Category: Recent Post

IF you’re confused by all the talk around the LNG import issue these days, there is one thing to focus on which helps explain it all. Winter is peak season for gas demand, there are always shortages as everyone knows for many years now, and arrangements for LNG imports for December, January and February have to be made months in advance. Failure to make advance arrangements means higher costs. And that is exactly what has happened here. The way LNG imports work is a little more complex than oil deliveries.…

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ISLAMABAD: In a major development, the Hubco Power Plant in Balochistan that operates only on one percent of its capacity in the entire year and the government owes it Rs260 billion as capacity payments for next seven years, has offered the federal government to buy it out for Rs65 billion. Tabish Gauhar, Special Assistant to Prime Minister, confirmed to The News, saying: “CEO of Hubco Power Plant Khalid Mansoor along with his legal team came up with the proposal offering the federal government to buy it out at Rs65 billion.”…

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Pfizer and BioNTech say they’ve won permission on Wednesday for emergency use of their Covid-19 vaccine in Britain, the world’s first coronavirus shot that’s backed by rigorous science — and a major step toward eventually ending the pandemic. The move makes Britain one of the first countries to begin vaccinating its population as it tries to curb Europe’s deadliest Covid-19 outbreak. British Prime Minister Boris Johnson said it was “fantastic” that the country’s medicines regulator had formally authorised the Pfizer-BioNTech vaccine for use, a move that he said would get…

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KARACHI: The country’s exports in November rose 7.2 per cent year-on-year to $2.156 billion from $2.011bn in November 2019, Adviser to PM on Commerce and Investment Abdul Razak Dawood said in a tweet on Tuesday. Exports during the month under review were highest in 30 months since peaking at $2.227bn in May 2018. “I would like to share that in absolute value, our exports have increased to $2.156bn in November as compared to $2.011bn in November 2019. For the first five months of the current year, the exports have increased…

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KARACHI: Various industrial areas in the city are facing severe low gas pressure despite the federal government’s assurance of uninterrupted gas supply in winter, heads of industry associations said on Tuesday. President SITE Association of Industry Abdul Hadi said the area is still deprived of consistent and committed gas pressure due to which many industrial pockets are struggling to meet export orders which surged after Covid-19 lockdowns were lifted. The federal government had committed in October to provide consistent supply of gas to Karachi industries at substantially increased tariff by…

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