Pakistan Economy: Trapped Between China and US

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On June 20, after multiple rounds of talks failed to produce a deal, crisis-hit Pakistan officially sought Washington’s help to get favorable treatment from the International Monetary Fund for a bailout from the country’s disastrous fiscal situation – at a potential price of tilting away from its relationship with China. The request to the IMF came against the backdrop of…

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Big brands call for global pact to cut plastic production

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International brands including Coca Cola and PepsiCo called on Monday for a global pact to combat plastic pollution that includes cuts in plastic production, a key growth area for the oil industry. World officials will meet at a United Nations Environment Assembly conference (UNEA 5.2) later this year to start negotiations on a treaty to tackle a plastic waste crisis…

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Planning Commission Wants to Ban NHA From New Projects

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Due to delay in execution, slow progress on projects, and cost overrun, the Planning Commission has recommended barring the National Highway Authority (NHA) from submitting new projects and has directed it to bring its business plan as its throw forward has reached Rs. 907 billion. The current pace of approving new projects of the National Highway Authority is not sustainable,…

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CPEC enabled Pakistan to meet energy demand, cut production costs: official

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The China-Pakistan Economic Corridor (CPEC) has not only turned Pakistan into a power surplus country but also cut the production cost of electricity, Khalid Mansoor, special assistant to the prime minister on CPEC Affairs, said. Pakistan needs a lot of power for domestic and industrial consumers, and the nation’s main production technology depends on expensive imported furnace oil, Mansoor told Xinhua in…

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Domestic gas consumers: There will be no supply of LNG on ‘lower’ rates: Hammad

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Federal Energy Minister Hammad Azhar said on Friday that the government would not supply imported Liquefied Natural Gas (LNG) to domestic gas consumers on lower rates. Addressing a news conference, the minister said that 10 to 11 cargos of LNG were tenders to meet the demand, but since the LNG prices had gone up on the international market the imported…

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K-Electric seeks Rs5.5 per unit hike in power tariff

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The K-Electric, the sole power utility in Karachi, on Thursday submitted a request to the National Electric Power Regulatory Authority (Nepra) seeking a hike of Rs5.50 in tariff under fuel adjustment charges. According to the request, the power utility has requested an increase of Rs5.18 for July to September 2021, and rupee 0.32 for November. The national power regulator will…

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Industry’s gas woes

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BONA FIDE textile and clothing exporters have started suffering production losses as the row between the industry and energy ministry over the complete suspension of gas supplies for captive power continues. While the ministry’s action may not leave as extensive an impact on the industry’s overseas shipments during winter as is being maintained by APTMA, it has already compelled many…

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Opposition walks out of NA over gas shortage

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The members of the opposition parties staged a walkout from the House on the first day of the 39th session of the National Assembly in protest against gas shortage across the country and the scheduled extension of six ordinances. The opposition’s walkout forced adjournment of proceedings without execution of any business on Wednesday. PPP parliamentarian Syed Naveed Qamar pointed out…

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Will Renewable Energy Redefine Tech in a Sustainable-Forward Future?

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In the early 1900s, energy professionals began developing electric grids. They accessed an abundant and reliable electricity supply by burning fossil fuels like coal and oil. Thomas Edison delivered pushback on these power sources, suggesting that society obtain energy from natural supplies, like sunshine and wind. Today, fossil fuels are the largest global energy source. As more consumers become aware…

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