Day: September 14, 2024

The MOU between Gwadar and Turkmenbashi ports under CPEC is set to positively impact Secure Logistics Group (SLGL) and boost Pakistan’s logistics industry by opening new trade routes between Pakistan and Central Asia. With its recently acquired TIR license, SLGL is well-positioned to expand its logistics services across these regions, particularly in high-revenue long-haul routes. For example, a round trip from Karachi to Tashkent generates PKR 2.3-2.4 million (USD 8,000), nearly double the revenue of two Karachi-Islamabad trips. This agreement could also boost SLGL’s role in regional trade, benefiting from…

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has fined the Gujranwala Electric Power Company (Gepco) Rs10 million for failing to meet earthing and grounding requirements for its high-tension and low-tension poles and structures. The penalty follows Gepco’s unsatisfactory response to a show-cause notice during a hearing on May 13, 2024. Nepra criticised Gepco’s delayed approach, highlighting fatalities caused by current leakages from ungrounded steel structures. The regulatory body ordered Gepco to ground all remaining steel structures within three months and complete the grounding of PCC poles within a year,…

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ISLAMABAD: The federal government is funding the construction of 32 dam projects during the current fiscal year, the National Assembly was informed on Friday. Minister for Water Resources, Musadik Malik, stated that these projects, once completed, will have a storage capacity of 8.4 million acre-feet of water and will irrigate 436,934 acres of new agricultural land. Malik highlighted the government’s efforts to manage water resources, including the installation of an automatic telemetry system to resolve provincial water disputes. He also pointed to upcoming dam projects like Shyok, Akhori, and Chiniot,…

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LAHORE: Pakistan is moving closer to securing a new deal with the International Monetary Fund (IMF) following the successful conclusion of talks between IMF staff and Pakistani officials. While concerns about political instability and debt sustainability persist, the progress in negotiations and Pakistan’s efforts to meet IMF conditions increase the likelihood of approval. Pakistan has implemented several IMF-mandated reforms, though political and economic challenges remain. The country’s strategic importance and support from key nations like the US, China, and Gulf states may influence the IMF’s decision in its favor. Despite…

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