Category: Shortcode

The Chinese government has reportedly urged Islamabad to review IPPs committee report prepared during Imran Khan’s tenure as they have come under much criticism, well-informed sources told Business Recorder. Beijing’s concerns were recently conveyed by the Chinese ambassador to Pakistan, Nong Rong at a recent meeting with Prime Minister Shehbaz Sharif. According to IPPs report prepared by Muhammad Ali Committee, also comprising representatives of a key intelligence agency, excess setup cost of Rs. 32.46 billion was allowed to the two coal-based plants due to misrepresentation by sponsors regarding Interest During…

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The energy crisis that began last year in Europe and dramatically escalated following the EU response to Russia’s invasion of Ukraine has seen many in government worry about the survival of the continent during the winter. Yet not all see such a bleak picture. In fact, some believe that not only is the worst over for Europe but that the crisis actually did the EU a favor. That favor took the form of accelerating the buildout in renewables and the restart of hydrocarbon-fueled power plants. This take, which is certainly…

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Commerce Ministry has decided to hold a detailed meeting with State Bank of Pakistan (SBP) to sort issues related to release of import consignments stuck at ports, as importers are bearing heavy demurrages, and foreign exchange is being pocketed by foreign shipping lines. Briefing Senate Standing Committee on Commerce on Wednesday, Commerce Ministry shared the following reasons for containers stuck at parts: (i) restrictions imposed by SBP on opening of L/C and issuance of EIF, etc., for release of import consignments. However, SBP has gradually allowed opening of L/Cs, etc.,…

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Ambassador of Federal Republic of Germany Alfred Grannas, while referring to the energy crises being faced by Pakistan, has stated that Pakistan can become the “next Saudi Arabia” not in terms of oil but in terms of ‘green energy’ as the country has huge potential for producing substantial quantities of ‘green hydrogen’ which can even be exported to Germany. “We are producing some of it but not enough, so the green hydrogen is an area where there is a huge potential for exports to Germany. German companies are interested in…

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Oil and Gas Regulatory Authority (OGRA) would hold a walk in Murree on Saturday (December 17) to create awareness among public about safe usage of natural gas and Liquefied Petroleum Gas (LPG) cylinders especially during the peak winter season to avoid untoward incidents. The awareness-walk would be organized at GPO Mall Road, Murree at 11:30 a.m. People from all walks of life including representatives of OGRA license-holders and other departments concerned have been invited to participate and educate general public/stakeholders to ensure safety ‘as first priority’ to save precious lives and property. OGRA spokesman Imran Ghaznavi viewed natural gas and LPG cylinders were used in winter for heating…

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