Author: Admin

German Chamber of Commerce to Establish Presence in Pakistan Irfan Iqbal Sheikh

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irfan-ali-sheikh

Karachi Irfan Iqbal Sheikh, President FPCCI, has informed that, in a landmark development, H. E. Mr. Rudiger Lotz, Consul General of Germany in Karachi, has apprised the apex body that German Chamber of Commerce & Industry (DIHK) is expected to establish its office in Pakistan – and, that reflects the importance Germany attaches to the trade, industrial and economic relations with Pakistan. It is pertinent to note that H. E. Mr. Rudiger Lotz paid a high-profile and detailed visit to FPCCI Head Office to offer German support to Pakistan in…

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OGRA rejects bias claims

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Oil-and-Gas

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Tuesday rejected the baseless assertions of being partisan and biased toward emerging oil marketing companies, as made in the letter of the Oil Marketing Association of Pakistan (OMAP). “As the regulator of the oil industry, OGRA is fully aware of its responsibilities and diligently regulates the midstream and downstream petroleum sectors in accordance with the OGRA Ordinance and rules and regulations made thereunder,” OGRA said in a statement. OGRA has an open-door policy towards communication with all its licensees and any…

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SIFC to ensure ‘ease of doing business’ for investors: COAS

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Gen-Asim

There are vast mining opportunities in our country which will be realised through joint efforts, says Gen Asim ISLAMABAD: Chief of Army Staff (COAS), General Syed Asim Munir on Tuesday said the Pakistan government, along with state institutions, had ensured the establishment of Special Investment Facilitation Council (SIFC), in order to bring all stakeholders to a single platform. Addressing the Pakistan Mineral Summit in Islamabad, he said the SIFC had laid down new rules for ‘ease of doing business’ for domestic and foreign investors in the country. “We will ensure…

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PLL skips awarding tender to Trafigura

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LNG

SINGAPORE: Pakistan LNG Limited (PLL) did not award a tender to commodities trader Trafigura, which had offered bids to deliver two spot cargoes of liquefied natural gas (LNG) to the South Asian nation next year, an industry source said on Tuesday. Trafigura had offered bids of $23.47 per million British thermal units (mmBtu) for an LNG import tender to be delivered on January 3-4 and $22.47 per mmBtu for February 23-24 delivery, a source said last month. A notice on PLL’s website showed it received two bids from Trafigura as…

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Reko Diq project: Pakistan, Barrick Gold agree to pay share in Rupees

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Reko-Diq

ISLAMABAD: Pakistan and Barrick Gold Corporation on Tuesday agreed to pay the share of the government of Pakistan in Rupees for the investment in Reko Diq project, ARY News reported. The agreement came during a meeting between Prime Minister (PM) Shehbaz Sharif and a delegation of Barrick Gold Corporation, which called on him in Islamabad. The Barrick Gold Corporation’s delegation was led by its Chief Executive Officer Mark Bristow. He briefed the Prime Minister about the progress on the ongoing development work at Reko Diq. Speaking on the occasion, PM…

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