Category: Shortcode

Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said on Tuesday some countries were using their emergency stocks to manipulate markets when their purpose should be to mitigate any shortages of supply. The comment appeared to be a criticism of U.S. President Joe Biden’s decision to sell oil from the nation’s emergency oil reserve as he tries to lower gasoline prices ahead of mid-term elections on Nov. 8. “It is my profound duty to make clear to the world that losing (releasing) emergency stocks may be painful in the months…

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Governance weaknesses and problems in Pakistan are direct outcome of prevalent duality in its power structure, run by different de jure as well as de facto entities. This duality bearing on civil and military establishments, in non-compliance with constitutional obligations, has thrown the democratic political system out of equilibrium. This aspect of the political system, along with several others, was discussed in the Grand National Dialogue on Pakistan’s political system and governance, organised jointly by the Institute of Policy Studies (IPS), Islamabad, and the Islamabad Policy Research Institute (IPRI). The…

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Officials from the Asian Development Bank (ADB) said on Monday that its $1.5-billion Building Resilience with Active Countercyclical Expenditures (BRACE) programme will provide timely liquidity to Pakistan and help mitigate the immediate impact of exogenous shocks. In a meeting with Prime Minister Shehbaz Sharif, they said that the funding will also allow the government to roll out its relief and recovery package to the flood victims. “This will increase social protection, enhance food security and aid in employment of flood-affected people,” they said. “It will also provide critical support to…

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National Iranian Gas Company (NIGC) has reached new agreements with Turkey’s state-owned BOTAS Petroleum Pipeline Corporation on gas exports to the neighboring country, a senior official with NIGC announced on Sunday. National Iranian Gas Company Dispatching Director Mohammadreza Jolaei said that some expert-level meetings have been held between the two sides and new agreements have been reached. According to Jolaei, with the agreements and coordination made between Iranian and Turkish gas officials, all technical, operational and executive measures for exporting Iranian gas to neighboring Turkey will be finalized within the…

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Pakistan offers a world of opportunities due to its geostrategic location, agricultural potential, and wealth of minerals and natural resources. Moreover, it has a burgeoning young population which is almost 60% of the total population and offers a highly potent resource. Why do we then find ourselves in this continually rising debt situation with exports on diminishing lines and imports burdening the back of the country to a breaking point? Pakistan today stands at 108th position among 190 countries as an undesirable destination of an unfavorable investment zone. Pakistan’s economy…

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