Day: January 24, 2025

Gold prices hit all-time high in Pakistan

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gold price

Gold prices have surged to historic levels in Pakistan, driven by increases in both the international and local markets. In the global bullion market, the price of gold rose by $29 per ounce, reaching $2,772, Express News reported. Locally, gold prices hit record highs on Friday. The price of 24-karat gold climbed by Rs2,900 per tola to reach Rs289,600, while the price for 10 grams increased by Rs2,486 to settle at Rs248,285. This marks the highest price for gold since October 30, 2024, reflecting a surge driven by both international…

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Global LNG: Asian spot LNG little changed on ample stocks, mild weather

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LNG

KUALA LUMPUR: Asian spot liquefied natural gas (LNG) prices were little changed this week, as ample inventories and mild weather capped demand from East Asian buyers. The average LNG price for March delivery into north-east Asia rose slightly to $14.00 per million British thermal units (mmBtu), industry sources estimated. “Demand in Asia remains tepid, with East Asia demand relatively constrained amidst warmer-than-usual weather,” said Pang Lu Ming, Rystad Energy senior analyst, adding that local forecasts indicated that South Korea and Japan would see above-normal temperatures through to early and mid-February.…

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Pakistan, World Bank agree to expedite implementation of Dasu Hydropower Project

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hydropower

Pakistan and the World Bank have agreed to expedite the implementation of Dasu Hydropower Project (DHP) planned to build a 242-metre tall dam that will support a 4,320 megawatts (MW) hydropower station. The development was shared by World Bank’s Vice President for South Asia Martin Raiser in a post on X, after a meeting with Pakistan energy ministers, Sardar Awais Ahmad Khan Laghari (Power) and Musadik Masood Malik (Petroleum). Dasu Hydropower project: ECC approves compensations for Chinese victims Both sides “reaffirmed commitment to cleaner energy and to bring system losses…

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Dr Musadik Malik and Martin Raiser discuss the progress on projects, commits for continued engagement

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New-Project2

January 24, 2025 — Dr. Musadik Malik, Federal Minister for Water Resources met today with Martin Raiser, World Bank’s Vice President for South Asia, to engage in comprehensive discussions aimed at deepening cooperation and advancing development initiatives. The meeting, held in Islamabad, underscored the mutual commitment to fostering strong economic relationships and addressing shared challenges such as energy security. Both leaders emphasized the significance of collaborative efforts in driving transformative projects. Dr. Malik expressed appreciation for the World Bank’s continued support in critical development projects in energy, infrastructure, social sectors,…

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Awais Leghari for installation of smart meters at Distribution Level Transformers by World Bank for Transparency & just load-management

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New-Project25

7% increase in industrial electricity consumption in December 24 due to Bijli Sahulat Package : Awais Leghari Federal Minister for Power Sardar Awais Ahmed Khan Leghari has urged the World Bank for provision of funds and investment for installation of Smart Meters at Distribution Level Transformers in order to bring transparency and cater for unjust load-management due to losses at micro level. The Federal Minister was talking to visiting World Bank Vice President for South Asian Region Mr. Martin Raiser who met him here alongwith a delegation today. Federal Minister…

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