The Senate Standing Committee on Maritime Affairs was Friday apprised that 91 percent profit from Gwadar Port operations went to Chinese company whereas Pakistan’s share was only 9 percent, however maintenance/dredging of the port was the responsibility of Pakistan.
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Power Division, sources say, has sought an amount of Rs700bn from Finance Division in federal budget 2023-24 to clear overdue payments of IPPs, CPEC IPPs and equity injection. Pakistan is likely to assure the visiting Chinese Foreign Minister Qin Gang that outstanding payments
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In view of Sindh Chief Minister Engr. Syed Murad Ali Shah’s contributions to the cause of Engineering as a whole and specific to the Infrastructure Development Projects and also his services to the public at large in the province.
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The Ministry of Energy has demanded Rs1.54 trillion in power subsidies for the next fiscal year, a colossal amount that is 70% more than this year’s revised budget, aimed at reducing circular debt to a level agreed with the International Monetary Fund (IMF).
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SECMC owes $60 million in payments to CMEC, a vendor of SECMC for coal mining in Thar Block II. SECMC has been unable to clear the dues since May 2022 due to LC restrictions. Even a letter from Sindh’s Power Minister Imtiaz Sheikh has failed to wake the policymakers on this critical matter, sources familiar with the matter revealed. Sources…
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Government-led reforms and the growth of private investment in new sectors will help support non-oil economic growth in Saudi Arabia amid an expected sharp slowdown in overall growth this year, a senior International Monetary Fund (IMF) official said. The Saudi economy grew 8.7 per cent last year,
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Pakistan’s overall oil sales plunged 47 per cent year-over-year to 1.171 million tonnes in April, while the total sales shrank by 24pc to 13.970m tonnes in the July-April period of FY23.
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Economic Survey of Pakistan is a yearly flagship publication of the Ministry of Finance which highlights the trend of macro-economic indicators, development policies, strategies, as well as sectoral achievements of the economy.
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Pakistan’s oil industry has looked for Rs12/liter edge on high velocity diesel (HSD) and Mogas (petroleum) for oil promoting organizations (OMCs) considering the significant expense of business, which has made monetary difficulties.
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Oil deals plunged an enormous 46 percent in April this monetary contrasted with that very month of the keep going monetary year essentially on financial log jam and pirated Iranian oil based commodities.
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