Pakistan Finance Minister Miftah Ismail said the government was committed to reviving the International Monetary Fund program and putting the country back on a “sustainable growth path” after talks with the multilateral lender ended inconclusively the previous day. There’s now a prospect of a default for the second time in Pakistan’s history even though the IMF said there was “considerable…
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In its bid to address the energy crisis, the government is considering signing a liquefied natural gas (LNG) purchase agreement with different countries including Russia. The government “will go for the most favourable deal,” the Ministry of Energy said in a statement, reported Bloomberg. The South Asian country is considering a government-to-government agreement to import LNG, added the report. The…
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A federal government adviser said on Tuesday Pakistan had directed authorities in the southwestern Balochistan province as well as the power division of the country to initiate talks with Iran on the purchase of an additional 100 megawatts of electricity to fulfill the daily power needs of Gwadar, a port city at the center of the $65 billion China-Pakistan Economic…
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Islamabad (Bloomberg): Pakistan has indicated it is considering signing a liquefied natural gas purchase agreement with several nations, including Russia, to ensure supply and alleviate a severe shortfall. The government “will pursue the most advantageous contract,” according to a statement released by the Ministry of Energy to Bloomberg News. According to the statement, Pakistan is considering a government-to-government contract for…
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The International Monetary Fund (IMF) on Wednesday emphasised upon Pakistan the urgency of “removing fuel and energy subsidies” to achieve programme objectives. Finance Minister Miftah Ismail had earlier this week said he would convey to the IMF that fuel and energy subsidies — which were introduced by the previous PTI government — could not be reversed as the “nation cannot…
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Misal Khan, (83), who was busy like a honeybee while threshing his wheat crop at his fields under the blistering sun in his native village, suddenly collapsed after feeling dizziness apparently due to heatstroke. Being a resident of Dheri Ishaq in Nowshera district, Khan’s sons, who were also around and busy in work along with their father rushed to a…
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In the midst of rapidly bleeding economy and rising uncertainty on account of PTI Long March, the state owned Pakistan State Oil (PSO) has virtually landed in hot water with its circular debt skyrocketing to a whopping Rs939.838 billion, just over Rs60 billion short of Rs1 trillion mark. The receivables of PSO have jacked up to Rs591.665 billion with payables…
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Cnergyico Pk Limited has received an award from the Employers` Federation of Pakistan (EFP) for securing the first position in the 16th Occupational Safety, Health & Wellbeing Award in the oil refinery sector. The award was presented by the President Dr. Arif Alvi and was received by Cnergyico’s Vice President for Information Azfar Saeed Baig during the prestigious OSHW Conference…
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The world needs more and more energy but natural energy sources are dwindling, therefore Pakistan is coming up with new ways to meet its growing needs – via free wind and sun! Pakistan is planning to generate 10,000 megawatts of alternative renewable energy (ARE) by 2030 with an investment of over $6 billion, for which bidding will take place later…
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The International Monetary Fund (IMF) Wednesday delayed the revival of the stalled $6-billion programme for Pakistan. The global lender said that there have been deviations from the policies agreed in the last review, partly reflecting the fuel and power subsidies announced by the government in February In a press release issued after the completion of ongoing talks in Doha, the…
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