End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country.
Read MoreIMF Reaches Staff-level Agreement with Pakistan on a US$3 billion Stand-By Arrangement
Month: June 2023
LONGi Expands Presence in MENA and CA with New Dubai Headquarters
LONGi, is pleased to announce the opening of its new Middle East and North Africa (MENA) and Central Asia (CA) headquarters in Dubai, United Arab Emirates. This strategic move represents LONGi’s commitment to expanding its presence in the region and serving as a hub for its operations and growth initiatives.
Read MoreBonded Bulk Storage Policy will end fuel hoarding, reduce pressure on rupee: Musadik Malik
State Minister for Petroleum Musadik Malik announced on Wednesday that the Bonded Bulk Storage Policy 2023, recently approved by the Economic Coordination Committee (ECC) of the cabinet, will end the hoarding of petroleum products, reduce pressure on foreign exchange reserves and eliminate the fear of oil dry out in Pakistan. In a press conference, he said this policy will stop the hoarding of oil because it will ensure an ample supply of fuel in the country, and “millions of tons of oil will be available in Pakistan at all times”.…
Read MoreECC concerned at ‘higher generation cost’ of KE
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is said to have expressed concerns over higher generation cost of K-Electric (KE), seeking a detailed plan of cost rationalization, well informed sources told Business Recorder. On June 21, 2023, during the ensuing discussion, Power Division shared detailed calculations and justification for the case and highlighted that Finance Division had agreed with the proposal. Secretary Power Division requested the ECC for modification in proposal of the summary to be considered as “Rs. 75.379 billion” instead of “Rs. 79 billion”. The ECC endorsed…
Read MoreWAPDA, UAE group ink MoUs to address Pakistan’s energy crisis
In a groundbreaking development, the United Arab Emirates (UAE) has committed a substantial investment package to accelerate the adoption of sustainable energy solutions in Pakistan, further strengthening their bilateral ties. The Water and Power Development Authority (WAPDA) and the private office of Sheikh Ahmed Dalmook Al Maktoum here on Sunday signed two significant Memorandum of Understanding (MoUs) to undertake strategic projects in Pakistan’s energy sector. The first MoU focuses on the development of a floating solar power project of up to 1000MW on existing water reservoirs, while the second MoU…
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