Cement consumption declined amid COVID-19
Due to COVID-19, a consecutive three-month gradual decrease in cement has been noted. Figures depict a decline of 38 per cent with capital cost of 2.27 million to 3.64 million. The delay in implementing public sector development projects, is mainly due to Ramazan, the pandemic and Eid holidays has slowed down the construction activities. Â During […]
Finance ministry asked to support industry affected by lockdown
The finance ministry has been directed by Prime Minister Imran Khan to support the industrial sector which has been greatly affected by the lockdown amid COVID-19. Presiding over a meeting on the budget for 2020-21, the prime minister said that boosting of the industrial sector and provision of maximum relief to traders’ community was the […]
ECC forms committee to implement oil price hedging plan
The meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Adviser Dr Abdul Hafeez Shaikh has constituted an inter-ministerial committee for the selection of an appropriate strike price for about nine per cent of oil imports (about 15 million barrels). Special Assistant to Prime Minister for Petroleum Nadeem Babar will […]
Pakistan steel mills to be privatized
Employees to receive golden handshake worth 2.3 Million each Minister for Industries and Production Hammad Azhar has announced that the government of Pakistan has decided to privatize the Pakistan steel Mills in to help in its revival and minimize the losses. Azhar further clarified that the government is going towards public-private partnership for restoration of […]
Weather surveillance radar to be installed at Sukkur
The Central Development Working Party (CDWP) has approved different projects related to energy and environmental sector in a meeting held in the first week of June. After much deliberation the project for Installation of Weather Surveillance Radar at Sukkur in the Islamic Republic of Pakistan was approved at the cost of Rs2,522 million. Deputy Chairman […]
Furnace oil shortfall creating problem for K-Electric
Ease in lockdown has costed a huge power demand that has created a hike in oil shortage for K-Electric. As temperature rose in Karachi, a usage of up to 3200 MW has been noted that is a challenge for K-Electric. To fulfil demand, generation aptitude has been transferred at furnace oil generating 1250 MW from […]