Day: November 6, 2024

Leaders Highlight Need for immediate action to Tackle Pakistan’s Economic and Environmental Challenges

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summit

Karachi, November 06, 2024: The 8th Edition of THE FUTURE SUMMIT commenced with a packed hall at a local hotel in Karachi. Farrukh Amin, Chief Executive Officer, Unity Foods Limited and Muhammad Azfar Ahsan, Founder & Chairman, Nutshell Group, welcomed the audience. The inaugural session featured an impressive lineup of speakers including Senator Muhammad Aurangzeb, Federal Minister for Finance & Revenue; Dr. Shamshad Akhtar, Chairperson, Pakistan Stock Exchange Ltd.; Yousaf Hussain, President, OICCI and President & CEO, Faysal Bank Limited; Dr. Bakheet Ateeq Al Rumaithi, Consul General of the UAE;…

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Pakistan-China Security Cooperation: A Strengthened Partnership for Regional Stability

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Pakistan-China

Pakistan’s commitment to ensuring the safety and security of Chinese nationals in Pakistan has become increasingly significant as terrorist attacks targeting Chinese personnel have intensified in recent years. This commitment was highlighted during the recent visit of Chinese Premier Li Qiang to Pakistan, where the two nations reinforced their determination to combat terrorism, safeguard Chinese nationals, and secure key infrastructure projects associated with the China-Pakistan Economic Corridor (CPEC). As this partnership grows, so does Pakistan’s resolve to protect Chinese citizens, viewing their safety as crucial to the continued progress of…

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Foreign direct investment in Pakistan energy sector surges to $585.6mn in Q1FY25

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Power-sector

SBP reported a 48 percent increase in FDI, with inflows reaching $771 million in Q1FY25 Foreign direct investment (FDI) in Pakistan’s energy sector, including power and oil and gas exploration, reached $585.6 million during July-September 2024-25 (Q1FY25), a significant increase from $266.3 million in the same period last year (Q1FY24). The power sector remained the largest recipient, followed closely by financial services and oil and gas exploration, showcasing 119.9 percent growth over the first quarter compared to last fiscal year. The Overseas Investors Chamber of Commerce and Industry (OICCI) highlighted…

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Government Should announce Winter Package with Power Tariff at Rs. 20 / Unit for Export-Oriented Industries President FPCCI

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fpcci

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has urged the government to announce a comprehensive, effective and multi-sectoral winter package for trade and industry to mitigate and overcome challenges in industrial production. The industries are in a dire need of facilitation, incentivization and cost-cutting measures to meet export targets through competitiveness in the export markets, he added. Atif Ikram Sheikh apprised that the primary demand of FPCCI is Rs. 20 / kWh electricity tariff for export-oriented industries as, at the moment, the biggest contributor to the cost of production and…

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Chinese Solar Giants Report Mixed Q3 Results Amid Market Challenges

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Solar-Panels

In their Q3 2024 financial reports, China’s top solar companies – JinkoSolar, JA Solar, LONGi, and Trina Solar – showed varied performance as they navigated industry pressures. JinkoSolar faced a sharp 99.41% year-on-year profit drop, posting a net profit of CNY 14.87 million ($2.09 million) and a 22.09% revenue decline to CNY 24.519 billion. Over the first nine months, JinkoSolar’s revenue totaled CNY 71.77 billion, down 15.66%, with module shipments reaching 67.65 GW, primarily n-type. It aims for annual shipments of up to 100 GW. JA Solar saw a CNY…

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