Iran and Pakistan have decided to increase the trade volume between the two countries to $10 billion, Iranian President Ebrahim Raisi said on Monday, adding that the existing volume was “not acceptable”.Raisi — who is currently on a three-day visit to Pakistan — made the remarks during a joint press conference alongside Prime Minister Shehbaz Sharif after the two held…
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Shehbaz Sharif noted that Pakistan was among one of the most climate-vulnerable countries ISLAMABAD: Pakistan, along with nations worldwide, observed International Earth Day on Monday, focusing on the theme ‘Planet vs Plastics’ to raise awareness about plastic usage, its environmental impacts, and the imperative to reduce dependency, aiming for a plastic-free Earth.Prime Minister Shehbaz Sharif, in his message on the…
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ISLAMABAD: Strongly opposing the petroleum pricing deregulation model suggested by the Oil and Gas Regulatory Authority (Ogra), the oil refineries have started shutting down their refining units due to storage constraints caused by declining sales of domestic products and the rising influx of smuggled products throughout the country.“Why would oil marketing companies (OMCs) lift oil product from refineries, involving a…
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WASHINGTON: The Executive Board of the International Monetary Fund (IMF) will meet on April 29 to finalise its last review of Pakistan’s $3 billion Stand-By Arrangement (SBA).“According to the IMF’s event calendar, the review meeting is set for 10:00am on April 29,” a diplomatic source informed Dawn.Earlier this week, the Fund published a schedule of the Executive Board’s meetings on its…
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By Web Desk KARACHI: Shanghai Electric has taken back its offer to purchase up to 66.4 per cent stake in the K-Electric, the Pakistan Stock Exchange was informed on Monday.The deal between the K-Electric and Shanghai Electric company was repeatedly delayed for last eight years due to regulatory approvals and liquidity constraints, sources said.The deadline for making a firm offer…
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Amidst stringent security measures, Iranian President Dr. Ebrahim Raisi has embarked on a significant two-day official visit to Pakistan, marking the first such visit by a head of state post the February 8 general elections. His arrival comes at a pivotal moment characterized by escalating tensions in the Middle East and Pakistan’s efforts to complete the Iran-Pakistan gas pipeline, which…
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The Ministry of Climate Change and Environmental Coordination (MoCC&EC) is set to embark on a collaborative effort with stakeholders to address the critical issue of sustainable nitrogen management in South Asia. Recognizing the dual importance of nitrogen in agriculture and its potential environmental repercussions, the ministry aims to develop a comprehensive South Asia Roadmap for Sustainable Nitrogen Management. Nitrogen, while…
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In the village of Sorech, nestled within Upper Chitral district, the commissioning of a 500-kilowatt hydropower station has sparked a transformative shift in local life. Residents, including Mohammad Nadir, Abdul Nasir, Iqbal Murad, and Musa Khan, joyously shared with reporters that since the station’s inauguration three years ago, not a single tree has been felled for cooking or heating purposes.…
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Abu Dhabi, UAE: Today, the Utilities for Net Zero Alliance (UNEZA) unveiled a bold initiative at the 14th Assembly of the International Renewable Energy Agency (IRENA), aiming to significantly scale up renewable energy capacity. The alliance, comprising leading global utilities, announced their joint intent to increase renewable energy capacity within their portfolios to 749 GW by 2030, marking a substantial…
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Mari Petroleum Company Limited (MPCL) has announced a significant oil discovery at the Shawal-1 Well, located in the Mari Development & Production Lease (Mari D&PL) in Sindh Province. MPCL, operating with 100% working interest, successfully drilled the well to a depth of 1,136 meters into the Ghazij Formation. During testing, the Shawal-1 Well yielded 1,040 Barrels of ~30 deg API…
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