The benefits of free trade are based on the classic comparative advantage trade theory, as originally espoused by the English economist David Ricardo in the early 19th century. Consumers, producers and economic growth all benefit on average from free trade. The winners from free trade outweigh the losers. Without making interpersonal comparisons, the logic of other economists was that the loser
Former caretaker commerce minister Dr Gohar Ejaz has raised concerns about the steep rise in electricity bills, questioning how the cost per unit has reached as high as Rs80 when the production cost in July was only Rs9 per unit. In a tweet, Dr Ejaz pointed out that in July, the total average electricity generation was 20,000 megawatts, with 35% of this, or 7,000 megawatts, generated from hydro
A smart person learns from the mistakes of others, while the simpleton only learns by committing those same mistakes firsthand. Or so the saying in Urdu goes. But, there is also a lot that never learns, just like the people running Pakistan who relish repeating the same set of self-destruction without ever grasping the consequences. In case you were wondering, I was talking about Pakistan’s
THE time for tokenism has long gone. Unless the current government gets serious about introducing and implementing a long-term sustainability plan, the financial pain the nation is being made to suffer now will yield few positive outcomes for the future. Under pressure to curtail its expenditures, the government is reportedly mulling various measures to ‘right-size’ its footprint. The proposals
Artificial intelligence (AI) has a significant role in the renewable energy industry, and it can involve various power transformation stages, starting from renewable energy forecasting, monitoring and controlling of smart grids, and up to the security of nuclear power stations. AI has advanced features that can monitor the sustainable operation of the renewable sector and guide it toward a safe