Federal Minister for Petroleum Dr. Musadik Malik and Federal Minister for Power Awais Leghari recently met with Martin Raiser, South Asia Regional Vice President of the World Bank, to discuss ongoing reforms and support in the energy sector, as per a press release. During the meeting, both sides exchanged ideas on the reform agenda and highlighted the technical assistance provided…
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A delegation from Saudi Arabian mining company Manara Minerals is currently in Islamabad for ongoing discussions regarding acquiring a stake in Pakistan’s Reko Diq gold and copper mine, according to a Pakistan government document. The Reko Diq mine, located in Balochistan province, is recognized as one of the largest underdeveloped copper-gold areas globally, jointly owned by global mining company Barrick…
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The gas supply crisis in Karachi is impacting every segment of society, including the city’s diplomatic community. Iran’s Consul General in Karachi, Hassan Nourian, recently shared his experiences of facing gas challenges, highlighting the difficulty of cooking meals on some nights. Nourian discussed the energy needs of Pakistan and the long-delayed gas pipeline project between Iran and Pakistan during the…
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The Power Division has urgently requested the disbursement of approximately Rs130 billion to cover subsidy payments for K-Electric and Azad Jammu & Kashmir (AJK). This request, along with other supplementary grants from various ministries, is set for approval by the Economic Coordination Committee (ECC) of the Cabinet, to be chaired by Finance Minister Muhammad Aurangzeb. The Power Division’s foremost request…
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The Pakistan Business Council (PBC) has directed the Special Investment Facilitation Council (SIFC) to prioritize the transformation of Pakistan’s investment climate, especially to attract foreign direct investment (FDI). In a letter, Ehsan Malik, CEO of PBC, urged SIFC to address fragmentation within key ministries and promote long-term policy predictability. Malik emphasized the importance of learning from existing investors’ experiences, highlighting…
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In a significant development, Engro Corporation Ltd (Engro Corp) and Dawood Hercules Corporation Ltd (DH Corp) have given initial approval to a restructuring plan aimed at optimizing investment opportunities within the enterprise. The proposal, subject to final board and shareholder approvals, has been formally communicated to the PSX on Monday. This strategic restructuring aims to synergize investment efforts between Engro…
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