Year: 2022

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 is getting quite serious,” Pakistan Refinery Limited CEO Zahid Mir told The Express Tribune while referring to the hurdles being faced by the refineries in the way of crude oil…

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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 to lifting water technologies and community-based flood early warning systems. These knowledge products could help relevant stakeholders for scaling of best practices through policies and programs. Key stakeholders including relevant…

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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 Monday, the PAEC chairman said the increasing level of interaction with foreign research and development institutions will lead to acceleration in the process of transforming Pakistan into a dynamic hub…

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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 in achieving the Nationally Determined Contributions (NDCs) in terms of reduction in carbon emissions by 2030, said the experts at a workshop for Implementation of Green Financing Mechanisms in Pakistan.Speaking…

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Are Oilfield Service Companies A Buy?

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oil

Last week, we presented a bear case for the energy sector based on the premise that oil and gas stocks could be in danger of overheating. Energy is the 4th most expensive sector going by Shiller’s P/E, and also looks overvalued compared to gold prices. It’s a sentiment that has also been gaining momentum across Wall Street.  “Energy traders are confident this oil market will remain tight given the short-term supply outlooks from both OPEC+ and the US, but it has been a steady climb higher. Exhaustion could be settling in,” Ed…

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