Year: 2022

Cnergyico wins award

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Cnergyico Pk Limited has received an award from the Employers` Federation of Pakistan (EFP) for securing the first position in the 16th Occupational Safety, Health & Wellbeing Award in the oil refinery sector. The award was presented by the President Dr. Arif Alvi and was received by Cnergyico’s Vice President for Information Azfar Saeed Baig during the prestigious OSHW Conference and Awards Ceremony held in Karachi last week. President Alvi congratulated Cnergyico and other recipients of awards and expressed admiration for employers who keep their employees safe and enforce high…

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Chinese firms can invest $6b in ARE

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The world needs more and more energy but natural energy sources are dwindling, therefore Pakistan is coming up with new ways to meet its growing needs – via free wind and sun! Pakistan is planning to generate 10,000 megawatts of alternative renewable energy (ARE) by 2030 with an investment of over $6 billion, for which bidding will take place later this year. Alternative Energy Development Board (AEDB) CEO Shah Jahan Mirza, in an interview with China Economic Net, highlighted the investment opportunities for foreign investors, especially Chinese companies and banks,…

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IMF Refuses to Extend $6 Billion Programme Until Petrol and Electricity Subsidy is Removed

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The International Monetary Fund (IMF) Wednesday delayed the revival of the stalled $6-billion programme for Pakistan. The global lender said that there have been deviations from the policies agreed in the last review, partly reflecting the fuel and power subsidies announced by the government in February In a press release issued after the completion of ongoing talks in Doha, the IMF said that its mission led by Nathan Porter held both in-person and virtual discussions in Doha, Qatar with the Pakistani authorities during May 18-25 on policies to secure macroeconomic…

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Ambassador Donald Blome began his assignment at the United States Embassy in Islamabad today.

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Ambassador Donald Blome began his assignment at the United States Embassy in Islamabad today. Ambassador Blome will lead the United States Mission in Pakistan in its ongoing efforts to deepen connections between the Pakistani and American people and work with the government of Pakistan towards a more stable, secure, and prosperous future for Pakistan. Ambassador Blome brings a wealth of experience and expertise to this shared effort and to the U.S. Mission in Pakistan. On his arrival, Ambassador Blome said, “I am thrilled to be in Pakistan. I look forward…

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Aramco Can’t Add Oil Production Capacity Faster Than Promised

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The world’s largest oil company, Saudi Aramco, cannot increase its oil production capacity any faster than it has already promised, the head of Saudi Aramco told Reuters on Tuesday on the sidelines of the WEF in Davos. Aramco is still planning on increasing its oil production capacity to 13 million barrels per day (bpd)—but that won’t be complete for another five years. In the meantime, Saudi Arabia’s capacity remains at 12 million barrels per day. Amin Nasser, the head of Saudi Aramco, said that it could achieve this 13 million…

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