The federal government has decided to review all local and international energy agreements to reduce the adverse effects of coronavirus on the country’s economy and to pass on the relief to the common man. This was decided during a federal cabinet meeting with Prime Minister Imran Khan heading it.
During the meeting, PM Khan said that the crippling situation of the economy due to the novel virus should not impact the poor segments of the society. He directed the finance minister to take necessary steps in this regard.
Energy Accords to Be Revised Special Assistant to the PM on Information and Broadcast, Dr. Firdous Ashiq Awan, briefed media regarding the cabinet decisions.
Dr. Awan said that the meeting agreed to review all accords in the energy sector, including the ones with Independent Power Projects (IPPs) and Liquefied Natural Gas (LNG).
The cabinet was apprised that when the previous government signed these agreements, the value of the US dollar was around 60 Pakistani rupees..
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Facebook is Giving $1000 to Employees to Support Them Amidst the Epidemic
Facebook announced a work from home policy for all of its employees a few days ago and now they’re also planning to give out a $1000 bonus to every worker to help them amidst the epidemic.
The decision was reportedly announced by founder and CEO Mark Zuckerberg through an internal memo on Tuesday. Facebook later explained the details saying that all of the bonuses will be distributed throughout April.
The social media giant has around 45,000 full-time employees across the globe and each of them will also receive an “exceeds” rating based on their first six-month review for 2020. This will lead to bigger bonuses for employees that will further help them during the outbreak.
Some of the full-time workers at Facebook have also taken over the work from contractors so they can stay at home. Facebook is also paying these contractors while they stay at home.
Additionally, the company is also offering $100m to smaller businesses to help them cope with the economic impact of the pandemic. T..
Shoaib Akhtar Lashes Out at Peshawar Zalmi Owner For His Coronavirus Remarks
Former Pakistan cricketer, Shoaib Akhtar has criticized Javed Afridi’s statement regarding the continuation of the Pakistan Super League amid coronavirus scare.
Peshawar Zalmi’s owner had earlier said that it was only a matter of 48 hours if the PCB wanted to complete the remaining matches. The semi-finals were scheduled for Tuesday with the final slated for Wednesday 18th March as per the revised schedule.
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Here’s what Javed Afridi said:
I back the decision to postpone the league but on a personal note I was in favour of holding the remaining matches as well. While we were discussing this issue in meeting with other PSL franchises and PCB, I raised the point that it is just a matter of 48 hours, so let the PSL conclude in a better way.
Shoaib Akhtar didn’t approve of Afridi’s suggestion, saying it would have put a large number of people at risk.
One of the team owners is still saying that these remaining ..
Crude Oil Prices Drop to Lowest Levels Since 2003
Oil extended its slide to the lowest level in almost 17 years as the coronavirus pandemic threatens to bring the global economy to a standstill, battering demand just as supply explodes.
Oil prices fell for a third session on Wednesday to be down about more than 17% so far this week as the outlook for fuel demand darkened amid travel and lockdowns triggered by the coronavirus epidemic.
WTI Crude oil was down $1.37 or 4.79%, at $25.96 a barrel. Whereas Brent crude was trading down 85 cents, or 2.92%, at $27.89 a barrel.
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The coronavirus crisis is weighing on prospects for demand as people refrain from flying or driving amid lockdowns and border closures.
A drop in U.S. inventories of crude, gasoline and distillates, as reported by an industry group, provided some support to prices, but the demand outlook remains grim amid a price war among major producers.
Moreover, Saudi Arabia and Russia are engaged..
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