Year: 2022

Amid widespread electricity shortages, Pakistan failed to find a bidder for three LNG slots and received the highest-ever rate for another slot for the last week of July as European customers lap up spot market quantities to compensate for Russian supply disruption. State-run Pakistan LNG Ltd (PLL) floated a tender on June 16 for four cargos — one each in the first and second weeks, and two in the last week, of July. No bidder came up for July 2-3, July 8-9 and July 25-26 delivery windows. This was the…

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| Shehbaz Sharif tells senators PTI govt violated agreement with IMF | Says conditions for deal with IMF finalisedbut ‘positive results will take some time’ | Directs FIA to investigate poor quality of work on Murree Expressway| Stresses use of modern technology in mining sector ISLAMABAD    –    Prime Minister Shehbaz Sharif said Thursday that the coalition government is committed to steer the country out of the difficult economic situation and vowed to prioritise steps aimed at bringing prosperity and development. Addressing the senators of Pakistan Muslim League-Nawaz (PML-N), the prime…

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Prime Minister Shahbaz Sharif has directed the task force on KE headed by former Prime Minister Shahid Khaqan Abbasi to resolve all outstanding issues of KE within three months, aimed at giving green signal for sale of over 66 percent shares of KES Power to Chinese firm M/s Shanghai Electric Power, well-informed sources told Business Recorder. A high-level delegation of KE comprising its shareholders from Kuwait and Saudi Arabia who are making efforts for years to get the issues of power utility resolved was in federal capital to muster support for…

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Pakistan and Saudi Arabia have renewed their commitment to bolster economic ties in diverse fields including construction, agriculture, livestock and social sector. This commitment to strengthen economic relations was reiterated in an exclusive meeting organized by the Punjab Board of Investment and Trade in the honour of a high-profile Saudi Business Delegation visiting Punjab. The Saudi Business Delegation was led by H E Fahad Al Bash comprising members of the Saudi Business Chamber, while Dr Javed Ahmed Qazi, Secretary Industries Punjab, Imran Amin, CEO of Lahore Central Business District Development…

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Shabbir Mansha, acting president FPCCI, has said that the interest rate of 13.75 percent will not let the economy to grow and the prices of electricity and gas have already made us uncompetitive as far as the exports are concerned. Additionally, there are rumors that interest rate may be further raised. He added that the government should also consult with the stakeholders in business, industry and trade on how and when interest rate can be brought down so that, businesses can plan their year ahead accordingly. Shabbir Mansha noted with…

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