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Lahore: 22 Sept— An increase of Rs 2.07 per unit in tariffs for Electricity Distribution Companies (Discos) of August 2021 has been sought by Central Power Purchasing Agency-Guaranteed (CPPA-G)under monthly FCA mechanism.CCPA-G data says that total cost of energy was Rs 103 billion. CPPA-G also sought previous adjustment/supplemental charges of Rs 3.283 billion against use of power of 7.48 GWh.According to CPPA-G total energy generated recorded at 15,679.72 GWh, at a basket price of Rs 6.4653 per unit.The sale to IPPs was reduced by 15.82 GWh, the price of which was Rs 279 million while the reduction in transmission losses was recorded at 476.63 GWh, cost of which is Re 0.20 per unit.National Electric Power Regulatory Authority (Nepra) w...

September 22, 2021 at 11:03 am | Economic Affairs

September 22,2021New York (Press Release)Foreign Minister Makhdoom Shah Mahmood Qureshi met Foreign Minister Augusto Santos Silva of Portugal in New York on the margins of the 76th session of the United Nations General Assembly. Views were exchanged on bilateral, regional and international developments as well as on cooperation between the two countries at the UN. The Foreign Minister underscored Pakistan’s desire to further strengthen its engagement with Portugal, especially in economic and trade spheres. The Foreign Minister expressed satisfaction at the Parliamentary Friendship Groups that have been established in the respective Parliaments and called for the need to fully activate them for enhanced cooperation and people-to-...

September 22, 2021 at 10:01 am | Economic Affairs

September 22,2021Vienna (Press Release)Pakistan and Nigeria held a bilateral meeting yesterday on the sidelines of the 65th General Conference of the International Atomic Energy Agency (IAEA), currently taking place in Vienna. Pakistan’s delegation was led by Chairman of the Pakistan Atomic Energy Commission (PAEC) Muhammad Naeem. The Nigerian side was led by Ambassador Suleiman Dauda Umar, Nigeria’s Permanent Representative in Vienna. Pakistan’s Permanent Representative to International Organizations in Vienna, Ambassador Aftab Ahmad Khokher, also participated in the meeting. Pakistan and Nigeria have ongoing collaboration within the framework of an MoU on nuclear regulatory functions and many Nigerian experts have undergon...

September 22, 2021 at 9:59 am | Economic Affairs

September 22,2021Vienna (Press Release)Pakistan and Azerbaijan held a bilateral meeting yesterday on the sidelines of the 65th General Conference of the International Atomic Energy Agency (IAEA), currently taking place in Vienna. While the Pakistan delegation was led by Chairman of the Pakistan Atomic Energy Commission (PAEC) Mr. Muhammad Naeem, the Azerbaijani side was led by Deputy Minister Mr. Faig Taghi-Zada.Pakistan’s Permanent Representative to International Organizations in Vienna, Ambassador Aftab Ahmad Khokher, also participated in the meeting. Pakistan and Azerbaijan have ongoing collaboration under the IAEA auspices whereby Pakistani varieties of cotton, developed through nuclear techniques to be disease and weather resi...

September 22, 2021 at 9:56 am | Economic Affairs

Islamabad : 22 Sep.—: Pakistan has been found top among 10 countries in the world where internet freedom has been on the decline and raised concerns over the rules proposed by the country that could further damage cyber liberty, an international freedom advocacy group and research organisation says.Expressing concerns over the proposed regulation in the country, its latest report, “Freedom on the Net 2021: The Global Drive to Control Big Tech”, the Washington-based Freedom House came up with details of cyber freedom in different countries around the world and ranked Pakistan seventh among “abusers of internet freedom”.The report also found Pakistan among 24 countries which have initiated measures governing how platforms treat con...

September 22, 2021 at 9:48 am | Economic Affairs

September 22,2021Vienna (Press Release)Pakistan and Belarus held a bilateral meeting yesterday on the sidelines of the 65th General Conference of the International Atomic Energy Agency (IAEA), currently taking place in Vienna. Chairman of the Pakistan Atomic Energy Commission (PAEC) Mr. Muhammad Naeem led the Pakistani delegation. The Belarus side was led by Belarusian Minister for Energy Mr. Victor Karankevich. Pakistan’s Permanent Representative to International Organizations in Vienna, Ambassador Aftab Ahmad Khokher, also participated in the meeting. The objective of the meeting was to explore possibilites of collaboration between the two countries in the peaceful uses of nuclear energy in the areas of health, agriculture and in...

September 22, 2021 at 9:43 am | Economic Affairs

September 21, 2021New York ( Press Release)U.S. Special Representative for Afghanistan Reconciliation Ambassador Zalmay Khalilzad called on Foreign Minister Shah Mahmood Qureshi in New York today. They discussed the latest developments in Afghanistan and the continued need for an inclusive political settlement in Afghanistan. The Foreign Minister reiterated Pakistan’s support for a broad based and stable government in Afghanistan, which can be a credible development and security partner for the international community. He expressed concern about the deteriorating humanitarian situation in Afghanistan and hoped that international community would support the Afghan people in order to prevent further instability in the region. The For...

September 22, 2021 at 9:40 am | Economic Affairs

AgenciesPARIS, 22 Sep : OECD warned of an “uneven” global economic recovery as it lowered its 2021 growth forecasts for the world and the United States while raising the outlook for Europe.The world economy has bounced back this year on the back of stimulus measures, the rollout of effective Covid vaccines and the resumption of many economic activities, the Organisation for Economic Co-operation and Development (OECD) said.But the Paris-based organisation voiced concerns about lower vaccination rates in poorer countries.“The recovery remains very uneven, with strikingly different outcomes across countries,” the OECD said in its interim economic outlook.Global gross domestic product has surpassed its pre-pandemic level following las...

September 22, 2021 at 9:37 am | Economic Affairs

MANILA: 22 Sep.— Asian Development Bank lowered its 2021 economic growth outlook for developing Asia, amid continuing concerns over the coronavirus disease (COVID-19) pandemic.However, ADB said recovery was underway in "developing Asia", referring to the bank's 46 members, including China and India, but growth was revised down to 7.2% from 7.3% projected in its Asian Development Outlook (ADO) report released in April.The bloc's combined economy was projected to expand 5.4% next year, compared with the April forecast of 5.3%."Asia and the Pacific's recovery from the COVID-19 pandemic continues, although the path remains precarious amid renewed outbreaks, new virus variants, and an uneven vaccine rollout," ADB Chief Economist Yasuyuki Sawa...

September 22, 2021 at 9:33 am | Economic Affairs

Islamabad, the September 21st, 2021: +Press Release) The Speaker National Assembly Mr. Asad Qaiser underlined the need for strengthening tobacco regulatory and taxation regime to ensure decent profitability for the farmers as well as progressive increase in government’s revenue from tobacco industry. He stated that information asymmetries, regulatory capture and inefficient taxation regime has stoked fears about collapse of tobacco market for the poor farmers, exorbitant profits for tobacco industry without commensurate increase in government’s revenue from cigarettes industry, and rampant tobacco consumption in Pakistan. It was also outlined that upward revision of taxes levied on cigarettes was the only route to discourage smoking an...

September 21, 2021 at 11:10 pm | Economic Affairs