Author: Admin

CM Murad Secures Rs. 8bn for K-IV Project, Demands 50 MGD More Water for Karachi

Admin
CM-Murad

KARACHI (Nov 26) – Sindh Chief Minister Syed Murad Ali Shah, in a high-level meeting with WAPDA Chairman Lt Gen (R) Sajjad Ghani at the CM House, stressed the urgent need to allocate an additional 50 MGD of water from the Hub Dam to address Karachi’s growing demand. The meeting, attended by Local Government Minister Saeed Ghani, Irrigation Minister Jam Khan Shoro, Mayor Karachi Murtaza Wahab, and senior officials, also reviewed progress on critical projects, including the K-IV Greater Karachi Bulk Water Supply Scheme and the Right Bank Outfall Drain…

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Pakistan Forms Negotiation Body for Reko Diq Stake Sale to Saudi Arabia

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Reko-Diq

ISLAMABAD: Pakistan has established a negotiation committee to finalize the sale of a 15% stake in the Reko Diq copper and gold mining project to Saudi Arabia’s Public Investment Fund (PIF). The committee will review the price discovery mechanism prepared by international advisors, assess the Saudi offer, and draft a commercial agreement. The Cabinet Committee on International Governmental Commercial Transactions approved the panel’s formation, granting it authority to negotiate cash offers and reimbursement of cash calls made by Pakistan Minerals Private Limited (PMPL). Additionally, Saudi Arabia has pledged a $150…

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Oil Prices Slide $2 Amid Reports of Mideast Ceasefire

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Oil-Price

HOUSTON: Oil prices fell sharply on Monday, with Brent crude dropping $2.02 (2.69%) to $73.15 per barrel and US West Texas Intermediate (WTI) declining $2.08 (2.92%) to $69.16, following reports of a potential ceasefire deal between Israel and Lebanon. Unnamed US officials indicated progress in ending the Israel-Hezbollah conflict, though Israeli and Lebanese leaders expressed cautious optimism, citing unresolved issues and mutual distrust. Market analysts attributed the price decline to reduced geopolitical risk. UBS’s Giovanni Staunovo noted that no oil supply disruptions had occurred, and the conflict carried minimal risk…

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Fuel Supply Crisis Looms Amid Lockdown Disruptions

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petroleum-products

ISLAMABAD: A severe fuel supply disruption has emerged as the lockdown imposed to counter the PTI march on the federal capital has crippled the transportation of petroleum products, particularly in Punjab and Islamabad. Government barricades on highways, motorways, and city roads have hampered the movement of oil tankers, forcing many to offload at the nearest pumps to mitigate safety risks. Private companies have also reduced fleet deployment, heightening the supply chain breakdown. Fuel shortages are already hitting major economic hubs, including Lahore, Rawalpindi, and Islamabad, as retail pumps run dry.…

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Pakistan, Belarus Forge Stronger Trade Ties with Eight MoUs

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Pakistan-Belarus

ISLAMABAD: Pakistan and Belarus signed eight Memorandums of Understanding (MoUs) and agreements on Monday, opening new avenues for collaboration in various sectors and boosting bilateral trade potential. The signing ceremony took place during the Pakistan-Belarus Business Forum, co-chaired by Commerce Minister Jam Kamal and Belarusian Energy Minister Aleksei Kushnarenko. These agreements precede the arrival of Belarus’s President in Islamabad. The MoUs include a five-year partnership between JCS Bellakt and Nutrifood & Pharmaceuticals and a product supply agreement between JSC Minsk Motor Plant and Shahzad Trade Links, effective in 2025. Agreements…

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