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The sudden disruption to our lives caused by coronavirus forewarns of the havoc which can be unleashed by impending climate related disasters. The varied impacts of climate change are already being experienced, and are expected to get worse, if the world does not get its act together. In fact, some underlying causes of climate change such as deforestation and factory farming have also enabled pathogens to mutate and transmit more readily across species, whereby increasing the risk of pandemics such as Covid-19. While Pakistan still contributes an insignificant proportion to…

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There were times when our energy sector was rated in the region as one of the best performing and forward looking sectors. It was a great blend of well-performing entities of private and public sectors. Public sector entities such as Southern Gas Company (SSGC), Sui Northern Gas Pipeline Company (SNGPL), Pakistan Petroleum Limited (PPL), Oil and Gas Development Company Limited (OGDCL), Pakistan State Oil (PSO) were listed as blue chip companies, with PSO listed among the Fortune 500 companies of the world. Likewise, in power sector, with WAPDA in the…

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Moscow, (APP – UrduPoint / Pakistan Point News – 12th Feb, 2021 ):Russia’s largest oil producer Rosneft on Friday announced a nearly 80 percent drop in net profit in 2020, following a record plunge in crude oil demand caused by the coronavirus pandemic. The state-controlled producer declared a net profit of 147 billion rubles ($2.0 billion) in 2020, down 79 percent compared to the previous year. In 2019, before the onset of the pandemic and its devastating impact on the oil and gas industry, Rosneft — in which Britain’s BP…

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KARACHI: Sindh Chief Minister Syed Murad Ali Shah said on Friday that given the vast resources of the province, Pakistan hasthe potential to become an exporter of electricity. He expressed this belief while addressing a reception hosted for the heads of foreign delegations visiting Karachi to partake in the seventh edition of Aman-2021 exercise, in which 45 countries are participating. The CM said the province was rich in resources, had one of the largest coal deposits in the world and was home to vast renewable energy corridors, which could be…

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ISLAMABAD: The circular debt is set to alarmingly increase up to Rs4,936 billion by financial year 2025 with an increase of 2.04 times from the current level of Rs2,400 billion, highlights the report on Pakistan’s Power Sector Circular Debt Causes, Consequences, and Remedies prepared by Pakistan’s leading economist Sakib Sherani of Macro Economic Insights (MEI). Sherani served as Member, Prime Minister’s Economic Advisory Council, and Principal Economic Adviser, Ministry of Finance, Government of Pakistan. The stock of circular debt is still projected by MEI to increase to over Rs3,000 billion…

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