Author: Admin

Barrick’s Gold Reserves Surge with Reko Diq Expansion

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Reko-Diq

BENGALURU: Canadian mining giant Barrick Gold reported a 23% increase in its proven and probable gold reserves, reaching 17.4 million ounces by the end of 2024. The surge was primarily driven by the company’s Reko Diq copper-gold project in Pakistan. Following the completion of its feasibility study at Reko Diq, Barrick added 13 million ounces of gold to its probable reserves on an attributable basis. The company holds a 50% stake in the project, while the remaining ownership is shared by the governments of Pakistan and Balochistan. Considered one of…

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Time to Act: Experts Call for Climate Finance Reforms

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Climate-Finance1

ISLAMABAD: Climate and finance experts have urged comprehensive reforms in both public and private sectors to mobilize crucial funding for climate action, particularly for adaptation measures. Speaking at DawnMedia’s Breathe Pakistan International Climate Change Conference, World Bank Global Director for Climate Change, Valerie Hickey, stressed the need for subsidy reforms to unlock climate finance. She highlighted that while $1 billion per day is needed to combat desertification, $2 billion per day is spent on counterproductive agricultural subsidies. Globally, subsidies in energy, agriculture, and fisheries amount to $1.5 trillion, necessitating urgent…

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Pakistan, Turkiye Set to Sign MoUs to Boost Economic, Agricultural Ties

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Pak-Turk

ISLAMABAD: Pakistan and Turkiye are poised to strengthen economic cooperation with multiple memoranda of understanding (MoUs), particularly in the agriculture sector, during President Tayyip Erdogan’s upcoming visit to Pakistan. Senior officials from both countries’ ministries of national food security and agriculture met on Wednesday to draft an action plan for future collaborations in agriculture and livestock. Pakistan invited Turkiye to invest in livestock vaccination, citing its vast population of 220 million animals, while Turkiye pledged full support in enhancing Pakistan’s agricultural production. President Erdogan is scheduled to visit Pakistan on…

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Pakistan’s First-Ever ‘Made in Pakistan’ Expo Opens in Jeddah

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Pak-Exhibition

ISLAMABAD: Commerce Minister Jam Kamal Khan on Thursday inaugurated the first-ever ‘Made in Pakistan’ exhibition in Jeddah, marking a milestone in Pakistan-Saudi trade relations. Addressing an audience of Saudi officials, business leaders, and diplomats, the minister emphasized the importance of strengthening economic ties and showcasing Pakistan’s diverse industrial capabilities. According to the Ministry of Commerce, the exhibition features Pakistan’s top-quality products and services, including textiles, sports goods, light engineering, food, and construction materials. Minister Khan expressed gratitude to Saudi Arabia for its support in organizing the event, calling it a…

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Petroleum Minister Advocates Mixed Pricing to Prevent Sectoral Bankruptcy

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musadik-malik

ISLAMABAD: Petroleum Minister Dr. Musadik Malik has warned of potential “isolated bankruptcies” in the petroleum sector unless a weighted average price mechanism is introduced for imported, piped, and wellhead gas. He emphasized that rationalizing electricity rates would encourage a transition in transport, cooking, and heating sectors. Speaking before the National Assembly’s Standing Committee on Petroleum, Dr. Malik criticized the PTI government for contracting additional liquefied natural gas (LNG) cargoes despite declining demand and enforcing a shift of industrial captive power plants (CPPs) to the national grid, a commitment the current…

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