Author: Admin

Iranian Finance Minister removed on poor performance

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Iran-Inks

TEHRAN Iranian lawmakers on Sunday gave a vote of no confidence to the minister of Economic Affairs and Finance, terminating the term of Abdolnaser Hemmati 193 days after he took office. Hemmati attended an open session of the Parliament on Sunday and took the podium to answer the questions of a number of lawmakers, complaining about his ministry’s performance and poor handling of the economic situation.At the conclusion of the impeachment, the parliamentarians voted for the motion to dismiss the minister with 182 votes in favor, 89 no votes, and…

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PM’s Adviser Muhammad Ali is likely to take Charge of Privatization Commission

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New-Project47

Prime Minister’s Adviser Muhammad Ali is likely to take charge of the Privatization portfolio, sources reveal. His key tasks will include privatizing power distribution companies (Discos) and state-owned gas companies, Sui Northern and Sui Southern, by unbundling them into transmission and distribution companies.¹ Ali’s experience as energy minister during the interim regime makes him an ideal candidate for the role. The government aims to address the significant losses incurred by state-owned companies, including Rs851 billion annually, and Rs600 billion by Discos, which also contribute to a monthly circular debt of…

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Thar Coal Railway Project: 105km Track to be Completed by Dec 2025

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Thar-coal

Pakistan is making strides in expanding its energy infrastructure, with two major projects set to enhance energy security and reduce reliance on expensive fuel imports. The Thar Coal Railway Line, a 105km rail network connecting Thar’s coal mines to Port Qasim, is on track for completion by December 2025.¹ ² This project, overseen by the federal and Sindh governments, will improve coal transportation efficiency and boost the energy sector’s growth. In addition, Pakistan is also investing in a $500 million, 1,000MW Battery Storage Initiative in the south to harness wind…

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China’s Two Sessions and it’s impact on Pakistan-China relations

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Pakistan-China relations

Pakistan views China’s Two Sessions —the annual gatherings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC)—as a pivotal event for the future of bilateral cooperation. These sessions provide Pakistan with key insights into China’s economic, regional and global priorities, which directly have the positive impact on the trajectory of the China-Pakistan relationship, especially within the context of the China-Pakistan Economic Corridor (CPEC). Each Two Sessions meeting concentrates on three main strategic priorities that China aims to achieve: economic growth, social harmony and international strategic…

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Saudi Arabia may lower April oil prices for Asia

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Oil prices

SINGAPORE: Top oil exporter Saudi Arabia may slightly cut its crude prices for Asian buyers in April, tracking the marginal decline in benchmark prices this month, traders said on Friday. The April official selling price (OSP) for flagship Arab Light crude may decline by 20 cents to 65 cents a barrel from March, four Asian refining sources said in a Reuters survey. That suggests the April Arab Light price could come at a premium of about $3.25-3.70 a barrel to the average of the benchmark Oman and Dubai prices, down…

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