Month: January 2022

LPG Carrier “GAS ATHENA” the 3rd consecutive LPG vessel of this month arrived at Gwadar Port on 28th Jan 2022. This represents the effort of Ministry of Maritime Affairs, CPEC Authority, GPA, OGRA and Pakistan Customs to overcome the energy crisis through continuous LPG imports at Gwadar Port. The LPG imports have been gradually normalized at time of Covid-19 global pandemic where supply chain faced many challenges. We are pleased and honoured to announce that determination of our partner M/S Al Qasim Gas has made possible to achieve this milestone.…

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The Federal Board of Revenue (FBR) is introducing steps to regulate movement of foreign currencies including mandatory declaration of foreign currencies with any limit at customs stations, airports, and sea ports, etc. Sources told Business Recorder that the documentation of the financial transactions of the foreign exchange dealers/ exchange companies is amongst the priorities of the FBR. One of the proposals under consideration is to ensure declaration of dollars by all incoming and outgoing passengers. The government has allowed taking up to $10,000 to resident and non-resident Pakistanis per visit. The declaration…

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The Upper House of the Parliament, Senate on Friday approved the State Bank of Pakistan (SBP) Amendment Bill on Friday. The bill has been passed with 44 votes in favor, and 43 votes against. The SBP Amendment Bill was not included in the agenda shared on Thursday night, however was added to the agenda in the morning. Previously it was said that the bill would be discussed in the Senate’s Finance Committee. However the meeting was postponed by the Senate Secretariat citing the fifth wave of COVID-19 as a reason.…

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The board of directors of Sui Southern Gas Company (SSGC) on Saturday approved the acquisition of 11 acres of land on lease from Pakistan Steel Mills (PSM) against its receivables on account of gas supply to the steel unit. According to sources, the board gave the go-ahead for acquiring the piece of land, which was close to the CTS Bin Qasim, on a lease of 30 years. The public gas utility will receive the land on lease for a total amount of Rs386 million. It will adjust the payment against…

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India has geared up its construction activities on the 850MW Ratle Hydropower project and made 330MW Kishenganaga project operational on Pakistan rivers with objectionable designs during the last five-year time after the World Bank stopped on December 12, 2016 separate processes initiated by India and Pakistan under the Indus Waters Treaty to allow the two countries to consider alternative ways to resolve their disagreements on both the said projects. It was Pakistan which moved the World Bank first, seeking the constitution of the court of arbitration to resolve the fate…

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