Author: Admin

Pakistan’s Gains from Shanghai Cooperation Organisation (SCO) Membership: A Comprehensive Overview

Admin
SCO-Project

Since becoming a full member of the Shanghai Cooperation Organisation (SCO) on June 9, 2017, Pakistan has reaped significant benefits across multiple sectors, particularly in trade, security, and regional diplomacy. Pakistan’s involvement in the SCO has strengthened its trade potential, enhanced security cooperation, and bolstered its geopolitical standing within Central Asia. In terms of trade, Pakistan’s exchange with SCO members, particularly China, has flourished. Bilateral trade with China reached over $27 billion annually, fueled by initiatives such as the China-Pakistan Economic Corridor (CPEC) and the Belt and Road Initiative (BRI).…

Read More

Restrictions Hamper Progress on Dasu Hydropower Project: World Bank Cites Transportation Challenges

Admin
Dasu-Hydropower

ISLAMABAD: The World Bank has reported significant slowdowns in the 4,320 MW Dasu Hydropower Project due to restrictions on ground transportation for international workers and experts from Islamabad to the project site, as well as a shortage of armored vehicles for their movement within the project area. A recent World Bank mission to Pakistan noted that while construction is ongoing, security and logistical challenges have hindered progress. The March 2024 terrorist attack, which led to a temporary suspension of work by Chinese contractors, exacerbated the delays. Key milestones, such as…

Read More

Chinese Firm to Invest $1 Billion in PRL Upgrade, Doubling Refinery Output

Admin
PRL-Project

A Chinese investment corporation has committed $1 billion to Pakistan Refinery Limited (PRL) for a major upgrade aimed at doubling its production capacity. The agreement, however, comes with a condition: the Chinese firm seeks full independence from government control, ensuring that PRL repays the investment in dollars without any government intervention. Currently, Pakistan’s State Bank allows the private sector, including refineries, to retain dollars for investment. However, the Chinese company has urged for the removal of such controls to facilitate the smooth repayment of the loan. The firm emphasized that…

Read More

IEA Predicts ‘Age of Electricity’ as Fossil Fuel Demand Set to Peak by 2030

Admin
clean-energy

The world is rapidly transitioning toward a future dominated by low-emission energy sources, with more than half of global electricity expected to come from clean energy by 2030, according to the International Energy Agency’s (IEA) latest World Energy Outlook report. The IEA projects that demand for oil, gas, and coal will peak by the decade’s end, potentially leaving an excess of fossil fuel resources. “We’ve experienced the Age of Coal and the Age of Oil,” said IEA Executive Director Fatih Birol. “Now, we are speeding into the Age of Electricity,…

Read More

SCO Backs China’s Belt & Road Initiative Amid Diverging Views on Regional Security

Admin
New-SCO

PM Shehbaz chairs summit; eight key documents on bloc’s budget, secretariat, and counterterrorism efforts signedSCO members reject Western sanctions, call for the use of national currencies in tradeJoint communique urges closer cooperation in politics, security, and the establishment of an SCO Development BankIndia expresses concerns over cross-border terrorism, affecting trade and connectivity effortsISLAMABAD: Leaders of the Shanghai Cooperation Organisation (SCO) on Wednesday reaffirmed their unwavering support for China’s Belt and Road Initiative (BRI) despite India’s objections, which blocked a full consensus on the project. The meeting, chaired by Prime Minister…

Read More