Category: Recent Post

ISLAMABAD: The Auditor General of Pakistan has alleged that the contract of Mohmand Hydropower Project to M/s CGGC-DESCON (JV) was awarded without adequate fair competition. The AGP, in its audit report of FY 2019-20, said that as clarification of PPRA “whenever a procuring agency is confronted with such a situation whereby the rate quoted by a single bidder cannot be compared so as to declare it as the lowest rate or otherwise, it may make prudent decision.” AGP said that while making a decision, the following factors may be kept…

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According to the IMF’s World Economic Output 2020 released recently, China has now overtaken the US to become the world’s largest economy. Yes, you read that right. The International Monetary Fund (IMF), using the more reliable and now widely accepted yardstick, called the Purchasing Power Parity (PPP), has determined China’s economy at $24.2 trillion compared to America’s $20.8 trillion. The PPP calculation method used by the IMF enables you to compare how much you can buy for your money in different countries. The economists have traditionally been using MER (market…

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ISLAMABAD: The government has geared up the process on two projects for turning Thar coal into gas and diesel and in is contact with two Chinese companies — China Ghazuba and China Coal, Special Assistant on Coordination of Marketing & Development of Mineral Resources Shahzad Syed Qasim disclosed this to The News on Monday. “We want to initiate two projects; one on Coal to Gas (CTG) and the other one on Coal to Liquid (CTL) and to this effect we have asked Engro Fertilizer, Fauji Fertilizer and Fatima Fertilizer to…

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ISLAMABAD: Prime Minister’s Special Assistant on Revenue Dr Waqar Masood has reportedly proposed that loans of Power Holding Limited (PHL) should be converted into the government’s capital investment instead of public debt, well informed sources in Finance Ministry told Business Recorder. Dr Waqar Masood was head of subsidy cell in the Finance Division prior to his elevation as SAPM on Revenue. The federal capital is abuzz with speculation that he is now tipped to play a more critical role in economic decision making. The country’s business circles are also discussing…

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The most pragmatic statement in this regard was probably given by the Russian President Vladimir Putin when he stated that whosoever would become a leader in AI would lead the world. This statement reflects that today states are driven towards this technology in a fear of being left out. This has generated a competition and arms race with a special focus on utilizing AI in military strategies. In South Asia, India aspires to dominate the region in this evolved domain as well. In this regard, India has been actively involved…

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