Türkiye to Enhance Naval Presence in Somali Waters for Oil and Gas Exploration

Turkiye-Project

ANKARA: Türkiye is set to strengthen its naval presence in Somali waters, following a recent agreement granting Ankara exclusive rights to explore and produce hydrocarbons in three offshore blocks. President Tayyip Erdogan submitted a motion to the Turkish parliament on Friday, seeking authorization for the deployment of Turkish military forces, including naval support, to Somalia’s territorial waters, according to the…

Read More

Industrialists Call for Reduced Tariffs on IPPs

power-subsidy

LAHORE: Prominent business leaders, under the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), have rejected costly contracts with Independent Power Producers (IPPs) and demanded an independent energy tariff assessment by an international auditing firm of high repute. Terming the current energy tariffs unacceptable and detrimental to the country’s industry, they emphasized the need for revision. “I am ready…

Read More

High Power Tariffs Crippling Pakistan’s Textile Exports

Textile-Project

ISLAMABAD: Amid a decline in textile exports in June, industry leaders have urged the government to renegotiate agreements with Independent Power Producers (IPPs) to rescue the struggling sector. They argue that the exorbitant cost of electricity, driven by capacity charges, is unsustainable. Former caretaker minister for Commerce and Industry, Gohar Ejaz, criticized the government for imposing Rs24 per unit in…

Read More