Category: Highlights

Pakistan Ranks 5th in ADB Loans and Grants, Receives $1.8 Billion Disbursement in 2023

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Asian-bank

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 support, particularly in addressing food insecurity and climate resilience challenges. The ADB is actively involved in various projects across Pakistan, ranging from agricultural productivity improvements and food security enhancements in…

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Pakistan Appeals for US Waiver on IP Gas Pipeline Amid Energy Needs

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iran-gas-pipeline

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 Security Studies (CRSS), Arshad H. Abbasi, underscored Pakistan’s strategic alignment with the US historically, particularly during significant global events such as the USSR invasion of Afghanistan. However, Abbasi pointed out…

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Pakistan and Iran to Strengthen Economic and Energy Ties, Emphasize Regional Stability

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Pak-Iran

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 in the energy sector, including trade in electricity, power transmission lines, and the IP gas pipeline project, was reaffirmed, underscoring the shared interest in energy security and sustainability. Furthermore, both…

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NEPRA GIVES DECISION ON KE’S 7-YEAR INVESTMENT ROADMAP

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KE’S- 7-YEAR- INVESTMENT-ROADMAP

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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PM MEETS KCCI DELEGATION Federal Ministers/ Secretaries directed to hold further discussions, PM to personally review outcome on May 1

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KCCI-Delegation

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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