Category: Recent Post

When one suffers from a grand calamity, a possible way of rationalizing subsequent travails is by resorting to a search for reason in the mire of seeming chaos. With the current pandemic though, and the continued mysteries that envelop Covid-19, it is quite challenging to understand what the central takeaway is shaping up to be. Nonetheless, one of the tangential lessons that Covid-19 has brought to the fore is from a centuries-old socio-economic phenomenon known as the tragedy of the commons. For centuries, the Grand Banks fishery off the coast…

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The economic value of the recently discovered natural gas reserve in the Black Sea comes to nearly $65 billion, Turkey’s energy and natural resources minister said Friday. Fatih Dönmez’s remarks came after Turkey earlier announced its biggest ever natural gas discovery, a 320 billion cubic meter (bcm) Black Sea field, which President Recep Tayyip Erdoğan said was a part of even bigger reserves and could come onstream as soon as 2023. “Globally, gas prices are oil-indexed. We can say that the economic value of 320 billion cubic meters of natural…

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ISLAMABAD: The Standard & Poor’s (S&P) rating agency on Thursday affirmed Pakistan’s ‘B-’ long-term and ‘B’ short-term sovereign rating while maintaining ‘stable’ long-term outlook. The New York-based rating agency also affirmed ‘B-’ long-term issue rating on Pakistan’s senior unsecured debt and sukuk trust certificates. It said the country’s rating remains constrained by a narrow tax base and domestic and external security risks, which continue to be high. Although the country’s security situation has gradually improved over the recent years, ongoing vulnerabilities weaken the government’s effectiveness and weigh on the business…

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SITE Association of Industry President Suleman Chawla on Friday expressed deep concern over low gas pressure in SITE area of Karachi and urged Sui Southern Gas Company (SSGC) to immediately restore gas to the industrial sector with required pressure; otherwise, production will come to a complete halt. In a statement, he mentioned that for the last three days, industrialists were facing severe low gas pressure due to which production was badly affected, especially for the exporters. Chawla added that industries were already fighting with the Covid-19 pandemic for the last…

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ISLAMABAD: The government has formed a committee to take policy decision in consultation with liquefied natural gas (LNG) terminal developers for utilising idle capacity of the terminal operators. The Pakistan Tehreek-e-Insaf (PTI) government had approved utilisation of the idle capacity of the existing LNG terminals by private parties in July 2019 but not a single ship could be brought by the private sector due to monopoly of state-run companies. The private sector has been eager to import LNG for its consumption but has not been able to do so due…

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