Month: March 2024

Curtain rises on five-year plan for economic revival

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Musadik-Malik

Ms Khawaja, who attended the meeting, said the committee, after getting the required information from the ministries and divisions, would prepare a consolidated document carrying five-year targets for all sectors. She said several meetings would be held soon on the five-year roadmap.Earlier, speaking at the meeting, the prime minister said consultation should be held on the plan with all stakeholders of different sectors of economy.“Without wasting any time, implementation of projects for the economic stability and progress of the country should be ensu­red,” PM Shehbaz said, according to an official…

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FRENCH DEPUTY HEAD OF MISSION EXPRESSES INTEREST IN ENERGY SECTOR INVESTMENT IN PAKISTAN

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ENERGY-SECTOR

In a recent meeting, the French Deputy Head of Mission (Guillaume Dabouis) called on the newly appointed Minister of Energy, Dr. Musadiq Masood Malik, to discuss potential avenues of collaboration in Pakistan’s energy sector. During the meeting, French officials expressed France’s keen interest in investing in various aspects of Pakistan’s energy landscape, ranging from LNG cargo provision to energy resource exploration, and projects aimed at enhancing energy trading, distribution, and transmission within the country. Additionally, the French delegation has conveyed their interest in initiatives directed towards reducing line losses and…

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GoodWe Officially Announces Inauguration of First Overseas Manufacturing Base, a Globalization Milestone

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New-Goodwe2

GoodWe, a leading player in the solar energy industry, has announced the official commencement of operations at its first overseas manufacturing plant in Haiphong, Vietnam. Representing a significant milestone in the company’s global expansion strategy, this new facility also marks the third in GoodWe’s manufacturing network, reinforcing its dedication to efficiently delivering tailored, high-quality products to its customers worldwide. The inauguration ceremony, held on March 11th, commemorated the opening of GoodWe Vietnam Technology Co., Ltd and the commencement of production at this facility. Daniel Huang, Founder and CEO of GoodWe,…

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Power Division Asserts Full Compliance with IMF Agreements

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Power-generation

The Power Division has affirmed its complete adherence to all agreements made with the International Monetary Fund (IMF), stating that it has submitted reports detailing actions taken up to January 2024. An official clarified that the IMF Mission will review these reports and pose queries based on their analysis, which will be addressed during discussions. Moving forward, input from ministries will be incorporated into negotiations for the 2024-25 budget. Regarding the reduction of capacity payments, the government aims to fulfill its commitment of zero net Circular Debt accumulation for FY24.…

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Rising Energy Costs Compound Economic Burden on Consumers

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power-sector

The cost of living has surged notably, driven by increasing utility bills and transportation expenses, exacerbating economic challenges for consumers. A mixed trend in food prices during the last Ramazan has contributed to this heightened financial strain. Data from the Sensitive Price Index (SPI) reveals significant changes in food prices. For instance, the average national price of a 20kg flour bag has risen to Rs2,500-2,960 from Rs1,295-3,000 compared to the same period in 2023. Similarly, prices of wheat and fine flour have increased despite efforts by flour millers to stabilize…

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