Pakistan is considering different options for arranging foreign exchange from global creditors to ease the burden on country’s foreign currency reserves and kick off work on the $2.5 billion Pakistan Stream Gas Pipeline (PSGP) project. A meeting of the Cabinet Committee on Energy (CCOE) was held under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar…
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Minister Imran Khan on Friday welcomed the $85 million investment through Series B financing — the largest single private funding round in Pakistan’s history — in Airlift, a Lahore-based online shopping delivery service. Series B financing is the second round of funding for a company that has met certain milestones and is past the initial startup stage. “We welcome the…
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The Cabinet Committee on Energy (CCoE) on Friday asked the Petroleum Division to resubmit in its next meeting the draft of the Pakistan Oil Refinery Policy 2021 for approval after detailed deliberation and consensus with the stakeholders. The CCoE headed by the Federal Minister for Planning, Development and Special Initiatives Asad Umar, however, approved Power Division’s proposal seeking elimination of…
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The sponsors of an upcoming new ‘integrated’ liquefied natural gas (LNG) terminals have opposed unlimited capacity enhancement to government-guaranteed existing ‘un-bundled’ LNG terminals, saying such a move would monopolise the market and discourage new investment to set up merchant terminals. In a letter to the Oil & Gas Regulatory Authority (Ogra), Tabeer Energy Pakistan Limited (TEPL) — a 100 per…
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The Cabinet Committee on Energy (CCoE) is likely to approve the long-awaited Pakistan Oil Refining Policy 2021 on Friday (tomorrow) aimed at attracting $ 10-15 billion for setting up a world-scale deep conversion refinery and petrochemical complex and potential investors are seeking incentives/commitments prior to investment decisions. The sources said Petroleum Division had tabled the policy before the Economic Coordination…
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LONDON — Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least liked commodity. Australian thermal coal at Newcastle Port, the benchmark for the vast Asian market, has climbed 106% this year to more than $166 per metric ton, according to the latest weekly assessment by commodity price provider…
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This week the Taliban seized control of Afghanistan for the second time in two decades giving it access to the country’s vast mineral deposits worth trillions of dollars, which are in high demand by countries such as China and essential for the production of electric vehicles amid a global pivot to clean energy. But can this wealth transform the country and help…
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Returning to power in Afghanistan after a 20-year absence, the Taliban have regained control of natural resources that a former mines minister of the country once said could be worth up to $3 trillion. That estimate was made toward the end of the last commodities supercycle in 2010 and could be worth even more now, after a global economic recovery…
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The Pakistan Army has paid tribute to Rashid Minhas — Pakistan Air Force (PAF) pilot officer who embraced martyrdom at the age of 20 during the 1971 war — on his 50th martyrdom anniversary. Minhas was awarded the Nishan-e-Haider for his bravery and became the youngest PAF officer to receive the highest valour award. “On 50th Martyrdom anniversary, we remember…
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My birding friend, Ahmer Ali Rizvi had been working on a documentary on flamingoes and I was excited to contribute content for it however possible. So when we found out from our birder friends that a flock of flamingoes had landed on our coastal belt, near Karachi, it couldn’t have been better timed for us to get more footage. Since…
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