Engro Corporation proudly announces the appointment of Mr. Ahsan Zafar Syed as its 5th President and CEO, marking a new era of leadership for the company. Mr. Syed, who joined Engro in 1991 as a young engineer, brings over three decades of invaluable experience in operations, project management, and strategic leadership across multiple sectors. During his tenure, Mr. Syed has…
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During the ‘7th Leaders In Islamabad Summit’, power sector experts and leaders, including the CEO of K-Electric and the Minister of Energy, Awais Leghari, shared their views on the future of the energy sector in Pakistan. Mr. Moonis Alvi, CEO of K-Electric, said, “Pakistan’s power sector is poised for a significant transformation, with privatization being the way forward to eliminate the circular debt.”
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Pakistan has emerged as the fifth-largest recipient of loans and grants from the Asian Development Bank (ADB), receiving a total disbursement of $1.8 billion in 2023. When factoring in co-financing, the disbursement figure rises to $2.353 billion for the same period, according to the ADB’s annual report for 2023 released recently. The report highlighted Pakistan’s significant role in receiving ADB…
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Pakistan is making a case for a US waiver regarding the Iran-Pakistan (IP) gas pipeline to address its pressing energy requirements and avoid potential penalties amounting to $18 billion if Iran opts for arbitration through a France-based mechanism. In a letter addressed to President Joseph R. Biden, an energy and water consultant and adviser to the Centre for Research and…
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During President Ebrahim Raisi’s visit to Pakistan, both countries emphasized enhancing economic cooperation and addressing regional challenges. The visit resulted in a joint statement outlining key areas of collaboration and mutual understanding. One significant outcome is the commitment to expedite the Free Trade Agreement (FTA) between Pakistan and Iran, highlighting the importance of economic integration and trade facilitation. Additionally, cooperation…
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Karachi, April 24, 2024: The National Electric Power Regulatory Authority (NEPRA) has given decision on the utility’s Transmission & Distribution Investment Plan till FY 2030 which will catalyze the company’s efforts to reduce losses in transmission and distribution, drive growth in its customer base, and bolster the power utility’s infrastructure to meet current demands and future needs.
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Prime Minister Shehbaz Sharif, after listening to the grievances highlighted by the Karachi Chamber, immediately directed all the relevant Federal Ministers and Secretaries to hold meeting with KCCI so that the issues being faced by business community could be extensively discussed to agree upon solutions whereas he himself would personally review the outcome of discussions and, accordingly, announce relief on 1st May.
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During the meeting, the Prime Minister instructed Planning Minister Ahsan Iqbal, Finance Minister Mohammad Aurangzeb, and the Secretary of Communication to hold meetings with the Sindh Chief Minister or his team to resolve all the pending issues as a matter of priority. He further stated that he was here [in the Sindh CM House] to resolve all the lingering issues, so that developmental projects could move forward, and financial issues could be resolved. To show his commitment, he announced that the provincial government would receive 150 buses to add to its fleet.
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Iranian President Dr Seyyed Ebrahim Raisi expressed readiness to enhance energy cooperation with Pakistan during his visit to the country. Commending Pakistan’s stance on the Gaza situation, President Raisi highlighted the enduring bond between the two nations. Speaking at the mausoleum of Allama Dr Muhammad Iqbal, President Raisi emphasized the role of poetry in strengthening bilateral relations. He praised Allama…
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In a recent ceremony at Karachi Port, UAE Consul General Bakhit Atiq al-Rumithi pledged substantial investments in various sectors across Pakistan. Highlighting the UAE’s commitment to Pakistan’s development, Al-Rumithi emphasized plans for investments beyond ports, including railways, infrastructure, and other key areas. The ceremony marked the payment of $50 million to Karachi Port by Karachi Gateway Terminal (KGTL) under their…
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