Category: Recent Post

Prime Minister Imran Khan recently said that Pakistan’s economy was on the right track since country’s current account balance recorded a surplus $424 million in July 2020. Pakistan has gone through this boom and bust cycles many times before: an import-driven boom, balance of payments crisis, International Monetary Fund (IMF) bailout, stabilisation, a period of growth and then back to a crisis. This time is no different. When the PTI government took over in August 2018, the current account deficit had grown to nearly 6 per cent of gross domestic product from…

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ISLAMABAD: Concerned over the poor performance of the power sector, the regulator has blamed the distribution companies (Discos) for overbilling consumers to cover up their inefficiencies and high system losses as the government struggles to put in place an improvement roadmap. In its “State of Industry Report 2019” cleared by the federal cabinet last week, the National Electric Power Regulatory Authority (Nepra) warns that continuation of existing policy of loadshedding in ‘high loss’ areas stifles sales growth and increases energy costs. “Backtracking from the reform agenda and not following it…

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The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), opposing the Economic Coordination Committee’s (ECC) decision of raising power tariff for the export sector by 1.5 cents amidst downfall of 20 per cent exports, has sought regionally competitive energy tariffs for domestic as well as export industries to capture the global market. FPCCI President Mian Anjum Nisar observed that amid worsening export volumes and halt in domestic industrial growth, the approval of 20 per cent hike in electricity rates to 9 US cents per kWh for the export sector…

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ATTOCK (Dunya News) – Special Assistant to Prime Minister on Climate Change Malik Amin Aslam Saturday said that provision of gas facility to 25 villages and adjacent localities of NA-56 had been approved. While addressing a gathering in Pindigheb, he said the government believed in across the board provision of facilities without any discrimination, adding that that NA 56 constituency remained ignored in past by the so called leaders who served their vested interest but did nothing for local people. He said that oil and gas companies were working in…

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HARIPUR: Landowners from the remote Sarahdna villagein Khanpur tehsil have criticised a gas exploration company over what they called its failure to fulfil conditions incorporated in the memorandum of understanding(MoU) at the time of land acquisition. They warned that they would stage protests if their demands were not met in two weeks. Located on the eastern bank of Khanpur reservoir at a distance of around 60km from the district headquarters, the Sarahdna village was selected for oil and gas exploration before the MOL Pakistan Oil and Gas Co BV began…

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