Important issues remain to be solved as Pakistan seeks potential follow-up programme: IMF chief


International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Thursday said that Pakistan is in discussions with the Fund on a potential follow-up programme to the previous nine-month $3 billion stand-by arrangement (SBA), adding that important issues remained to be solved. Georgieva told an event at the Atlantic Council think tank, that Pakistan was successfully completing its existing programme with…

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PEL wins legal battle against Canadian firm


ISLAMABAD: A Pakistani oil firm has won a legal battle against a Bermuda-based company at the International Court of Arbitration, which ruled that Pakistani laws govern the Petroleum Concession Agreements (PCAs) signed in the country. The Bermuda-based company Frontier Holdings Ltd (FHL) faced defeat in a prolonged legal dispute at the International Court of Arbitration against Petroleum Exploration (Pvt) Ltd…

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Oil, gas firms await incentives for output boost


Have potential to raise production from existing fields by embracing modern technology ISLAMABAD: Oil and gas exploration companies have called on the new government to formulate a policy that will offer incentives for optimising hydrocarbon production from the existing fields to ensure the country’s energy security. Sources told The Express Tribune that several oil and gas exploration companies had the…

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CHINT Power signs deals with PV firms


Under contracts, Pakistani partners will distribute 200MW of inverters BEIJING: Chint Power recently signed cooperation agreements with two photovoltaic (PV) companies for the distribution of 200 megawatts of inverters. Chint Power introduced industrial and commercial PV, ground power plant PV and energy storage system solutions at SolarEX in Turkey and reached these cooperation deals. Chint Power is a solar power…

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