Saudi Investors Show Keen Interest In Gwadar Oil Refinery Complex, PM Told

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Prime Minister Shehbaz Sharif Monday urged Saudi investors to come forward and invest in the different sectors of Pakistan. Talking to a delegation of Saudi businessmen and investors here, the premier said that Pakistan has huge potential for investment in diverse fields, including agriculture and minerals. He said Saudi Arabia and Pakistan enjoy excellent brotherly relations and both the countries…

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Refineries’ shutdown imminent as LC crisis deepens

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Refineries once again shook up the government to resolve their lingering trade credit issues as in the absence of crude oil imports the industry was facing a shutdown next month, resulting in an acute shortage of petroleum products, The News learnt on Monday.https://ff5b1984769a4368d6250e084c793058.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html The foreign banks were still not confirming local refineries’ letters of credit (LCs) for crude oil imports.…

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Refineries await IMF deal as margins rise

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As profit margins of refineries rise, they are looking at the signing of a loan revival deal between the government and the International Monetary Fund (IMF), which will push global banks to endorse the Letters of Credit (LCs) for oil import. At present, the international banks are reluctant to confirm the LCs as they see higher risks for Pakistan. “This…

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Efforts underway to formulate policies for ‘climate-smart water, agriculture resource management’ in GB

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Pakistan in collaboration with the International Center for Integrated Mountain Development (ICIMOD) and Pakistan Council of Research on Water Resources (PCRWR), on Tuesday organized an event to formulate policies for climate-smart water and agriculture resource management in Gilgit-Baltistan. Different knowledge products were lunched, including fact sheets and issue briefs, co-developed by the partners considering learning of the pilot interventions related…

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PAEC chief for world cooperation in science, technology

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Chairman of the Pakis­tan Atomic Energy Comm­ission (PAEC) Dr Raja Ali Raza has emphasised the need for maximising international cooperation in all spheres of science and technology, saying building bridges to the world’s scientific community will help transform the country into a developed society. Speaking at the annual ‘International Nathiagali Summer College on Physics and Contemporary Needs’, which started on…

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Need to mobilize multiple green finance options to mitigate effects: Speakers

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A capacity building workshop on green Finance organized by Sustainable Development Policy Institute (SPDI) and GIZ (German Cooperation) on Tuesday at a local hotel of Karachi. Special assistant to Prime Minister Romina Khursheed, Acting Governor State bank of Pakistan Syed Murtaza and other development sector experts attended.It is imperative to mobilize multiple green finance options, especially private sector finances, to support Pakistan…

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