On June 20, after multiple rounds of talks failed to produce a deal, crisis-hit Pakistan officially sought Washington’s help to get favorable treatment from the International Monetary Fund for a bailout from the country’s disastrous fiscal situation – at a potential price of tilting away from its relationship with China. The request to the IMF came against the backdrop of…
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Global energy investment is on the rise and expected to grow by 8 percent annually this year, pushed up by record spending on clean energy, the International Energy Agency (IEA) said in its new report World Energy Investment 2022. On the face of it, that’s great news for global energy supply and climate goals. But in reality, the rising trend…
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Amid widespread electricity shortages, Pakistan failed to find a bidder for three LNG slots and received the highest-ever rate for another slot for the last week of July as European customers lap up spot market quantities to compensate for Russian supply disruption. State-run Pakistan LNG Ltd (PLL) floated a tender on June 16 for four cargos — one each in…
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| Shehbaz Sharif tells senators PTI govt violated agreement with IMF | Says conditions for deal with IMF finalisedbut ‘positive results will take some time’ | Directs FIA to investigate poor quality of work on Murree Expressway| Stresses use of modern technology in mining sector ISLAMABAD – Prime Minister Shehbaz Sharif said Thursday that the coalition government is committed to…
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Prime Minister Shahbaz Sharif has directed the task force on KE headed by former Prime Minister Shahid Khaqan Abbasi to resolve all outstanding issues of KE within three months, aimed at giving green signal for sale of over 66 percent shares of KES Power to Chinese firm M/s Shanghai Electric Power, well-informed sources told Business Recorder. A high-level delegation of KE…
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Pakistan and Saudi Arabia have renewed their commitment to bolster economic ties in diverse fields including construction, agriculture, livestock and social sector. This commitment to strengthen economic relations was reiterated in an exclusive meeting organized by the Punjab Board of Investment and Trade in the honour of a high-profile Saudi Business Delegation visiting Punjab. The Saudi Business Delegation was led…
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Shabbir Mansha, acting president FPCCI, has said that the interest rate of 13.75 percent will not let the economy to grow and the prices of electricity and gas have already made us uncompetitive as far as the exports are concerned. Additionally, there are rumors that interest rate may be further raised. He added that the government should also consult with…
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The Ministry of Economic Affairs said on Thursday that 43 per cent of about $35 billion worth of foreign-funded projects were problematic — either not progressing well or unable to deliver the desired outcomes. At a review meeting of the National Coordination Committee on foreign-funded projects, the ministry reported that it was managing an ongoing portfolio of $34.8bn such projects…
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Russian Consul General Andrey Viktorovich Fedrov has stated that he wasn’t aware of any oil deal between Russia and Pakistan. However, he said that Pakistan and Russia were currently experiencing friendly bilateral ties and Kremlin considers Islamabad a ‘friendly’ country. In an interview, the Russian consul general also expressed his desire to establish trade and economic cooperation with between Russia…
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Paris, (APP – UrduPoint / Pakistan Point News – 23rd Jun, 2022 ) :Natural gas has emerged as a weapon of war between Russia and Europe since Moscow and Ukraine stand-off. Here is how the standoff developed: – Nord Stream 2 halted – On February 22, 2022, German Chancellor Olaf Scholz says he is suspending the Nord Stream 2 pipeline…
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