Month: August 2023

Pakistan Mineral Summit: PM Calls for Putting Country On Path Of Development

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Shahbaz-Sharif

Prime Minister Muhammad Shehbaz Sharif has stressed the need for making untiring efforts and hard work to realize the dream of our forefathers to put the country on path of development and prosperity. Addressing the inaugural session of “Pakistan Minerals Summit” in Islamabad today, he said today is the day to learn lesson from the past and move forward in unison. He said the story of Pakistan journey of seven five years is heart wrenching, but if we convert the speeches and presentations made in the summit into action in…

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Govt hikes petrol, diesel prices by Rs19

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Ishaq-Dar

Finance Minister Ishaq Dar on Tuesday announced a massive hike of Rs19 in petrol and diesel prices, taking them to Rs272.95 and 273.40 per litre, respectively. In televised remarks, the finance minister said that the price of high speed diesel (HSD) and petrol in the international market had increased over the last 15 days. He said that the government had checked the “working” of Oil and Gas Regulatory Authority (Ogra) until the late hours of the night. “The delay in the announcement, the basic reason was that we were looking…

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Russian oil imports face port, refinery, currency constraints

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Russian-oil

KARACHI: Pakistan is unlikely to meet a target for Russian crude to make up two-thirds of its oil imports, despite attractive prices, hampered by a shortage of foreign currency and limitations at its refineries and ports, officials and analysts say. The cash-strapped South Asian nation became Russia’s latest customer snapping up discounted crude that has been banned from European markets due to Russia’s war on Ukraine. Its first cargo arrived in June and a second is now under negotiation. It is targeting 100,000 bpd of imports from Russia, compared with…

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Six MoUs inked with China

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pak-China

ISLAMABAD: Pakistan and China, on Monday, signed six memorandums of understanding (MoUs) to further enhance bilateral cooperation and promote economic relations between the two countries during the visit of Vice-Premier He Lifeng. Under the 10–year celebrations of China-Pakistan Economic Corridor (CPEC), Pakistan and China have signed MoUs during a ceremony held at the Prime Minister’s Office after a meeting between Prime Minister Shehbaz and Chinese Vice-Premier Lifeng, who is on a three-day visit to Pakistan to mark 10 years of the multi-billion-dollar CPEC. The signing ceremony was witnessed by the…

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Govt has settled KE dispute, reduced circular debt: minister

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Power-voices

ISLAMABAD: The coalition government of Pakistan Muslim League-Nawaz (PML-N), on Monday, claimed that it settled Rs171 billion tariff differential claims of K-Electric (KE) besides reduction of Rs157billion in power circular debt in the last 15 months. Addressing a news conference here on Monday, Minister for Power Khurram Dastgir claimed that the government had added 5,063-MW electricity to the national grid during its tenure. “Around 1,980 megawatts from Thar Coal, 720 megawatts from Karot Hydropower project, 1,100 megawatts from K-3 nuclear power plant, and 1,263 megawatts from Haveli Bahadur Shah RLNG…

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