First Time in History Pakistan Earns $4 Billion in Rice Exports in 2024

rice export

For the first time ever, Pakistan has set a new record by exporting $4 billion worth of rice in the current fiscal year. This remarkable achievement is largely due to the efforts of the Special Investment Facilitation Council (SIFC), which has played a crucial role in boosting the country’s agricultural sector. One of the standout products in this success is…

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Pakistan to Export Rice, Potatoes to Russia, Barter Trade Deal Signed

pakistan deal with pakistan

Islamabad: Pakistan and Russia have signed their first-ever barter trade agreement during the inaugural Pakistan-Russia Trade Forum, according to recent report. This significant deal aims to strengthen economic ties between the two nations by allowing them to exchange agricultural products without relying on traditional payment systems. The move is particularly important due to payment constraints caused by Western sanctions imposed…

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India Foreign Minister to Visit Pakistan for First Time Since 2015

India’s External Affairs Minister Subrahmanyam Jaishankar will attend a China-led summit in Pakistan in place of Prime Minister Narendra Modi, the government said late Friday. It’ll be the first visit to Pakistan by an Indian foreign minister since 2015. Jaishankar will lead the delegation at a state-level meeting of the Shanghai Cooperation Organisation starting on Oct. 15, said Randhir Jaiswal, foreign ministry spokesperson.

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NTDC Restructuring and Transparency Urged for Power Sector Reform

power sector

ISLAMABAD: Federal Minister for Power Division, Sardar Awais Ahmed Khan Laghari, emphasized the need for restructuring the National Transmission and Despatch Company (NTDC) to enhance grid efficiency and sustainability. During a meeting with the Board of Directors (BoDs) and CEOs of power sector companies, alongside experts from the World Bank, Asian Development Bank, and Islamic Development Bank, Laghari highlighted the…

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Plan to Convert Coal Power Plants to Thar Lignite Faces Major Setback

LAHORE: The government’s plan to fully convert coal power plants to 100% Thar lignite has encountered a major hurdle, with the Asian Development Bank (ADB) rejecting the proposal for Jamshoro Power sector news Unit I. ADB, the project’s largest creditor, cited legal agreements allowing only 20% local lignite, with 80% imported coal, as per the original deal. An energy ministry…

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Major Cut in Electricity Prices Unlikely Anytime Soon: Leghari

power sector

ISLAMABAD: Power Minister Awais Leghari on Friday signaled ongoing negotiations with independent power producers (IPPs), stating that the nation would soon hear positive developments regarding efforts to gradually reduce electricity prices. However, he cautioned that significant relief should not be expected immediately. Testifying before the Senate Standing Committee on Power, Leghari explained that the task force he leads, established by…

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China-Pakistan green cooperation gains pace, a viable model of sustainable development: expert

hydropower

Chinese and Pakistani engineers celebrate the starting of first unit wet testing of Suki Kinari Hydropower Project in Mansehra district of Khyber Pakhtunkhwa province, Pakistan, June 16, 2024. The first unit of the China-built Suki Kinari Hydropower project in northwest Pakistan was started up and formally entered the wet testing phase on Sunday. (Photo: Xinhua)Pakistan and China are deepening cooperation…

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UBG President  Strongly Opposes Exorbitant Hike in Power Tariff

zubair-tufail

(24th July 2023) United Business Group(UBG) representing the nation’s economic backbone, stands united in expressing profound concern and anxiety over the recent exorbitant increase in electricity tariffs. This hike has raised significant apprehensions among businesses, threatening to impact the purchasing power of consumers, lead to a decline in exports and investments, and potentially result in the closure of industrial units.…

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