Category: Recent Post

October 6: Federal Minister for Economic Affairs Omar Ayub Khan said on Tuesday afternoon that Pakistan would be a regional hub for transit trade and investment opportunities in the near future thanks to CPEC. In a meeting here with The Kazakhstan Ambassador Yerzhan Kistafin at his office, Khan highlighted that there was huge potential for enhancing bilateral trade and investment…

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West Texas Intermediate crude futures, the U.S. oil benchmark, crossed $80 per barrel on Friday for the first time since November 2014 as demand rebounds while supply remains tight. The U.S. oil benchmark jumped more than 2% to trade as high as $80.09 on Friday, before easing from that level and hovering around $79.70 at 11:30am on Wall Street. Brent…

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Freight rates to ship liquefied natural gas (LNG) rose to multi-month highs this week as a surge in demand for the super-chlled fuel has increased the need for vessels to move supplies, multiple trade and shipping sources said. The daily charter rate for a tri-fuel diesel-electric (TFDE) vessel that can carry 160,000 cubic metres of LNG to Pacific basin ports…

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SBP takes measures to curb undesirable foreign currency outflow State Bank of Pakistan has introduced following regulatory measures: Persons travelling to Afghanistan will be allowed to carry only USD1,000/- per person per visit Maximum annual limit of USD6,000. Exchange companies will be required to conduct biometric verification for all foreign currency sale transactions equivalent to USD500/- and above and outward…

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In an ambitious turn, Pakistan and China have agreed to develop the Karachi coast, possibly shifting away from Gwadar as the center stage of the Belt and Road project in Pakistan, following ongoing problems at the southwestern province of Balochistan. A memorandum of understanding was signed for the Karachi Coastal Comprehensive Development Zone project during the recently held 10th Joint Cooperation…

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ISTANBUL, 6 October 2021: A ‘Naming Ceremony’ was organized at SANMAR Shipyards, Istanbul today to commemorate cooperation between SANMAR Shipyards, Turkey and Port Qasim Authority (PQA), Pakistan. Under an agreement, PQA has bought 4 ASD LNG Compatible Tugs and 2 Pilot Boats from SANMAR Shipyards. This project is yet another manifestation of the growing ties between Pakistan and Turkey in…

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Bulk consumers of electricity will have the option to buy electricity on a competitive basis from any power producer of their choice from July 2022 onwards, said Tabish Gauhar, who recently stepped down as Special Assistant to the Prime Minister (SAPM) on Power and Petroleum. Addressing the members of CFA Society Pakistan on Wednesday, Mr Gauhar said the first phase…

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The government on Tuesday approved the seasonal concessional electricity package for domestic and commercial consumers for the off-peak November-February period, granting a concession of up to Rs7/unit. This concession will be available to these power consumers on the additional units of power consumed in given month over same month of the last year, according to an official handout. Minister for…

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Organised by the Dubai Electricity and Water Authority (Dewa), the event is being held under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and under the patronage of Sheikh Ahmed bin Saeed Al Maktoum, chairman of the Dubai Supreme Council of Energy and chairman of the…

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The Supreme Court noted that no substantial investment has been made for the improvement of transmission lines and alternative power generation plants. A three-judge bench, headed by Justice Umar Ata Bandial, on Tuesday, heard a review petition of the All Pakistan Textile Mills Association (APTMA). Justice Bandial said there was a need to support the economic activities and that export-oriented…

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