Day: November 10, 2021

Pakistan has asked China to direct its Export & Credit Insurance Corporation Sinosure to resolve the pending issues pertaining to ML-I and six energy projects. “We have written two separate letters to National Development and Reform Commission (NDRC) for resolution of issues hampering the financial close of six energy projects and the term sheet for ML-I project,” Khalid Mansoor Special Assistant to the Prime Minister on CPEC Affairs said while talking to selected group of journalists here on Tuesday. He said that Chinese companies in power sector have an overdue…

Read More

Two major multilateral institutions –– the World Bank and the Asian Development Bank – are exploring avenues to sell more loans to Pakistan and their senior level delegations had back-to-back meetings with various cabinet members on Tuesday. As part of these interactions, the ADB has formally offered $700 million worth of another loan for Covid-19 vaccination on top of an ongoing $500m loan for procurement of vaccines. A separate delegation of the World Bank also discussed various infrastructure, energy, clean drinking water, drainage, education, health-related projects already being funded by…

Read More

The Ministry of Energy has moved a summary to the Federal Cabinet for ending subsidised gas rates for industries, including captive power plants, which would likely increase the prices, Topline Securities reported in a research on Tuesday. Any increase in subsidised re-gasified liquefied natural gas (RLNG) price would significantly impact the Punjab-based textile players such as Nishat Mills Limited (NML) and Interloop Limited (ILP), as a 10 per cent increase in gas prices would impact the bottom-line of these companies by 2 per cent to 5 per cent. “[The] Punjab-based…

Read More

Pakistan Boulevard’ was inaugurated in Izmir by Mayor Tunç Soyer today. Ambassador of Pakistan in Turkey Syrus Sajjad Qazi, Honorary Consul General of Pakistan in Izmir Cahit Yasar Eren, Mr. Selami Poyraz, President of the Chamber of Commerce Assembly, and Mr. Mahmut Ozgener, President of the Board of Izmir Chamber of Commerce also participated in the inauguration ceremony. Pakistan Boulevard is a 1.5 km long street located in the heart of business and financial district of Izmir.  Ambassador Syrus Sajjad Qazi also visited Pakistan Pavilion in Izmir. Pakistan Pavilion is…

Read More