. In period from July to April 2021, the share of hydel has decreased to 30.52 percent from 30.92 percent during the same period of last fiscal,…

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The International Gas Union’s (IGU) recent report on world LNG markets found that the trade increased by only 1.4 mt to 356.1 mt compared to 2019 supported by increased exports from the US and Australia, together adding 13.4 mt of exports. Asia Pacific and Asia again imported the most volumes in 2020, together accounting for more than 70% of global LNG imports. Asia also accounted for the largest growth in imports in 2020—adding 9.5 mt of net LNG imports vs. 2019. While 20 mtpa in liquefaction capacity was brought on stream in…

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An accountability court in Quetta remanded former chairman Balochistan Development Authority and former security officer of Tethyan Copper Company into National Accountability Bureau’s custody for 15 days in the Reko Diq scam case. The accused persons were arrested from Islamabad four days ago. During the hearing, Judge Munawar Shahwani approved the anti-graft watchdog’s remand plea. It is pertinent to mention that NAB’s Balochistan chapter has filed a reference against 26 accused including the former officers of Balochistan government and international companies in the Reko Diq case. According to sources, the…

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Production cuts by OPEC+ countries, coupled with rising demand from reopening industries worldwide, are driving up oil prices. And oil’s upbeat prospects are helping the oil and gas industry reclaim investors’ attention. As such, we think popular oil and gas corporation Exxon Mobil (XOM), and China Petroleum & Chemical (NYSE:SNP), are well-positioned to capitalize on the industry tailwinds. But let’s find out which of these stocks is a better buy now. Read on.Exxon Mobil Corporation (NYSE:XOM) is a multinational company that explores for, develops and distributes crude oil, natural gas,…

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