Day: May 2, 2024

NFEH seminar on enrolling out-of-school children in Pakistan & CSR Award ceremony

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CSR-Karachi

Call to use 2,50,000 mosques in Pakistan in daytime as special literacy centres to impart primary schooling Karachi: Over 2,50,000 mosques in the country should be used during the day hours as special literacy centres to impart primary-level school education as part of the accelerated drive to educate a record 26.2 million out-of-school children in Pakistan.Former Caretaker Federal Minister for Religious Affairs, Aneeq Ahmed, put forth this suggestion while speaking as the chief guest at a seminar on effective steps to enrol out-of-school children in Pakistan organised by the National…

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Pakistan Urged to Negotiate Settlement with Star Hydro to Mitigate MIGA Guarantee Risks

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green-hydrogen

The Attorney General’s Office has advised Pakistan’s Power Division and National Transmission and Despatch Company (NTDC) to engage in negotiations with M/s Star Hydro to resolve an arbitration award issue, reducing the risk of a Multilateral Investment Guarantee Agency (MIGA) guarantee being called upon. Following discussions at the Prime Minister’s Office and recent communications from the World Bank, emphasizing the urgency of resolving the matter, Pakistan faces a potential liability under the MIGA-covered Government of Pakistan Guarantee (GoP Guarantee) for the Star Hydropower project. The arbitration award, rendered in favor…

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Sindh govt will provide free solar panels to deserving people in two phases

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Solar-Penel

CM Sindh & EU Ambassador discuss projects of solar panels, school constructions KARACHI (April 30): Sindh Chief Minister Syed Murad Ali Shah in his meeting and European Union Ambassador Dr. Riina Kionka discussed two new projects aimed at helping those affected by the flood.One project involves the reconstruction of school buildings damaged by the flood, while the other project aims to provide solar panels to people living off-grid. The provision of solar panels will be done in two phases, with the first phase targeting those who are living off-grid and…

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Barrick Gold in Talks to Raise $2 Billion for Pakistan’s Reko Diq Project

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Reko-Diq

Canadian mining company Barrick Gold is engaged in discussions with the International Finance Corporation and other agencies to secure at least $2 billion for the initial phase of Pakistan’s Reko Diq copper project, CEO Mark Bristow informed Reuters. The Reko Diq project, in which Barrick holds a 50% stake, is anticipated to cost $5.5 billion for its first phase. This project, co-owned 50% by the Pakistan government, represents one of the world’s significant untapped copper mines. Saudi Arabia is negotiating to purchase a portion of Pakistan’s stake in the project,…

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OGDCL Reports Rs171 Billion Profit in First Nine Months

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OGDCL-1

Oil and Gas Development Company Ltd (OGDCL) has announced a notable 7.18% increase in its profit after tax (PAT), reaching Rs171.104 billion with earnings per share at Rs39.78 for the first nine months ending March 31, 2023-24. According to a statement released on Wednesday, OGDCL’s net sales revenue stood at Rs348.164 billion. The board declared an interim cash dividend of Rs2 per share or 20% for the quarter ending March 31, in addition to the earlier interim dividend of Rs4.1 per share paid to shareholders.

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