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Month: February 2024

Controversy Surrounds Gabral-Kalam Hydropower Project Bid

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Gabral-Kalam

PESHAWAR: The Khyber Pakhtunkhwa (KP) government has initiated an investigation into alleged manipulation and fraud in the bidding process for the Rs40 billion Gabral Kalam 88MW hydropower project, following complaints received regarding the awarding of the contract. A letter from the KP Energy Department has instructed the Pakhtunkhwa Energy Development Organisation (PEDO) to conduct a thorough investigation, ensuring transparency and…

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Experts Emphasize Challenges and Opportunities in Transitioning from Coal Power in Pakistan

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coal

ISLAMABAD: In a public-private dialogue organized by the Sustainable Development Policy Institute (SDPI) as part of its Clean Energy Transition Programme, experts discussed the need for innovative financing and technological advancements to facilitate a just and clean energy transition in Pakistan. Titled “Beginning of the End: Transitioning away from Coal – Forging an Orderly, Equitable, and Just Energy Transition in…

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Pakistan Aims for $20 Billion Trade with Saudi Arabia

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Saudi-Arabia

ISLAMABAD: Highlighting the need to boost trade, Caretaker Federal Minister for Commerce and Industry, Gohar Ejaz, expressed Pakistan’s ambition to elevate bilateral trade with Saudi Arabia to $20 billion. Addressing the Pakistan-Saudi Business Forum in Riyadh, Ejaz emphasized the intention to enact legislation to foster bilateral investment, as per a press release from the commerce ministry. Ejaz also held discussions…

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Pakistan Set to Seek $6 Billion IMF Loan for Debt Repayment

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IMF-board

ISLAMABAD: Pakistan is gearing up to request a fresh loan of at least $6 billion from the International Monetary Fund (IMF) to assist the incoming government in repaying billions in debt due this year, Bloomberg News reported on Thursday, citing a Pakistani official. The country intends to pursue negotiations for an Extended Fund Facility with the IMF, with talks expected…

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Unlocking Pakistan’s Digital Future: Insights from Telenor Asia’s Digital Lives Decoded Study

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New-Telenor

22nd February 2024 Islamabad: With mobile devices becoming increasingly central to our daily lives, the second-year study of ‘Digital Lives Decoded’ conducted by Telenor Asia determined the key drivers of mobile use: forging healthy social connections, opening new opportunities, a safer online experience, learning and growing with new skills and reducing our impact on the planet.The first Digital Lives Decoded…

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PPIB to Review Progress of Azad Pattan Hydropower Project Tomorrow

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Azad-Pattan

The Private Power Infrastructure Board (PPIB) is set to convene a meeting tomorrow to assess the status of the Azad Pattan Hydropower Project, a 770.7 MW venture located on the River Jhelum, jointly developed by a Chinese company. The project, spearheaded by Azad Pattan Power Pvt Limited (APPL), a subsidiary of China Gezhouba Group, has faced delays, prompting the PPIB…

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Refinery Negotiates Settlement with Govt Over Unpaid Petroleum Levy

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fuel-oil

The Finance Division has initiated discussions with refiner Cnergyico Pk Limited (CPL) to address an outstanding amount of Rs47.5 billion in unpaid petroleum levy (PL) on petroleum products, as revealed by an official document. According to the document, CPL has been in arrears since 2019, resulting in a significant accumulation over the past four and a half financial years. Despite…

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Government Approves RLNG Supply for New Domestic Consumers

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New-RLNG

In a move to address the diminishing local natural gas production, the outgoing caretaker regime has greenlit a policy allowing for the provision of Re-Gasified Liquefied Natural Gas (RLNG) to new domestic consumers and private housing societies. The decision, ratified by the Apex Committee of the Special Investment Facilitation Council (SIFC) in its 9th meeting, aims to tackle the challenge…

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Ministry Identifies Key Economic Risks for Pakistan

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Economic-Risks

In a comprehensive assessment, the Ministry of Finance has pinpointed eight critical fiscal risks posing potential threats to Pakistan’s economy. These risks span macroeconomic imbalances, escalating debt levels, guarantees, climate degradation, State-Owned Enterprises (SOEs) losses, public-private partnership risks, provincial fiscal indiscipline, and governance challenges. Released in the Fiscal Risk Statement (FRS) for 2023-24, the Ministry underscores the volatility in Pakistan’s…

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Govt Revises Gas Priority to Foster Industrial Growth

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gas-prices

Islamabad: In a strategic move aimed at bolstering industrial growth, the caretaker government has overhauled the gas priority order, elevating the process industry to a prominent position alongside domestic consumers. This significant revision entails a reshuffling of sectors, with the fertiliser sector now grouped in the second tier, alongside the power sector, a departure from its previous placement in the…

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