Category: Recent Post

ISLAMABAD: Circular debt has haunted every government and same is the case with the current Pakistan Tehreek-e-Insaf (PTI) administration. It has made efforts to control losses and improve bill recoveries. Still, the debt has continued to surge and it now exceeds Rs2 trillion. Faulty agreements with the independent power producers (IPPs) are mainly blamed for the hike in electricity prices. Capacity payments to power producers are said to have reached Rs900 billion and will jump up to Rs1.6 trillion in coming years. A close aide to Prime Minister Imran Khan…

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LONDON: prices fell on Thursday as new restrictions to stem a surge in Covid-19 infections increased uncertainty over the outlook for economic growth and a recovery in fuel demand. Brent crude LCOc1 futures dropped $1.39, or 3.2%, to $41.93 a barrel by 1247 GMT, while US West Texas Intermediate (WTI) crude CLc1 futures were down $1.41, or 3.4%, to $39.63. Some European countries are reviving curfews and lockdowns to try to contain the rise in new coronavirus cases, with Britain expected to impose tougher Covid-19 restrictions on London from midnight…

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Company responses to the coronavirus pandemic may have contributed to deteriorating safety at Norway’s oil and gas infrastructure, which has seen 50 serious incidents so far this year—double that from the same time last year and four times higher than in 2018, the Petroleum Safety Authority Norway (PSA) said on Wednesday. The regulator is concerned about the alarmingly high number of incidents and has asked companies to prioritize safety. “This trend is a source of concern,” PSA director general Anne Myhrvold said in a statement. Since the start of the…

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Riyadh: Global demand for crude could recover to pre-coronavirus levels by 2022, Saudi Aramco said Tuesday, as the International Energy Agency projected it could take at least a year longer. “The worst is definitely behind us” in the oil market, Aramco’s chief executive Amin Nasser told the Energy Intelligence group. The ETEnergyworld Energy Transition Summit aims to provide a one-of-its-kind platform for energy sector stakeholders, both global and domestic, decision makers, CEO and researchers to thrash out a roadmap for this mega transition in the energy landscape w Nasser’s comment…

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ISLAMABAD: Pakistan International Airlines (PIA) Chief Executive Officer (CEO) Air Marshal Arshad Malik on Tuesday announced an Rs100,000 reward for an air hostess of the national flag carrier, ARY News reported. PIA air hostess has set an example today after she returned lost cash to the vigilance team for return to its owner at Jinnah International Airport, Karachi. As per details, air hostess Bushara Saleem found leftover cash of 21,385 dirhams from the seat of the passenger. The passenger was travelling from Dubai to Karachi on PIA’s flight PK-214 and…

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