Day: October 8, 2024

Uzbekistan appoints new ambassador to Pakistan Alisher Tukhtaev has been appointed as the new Ambassador of Uzbekistan to Pakistan.

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new-Ambassador

According to the information agency “Dunyo”, Tukhtaev has already arrived in Islamabad to assume his duties. Prior to this appointment, Tukhtaev served as an advisor to the Minister of Foreign Affairs of Uzbekistan. His extensive experience also includes roles at the Institute for Strategic and Interregional Studies under the President of Uzbekistan, as well as within the Presidential Administration. Tukhtaev succeeds Oybek Usmanov, who led the Uzbek Embassy in Pakistan from 2021 to 2024. The transition marks a continuation of Uzbekistan’s diplomatic engagement with Pakistan, a key partner in the…

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Oil Prices Fall as Investors Trim Bets on Middle East Conflict After Recent Surge

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oil price

SINGAPORE: Oil prices dropped by over $1 on Tuesday as traders took profits following a sharp rally driven by fears of escalating conflict in the Middle East. Brent crude fell $1.17, or 1.5%, to $79.76 per barrel, while US West Texas Intermediate (WTI) dropped $1.19, or 1.6%, to $75.95 per barrel around 0420 GMT. The market saw a 3% rise on Monday, its highest since late August, amid concerns that growing tensions in the region could disrupt oil supply. However, investors have started to scale back bets on the conflict’s…

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Pakistan and China to Ink $16 Billion Debt Re-Profiling Pacts During Premier Li’s Visit

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cpec

ISLAMABAD: Pakistan and Chinese power companies are set to sign agreements on debt reprofiling and a moratorium on over $16 billion in payments during Chinese Premier Li Qiang’s upcoming visit, sources from the Private Power and Infrastructure Board (PPIB) have revealed. The agreements, involving nine power projects and one transmission line under the China-Pakistan Economic Corridor (CPEC), will aim to rationalize Pakistan’s rising electricity tariffs. The proposed deal includes a five-year extension on debt repayments and a three-year moratorium on principal payments. Following meetings between Pakistan’s Energy and Finance Ministers…

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Four IPPs Ink Early Termination Deals, Hubco Likely to Follow

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Power-sector

ISLAMABAD: The federal government’s negotiations with several Independent Power Producers (IPPs) have started to yield results, with four IPPs—Atlas Power, Saba Power, Rousch Power, and Lalpir Power—agreeing to prematurely terminate their Power Purchase Agreements (PPAs). Hubco is expected to finalize a similar deal in the coming days, well-informed sources reported. The government’s Task Force on the Power Sector, consisting of security officers, legal experts, and representatives from SECP, PPIB, CPPA-G, and Nepra, played a pivotal role in persuading IPPs established under pre-1994, 1994, and 2002 policies to renegotiate their agreements.…

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China asks Pakistan to beef up security for Chinese projects in country after Karachi terror attack

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China-Karachi

Karachi The government should extend foolproof protection to the foreign and Pakistani workers working on strategically vital power projects to ensure Pakistan’s energy security.In its latest statement, the Embassy of China in Islamabad called on Pakistan’s government to beef up the security for Chinese nationals, business organisations, and China-backed developed projects in the country.The statement was issued after an attack near Karachi Airport on the convoy transporting the Chinese employees of Port Qasim Electric Power Company. The attack killed two Chinese nationals and injured another Chinese.The Chinese Embassy and Consulate…

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