Year: 2025

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday called on Azerbaijan’s state-owned energy giant SOCAR to seize promising investment opportunities in Pakistan’s oil and gas sector, as the country seeks to attract critical foreign capital amid ongoing energy challenges. During a meeting with Mikayil Jabbarov, Azerbaijan’s Minister of Economy, who led an official delegation to Pakistan, Sharif highlighted Azerbaijan’s strategic interest in the White Oil Pipeline Project, a key infrastructure initiative expected to enhance regional energy connectivity. The discussions focused on strengthening economic ties and exploring a Pakistan-Azerbaijan Joint Investment Company…

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The Asian Development Bank (ADB) has approved an additional $48 million in financing for the Balochistan Water Resources Development Sector Project, aimed at addressing prolonged delays and strengthening water security in Pakistan’s largest province. In a statement issued Wednesday, ADB confirmed that the new funding will help complete key components previously stalled due to budget constraints. These include the Churi Infiltration Gallery, the development of the Siri Toi Dam command area, and crucial watershed management interventions. These elements are essential for improving irrigation efficiency, promoting sustainable water use, and curbing…

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Barrick Mining Corp remains firmly committed to developing the massive Reko Diq copper and gold project in Balochistan, its interim CEO said on Tuesday, dispelling reports suggesting a potential withdrawal from Pakistan. The $7 billion project — one of the world’s largest undeveloped copper deposits — is jointly owned by Barrick and the Government of Pakistan. Production is expected to begin by the end of 2028. Recent Reuters reports indicated that Barrick’s board had discussed the possibility of restructuring or splitting assets, including a potential sale of Reko Diq and…

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KARACHI: Commerce Minister Jam Kamal Khan said on Tuesday that the government is actively reviewing economic challenges and is making “all-out efforts” to bring down electricity tariffs for industries to boost competitiveness. Speaking at the inauguration of the 3rd International Food and Agriculture Exhibition at the Expo Centre, the minister highlighted several key trade facilitation measures. He noted that the long-standing demand of exporters had been met with the abolition of the 0.25pc export surcharge. Mr Kamal revealed that Pakistan is renegotiating multiple trade agreements, including the newly approved Free…

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ISLAMABAD: Pakistan’s unemployed population has risen sharply by 31 per cent over the past four years — climbing from 4.5 million in 2020-21 to 5.9 million in 2024-25 — underscoring the growing stress on the country’s labour market. The data, released by Minister for Planning and Development Ahsan Iqbal, reveals that unemployment has increased across all age groups, regions, and genders. Youth joblessness saw a notable jump: the unemployment rate for individuals aged 15–24 increased from 11.1pc to 12.6pc, while the 15–29 bracket rose from 10.3pc to 11.5pc. Overall, the…

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