Day: January 17, 2024

Pakistan Launches Three Groundbreaking Initiatives Through The Efforts of Hisaar Foundation

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hisaar

Karachi – In the wake of the recently concluded 6th Karachi International Water Conference, organized by Hisaar Foundation (HF) in association with Infra Zamin Pakistan and other partners, Pakistan has taken a significant leap by unveiling three essential initiatives aimed at addressing pressing water and climate challenges. The two-day conference, a testament to Hisaar Foundation’s persistent dedication to water-related issues in Pakistan served as a spark for these transformative endeavors, culminating in a Declaration that proposed the launch of these three initiatives, and within a month of the Conference, the…

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KCCI DELEGATION MEETS CHAIRMAN KPTZaidi grills Shipping Cos, vows to go tough against exorbitantly high, unlawful charges

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KCCI

KARACHI: Chairman Karachi Port Trust (KPT) Syed Syedain Raza Zaidi, after listening to the grievances being faced by business community due to exorbitantly high and totally unjust charges, grilled Shipping Companies for terribly looting traders by overcharging under various headers without any justification.KPT will go very tough against the highhandedness of shipping companies, hence, they should submit details of their registration, license, relevant laws or any agreement within 10 days which authorized them to take excessively high charges, he added after representatives of shipping companies failed to defend their position…

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Pakistan’s Strong Condemnation of the Unprovoked Violation of its Air Space

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Foreign-Affairs

Pakistan strongly condemns the unprovoked violation of its airspace by Iran and the strike inside Pakistani territory which resulted in death of two innocent children while injuring three girls. This violation of Pakistan’s sovereignty is completely unacceptable and can have serious consequences. It is even more concerning that this illegal act has taken place despite the existence of several channels of communication between Pakistan and Iran. Pakistan’s strong protest has already been lodged with the concerned senior official in the Iranian Ministry of Foreign Affairs in Tehran. Additionally, the Iranian…

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Oil and gas firms to be allowed to sell 50pc gas to private sector: minister

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Energy-minister

ISLAMABAD: The government is going to allow the country’s oil and gas exploration and production (E&P) companies — OGDCL, PPL, GHPL, Mari gas, and foreign companies — to directly sell 50 percent of gas to the private sector and 50 percent to state-owned gas companies. This initiative would not only help reduce the financial morass of the E&P companies that emerged in the wake of their circular debt because of non-payments by Sui gas companies, but also would have fiscal relief because of selling gas directly to the private sector,…

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Energy sector circular debt hits record Rs5.73tr despite tariff hikes

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power-e-unit

The viability of power and gas sector companies continues to deteriorate due to the circular debt, affecting Pakistan’s borrowing options Pakistan’s energy sector is grappling with soaring circular debt, now reaching a staggering Rs5.73 trillion, as revealed by official documents. This figure has exceeded the previous estimate reported to the International Monetary Fund (IMF) two months ago by Rs1.5 trillion. The breakdown of this debt shows that the power sector’s dues have surpassed Rs2.7 trillion, while the gas sector owes over Rs3 trillion, cumulatively pushing the total unfinanced debt to…

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