EU Ambassador Dr Riina KionkaVisits FPCCIGSP+ Status Enabled 108% Export Growth in a Decade

President-FPCCI

Karachi Atif Ikram Sheikh, President FPCCI, has stressed that the 27-country economic alliance of European Union – with a cumulative GDP of almost $20 trillion – can help Pakistan steer out of the chronically dilapidated state of the economy of Pakistan; and, enhancing our exports to the EU nations should be the cornerstone of broader economic relations. Pakistan has achieved…

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Mari Petroleum discovers gas reserves in North Waziristan

Mari-Petroleum

Mari Petroleum Company Limited (MARI), one of the largest producers of natural gas in the country, has discovered gas reserves at Shewa-2 well, located in North Waziristan district Khyber Pakhtunkhwa. The development was shared by the company in its notice to the Pakistan Stock Exchange (PSX) on Thursday. “We are pleased to inform that Mari Petroleum Company Limited (MARI) has…

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PSO wins govt approval to import HSD on behalf of all OMCs

oil-and-gas

KARACHI: Pakistan State Oil (PSO), the country’s largest oil marketing company, has received approval from the government to exclusively import high speed diesel (HSD) to meet the domestic demand, an official document showed. The Petroleum Division of the Ministry of Energy has agreed to PSO’s proposal, made in September last year, to import HSD on behalf of all oil marketing…

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969MW NJ project closed till first week of March

Neelum-Jhelum

ISLAMABAD: The 969 MW Neelum-Jhelum Hydropower project (NJHPP) was closed down on Wednesday night till the first week of March 2024 for inspection of its 3.5-km Tail Race Tunnel and maintenance of turbines. This will aggravate the ongoing electricity load-shedding. However, the period of closure will be revisited after the inspection of the tunnel, a senior official of Wapda told…

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Renewable Energy Capacity Must Triple Before the End of the Decade

Renewable-Energy

Renewable energy output needs to increase three-fold by 2030 to help prevent global warming exceeding 1.5°C, with governments being urged to step up rapid action. The United Arab Emirates’ COP28 presidency, along with two renewable energy organisations, the International Renewable Energy Agency (IRENA) and the Global Renewables Alliance, have released a joint report which revealed capacity for renewable energy has to “reach more than…

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Karachi’s industrialists pin hopes for revival on 2024

Karachi-industrialists

Call for clear industrial policy, prioritising domestic investment over foreign investment KARACHI: Leading industrialists in Sindh have labelled 2023 as lacklustre and troublesome, plagued by energy crises, economic meltdown, strikes, and a lack of government support. Despite these challenges, they maintain an optimistic approach in 2024 and hope for the best. “2023 was tumultuous, with industrialists facing numerous challenges, including…

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Water woes to stay even after dam construction

Bhasha-Dam

ISLAMABAD: Pakistan’s water woes are unlikely to be over even after construction of Diamer Bhasha Dam (DBD) in 2030 as till that time water requirements of agriculture would have increased further due to traditional ways of farming. Background interviews with the water sector experts and officials suggest that the government needs to divert financial resources for development of water reservoirs,…

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