Author: Admin

Eyes on SCO & CPECHigh-Profile B2B Delegation Engages FPCCI

Admin
SCO-CPEC

Karachi: Atif Ikram Sheikh, President FPCCI, has apprised that a high-profile delegation of The China Asia Economic Development Association (CAEDA) has visited FPCCI to explore investment, joint ventures and trade opportunities in mines & mineral; information technology and IT-enabled services (ITeS); agriculture & livestock; food processing & storage; infrastructure development and renewable & alternative energy sources. Mr. Atif Ikram Sheikh explained that next phase of China – Pakistan Economic Corridor (CPEC) and Shanghai Cooperation Organization (SCO) can be the real game-changers for the national economy – as we have geographical…

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Chinese PM Li Qiang in Pakistan on four-day visit

Admin
Chinese-PM

A red carpet welcome was accorded to Chinese Premier Li Qiang on arrival in Islamabad today for a four-day visit to Pakistan. Prime Minister Shehbaz Sharif received the Chinese Premier at Nur Khan Airbase. A twenty-one-gun salute was presented to the visiting dignitary as he alighted from the plane. This is the first visit of any Chinese Premier to Pakistan after eleven years. Prime Minister Shehbaz Sharif and the Chinese Premier will hold a meeting to be followed by delegation level talks. They will also attend signing ceremony of Memorandum…

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Fuel Prices Set for Significant Hike Starting October 16

Admin
Petroleum-prices

ISLAMABAD: Consumers may experience a sharp rise in fuel prices, with high-speed diesel (HSD) potentially increasing by up to Rs10.25 per liter starting October 16, 2024. Preliminary estimates suggest petrol prices could increase by Rs3.95 per liter, kerosene oil by Rs7.85 per liter, and light diesel oil (LDO) by Rs8.33 per liter. Pakistan State Oil (PSO) is finalizing a working paper, which will be submitted to the Oil and Gas Regulatory Authority (OGRA) on October 15. Following OGRA’s review, the government will give final approval, with the Finance Ministry expected…

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Govt to Split NTDC into Two Separate Entities Amid Performance Concerns

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NTDC-House

ISLAMABAD: In response to the ongoing inefficiencies and mismanagement at the National Transmission and Despatch Company (NTDC), the federal government has decided to divide the entity into two distinct companies: National Grid Company Projects (Projects) and National Grid Company Assets (NGC Assets), sources revealed. NTDC, which has faced repeated criticism for outdated processes, corruption allegations, and delays in project execution, was originally formed in 1998 following the unbundling of WAPDA. The company is responsible for constructing and maintaining Pakistan’s transmission network, including 220KV and 500KV grid stations, and has expanded…

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Govt Halts Payments to 18 IPPs Ahead of Negotiations for Contract Revisions

Admin
Govt-Halts

ISLAMABAD: The government has temporarily suspended payments to 18 Independent Power Producers (IPPs), totaling a capacity of 4,267 megawatts (MW), as it prepares to renegotiate their Power Purchase Agreements (PPAs). These power plants, established under Pakistan’s Power Generation Policies of 1994 and 2002, were initially contracted under a “take-or-pay” model. The upcoming discussions aim to transition their contracts to a “take-and-pay” basis for a two-year period, during which the Competitive Trading Bilateral Contract Market (CTBCM) is expected to become fully operational. The decision to halt payments comes without a clear…

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