Category: Recent Post

Having soared to an all time high as recently as one week ago, Chinese coal futures have lost nearly half of their value in the past seven days in a sequence of limit down days as Beijing unleashed its latest crackdown on a commodity it felt was mispriced despite urging energy firms to “secure supplies at any price” less than a month ago. There is, of course a perfectly simple, non-market driven reason for the plunge in prices: China ruthless authoritarians revealed a plan to impose limits on the price miners…

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Sindh chief Minister Syed Murad Ali Shah has said that Manora Waterfront Beach is one of the beautiful recreational places his government has developed to provide a safe, secure, neat and clean family recreational place for the people of this city.“We are planning to develop a Jetty at Seaview to start ferry service from the Clifton area to Manora beach.”  This he said while speaking at the inauguration ceremony of Rs650 million project of Improvement of Water Front Development at Manora Beach, Karachi at Manora. The inauguration ceremony was attended by…

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The powers of Chairman, National Electric Power Regulatory Authority (Nepra), Tauseef H Farooqi have been restored in just four days after two members of the authority bowed down before “external” pressure, well-informed sources told Business Recorder. According to a new notification issued on Friday, “with immediate effect, the majority members of the Authority have recalled the notification No. MON-01/2021/4141 of October 25, 2021 and the following departments shall report to the Chairman Nepra till further orders of the Authority; (i) Registrar and Coordination & Implemen-tation Departments; (ii) Administration & Human…

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The Ministry of Finance on Thursday conceded that Pakistan’s inflation rate was mainly driven by monetary and supply-side factors such as domestic and international commodity prices, depreciating rupee-dollar exchange rate, seasonal factors and economic agents expectations. The Ministry of Finance stated that the recent surge in international oil prices, exchange rate depreciation and adjustments in administered prices are fueling price hikes. “The effect of these impulses may intensify the magnitude of prices and transportation cost,” the Ministry of Finance warned in its monthly economic report released here on Thursday. Dwelling…

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Qasim Terminal Holding, a subsidiary of Qatar Energy, plans to acquire a stake in Energas Terminal Pvt, Bloomberg reported on Thursday. Energas’ terminal will be the country’s largest LNG terminal with a capacity to import one billion cubic feet of gas/year. Pakistan currently operates two LNG terminals, while Energas and Japan’s Mitsubishi Corp. are vying to build two more projects. Engro set up Pakistan’s first LNG terminal at Port Qasim, which has been handling LNG imports from Qatar since 2015. Qatar Petroleum is going to enter into partnership in setting up another…

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