Day: April 5, 2024

A delegation of German investors will visit in June for investment potential in sindh CG Germany

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Murad-Ali

KARACHI (April 5): Sindh’s Chief Minister, Syed Murad Ali Shah, has extended an invitation to investors from Gulf countries and Germany to consider investing in Sindh province.He believes that Sindh is a province rich in resources and well-connected to the world via sea routes, which makes it an ideal location for trade and commerce to thrive. The Chief Minister believes that investors can expect good returns on their investment in Sindh.This he said during his meeting with German Consul General Mr Rudiger Lotz, Consul General of Qatar Mr Nayef Shahein,…

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Engro announces ending its 16-year presence in Pakistan’s conventional energy sector

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Engro-Corp

Engro Energy Limited, a subsidiary of Engro Corporation Limited, has finalized a Share Purchase Agreement with Liberty Power Holding (Pvt.) Limited and a consortium for the sale of its thermal energy assets portfolio.The consortium comprises Liberty Mills Limited, Soorty Enterprises, and Procon Engineering through Master Group of Industries. The sale of these thermal assets aligns with Engro’s ongoing efforts to streamline and optimize capital and resource allocation. The Share Purchase Agreement covers the sale of Engro Energy’s entire shareholding in Engro Powergen Qadirpur Limited (EPQL), Engro Powergen Thar (Private) Limited…

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NPGCL inks $200m FDI MoU with Chinese firm NGLE

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Power-generation

ISLAMABAD: In a significant stride towards sustainable energy production, Northern Power Generation Company Limited (NPGCL) GENCO-III, Muzaffargarh, in collaboration with Ningbo Green Light Energy (NGLE) (Private) Limited, China, has formalised a memorandum of understanding (MoU) worth $200 million in foreign direct investment (FDI). Facilitated by the Special Investment Facilitation Council (SIFC), this MoU aims to convert an existing thermal power plant into a state-of-the-art 300-MW Solar Power facility. According to the details, it is expected to yield 400 million units of cost-effective electricity using solar energy. This transformative project would…

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Country does need new IMF programme: PM

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pak-imf

ISLAMABAD: The federal cabinet has abolished the National Commission for Child Welfare and Development (NCCWD), the National Child Protection Centre (NCPC) and the implementation of the National Line of Action and decided to include employees of these departments in the surplus pool. While speaking to the participants of the meeting, Prime Minister Shehbaz Sharif also highlighted the importance of a new International Monetary Fund (IMF) programme for the revival of the economy. The finance minister is leaving for Washington to attend the World Bank and the IMF spring meetings where…

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Azerbaijan seeks to resume LNG supply

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Azer-baijan

Pakistan has already inked deal for buying one LNG cargo per month ISLAMABAD: Azerbaijan has emphasised that Pakistan should resume imports of liquefied natural gas (LNG) from the Central Asian nation to meet its growing domestic consumption needs. Earlier, during the tenure of the Pakistan Democratic Movement (PDM) government, the two sides signed an agreement for import of at least one LNG cargo per month. It was not based on the controversial “take-or-pay” clause rather it was a commercial deal that could better suit Pakistan. However, Islamabad imported only a…

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