Category: Shortcode

Pakhtunkhwa Energy Development Organization (PEDO) and Pakistan Engineering Council (PEC) have signed an agreement to start an internship program for fresh graduate engineers, said a press release issued here on Sunday. Under the agreement, PEC registered newly qualified engineers will be given one year training in PEDO and pay Rs.30,000 per month a stipend jointly. The main objective of the program is to eliminate unemployment in the skilled class and to introduce skilled and trained engineers in the development process, which will usher in a new era of development in…

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The government is likely to allow Pakistan LNG Limited (PLL) to sign pact with Azerbaijani company M/s SOCAR/ SOCAR Trading for import of one LNG cargo monthly, sources close to Minister of State for Petroleum and Natural Resources told Business Recorder. Pakistan State Oil (PSO) and Pakistan LNG Limited (PLL) are importing Liquefied Natural Gas (LNG) under long-term LNG supply contracts to minimise gas demand supply gap under three pacts. The first long-term agreement had been signed by PSO with Qatar Gas in 2015 at 13.37 per cent of price (slope…

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The timeline of the initiation of work on gold and copper mines in Reko Diq in Balochistan’s Chagi district has yet to be announced. But with the Supreme Court clearance and adoption of the relevant resolutions in Sindh and Balochistan and the ratification of the deal by the federal cabinet and Senate, all roadblocks in making the deal operational have been removed. Both Sindh and Balochistan assemblies invoked Article 144 of the Constitution. Under Article 147, the provinces surrendered their rights to regulate the mineral resources in favour of the federal government. This…

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In the absence of any systemic or meticulous approach to tackling deep-seated woes, the overall economic outlook appears to be blurred or bleak. But the firefighting mode is helping to superficially ease pressures on the external sector, possibly for a brief spell, while curbing domestic demand of imported goods/services amidst sliding GDP growth. However, the risk of foreign debt default is still a hot topic in the national discourse, with falling forex reserves and the dollar gaining value against the rupee. Initiatives such as diversifying sources of raising domestic finances…

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DUBAI, Qatar posted a budget surplus of 30 billion riyals ($8.19 billion) for the third quarter of 2022, boosted by rocketing oil and gas revenues, the state news agency said on Tuesday, citing data from the finance ministry. The surplus in the same period in 2021 stood at 900 million riyals. Government figures showed that spending in the third quarter of 2022 stood at 51.8 billion riyals. Total revenues in Q3 amounted to 81.8 billion riyals, of which over 93%, or 76.3 billion riyals, came from oil and gas, the…

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