Category: Highlights

Govt planning to borrow Rs1.25trn from banks to clear circular debt, says brokerage house

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Power-sector

In a key development for Pakistan’s power sector, the government was planning to borrow Rs1.25 trillion from the banking sector to retire the circular debt, stated brokerage house Topline Securities in a report on Friday. Pakistan circular debt crisis is a significant challenge for the country’s energy sector and its broader economy. The circular debt refers to the cascading cycle of non-payments throughout the energy supply chain. “As per our channel checks and various news reports, presidents of the different commercial banks attended a meeting in Islamabad yesterday (Thursday) to…

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Global LNG: Asian spot LNG price flat amid bearish Europe gas sentiment

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LNG

SINGAPORE: Asian spot liquefied natural gas (LNG) prices were flat this week, holding at a ten-week low amid Europe’s bearish gas price sentiment, though some emerging spot demand has curbed losses. The average LNG price for April delivery into northeast Asia <LNG-AS> was at $13.50 per million British thermal units (mmBtu), industry sources estimated. Asian LNG prices are bearish, driven by anticipated declines in the Dutch Title Transfer Facility (TTF) benchmark in Europe and stable Pacific supply, said Kpler analyst Go Katayama. “Looking ahead, Asian LNG prices are expected to…

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Pakistan appoints Bilal bin Saqib as chief crypto advisor

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crypto advisor

As Pakistan moves toward formalizing its stance on cryptocurrency, the government has appointed Bilal bin Saqib as the Chief Advisor to the Finance Minister for the Pakistan Crypto Council. The move comes as Pakistan seeks to reaffirm its commitment to embracing technological advancement while ensuring sound policy measures that support the national economy, digital transformation, and a secure, transparent financial system for all, read a statement released by the Finance Division on Wednesday. As per the statement, Saqib, recognized by Forbes, is a Web3 investor, strategic advisor, and thought leader in the…

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China to train, take Pakistani astronauts into space

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Pakistani astronauts

• Accord with Suparco aims to take Pakistanis to Beijing’s space station• PM hails ‘merit-based selection’ of new cabinet members ISLAMABAD: Pakistan will soon send its first manned mission to China’s space station, Prime Minister Shehbaz Sharif announced on Thursday. Pakistan’s Space and Upper Atmosphere Research Commission (Suparco) and the China Manned Space Agency (CMSA) have signed a cooperation agreement in this regard. Under the agreement, two Pakis­tani astronauts will undergo training at the Astronaut Centre of China. One of the astronauts will be trained as a scientific payload specialist for specialised…

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FM reiterates govt’s unwavering commitment to resolving taxation, energy issues

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FM-Aurangzeb-On-Economic-Digitization-696x342-1.webp

ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has reiterated the government’s unwavering commitment to resolving critical issues related to taxation, energy, and financing, as part of its efforts to ensure the long-term viability and future growth of Pakistan’s industrial sector. He made this statement during a meeting held today at the Finance Division with the leadership of the All Pakistan Textile Mills Association (APTMA). The meeting was attended by senior officials, including the Chairman of the Federal Board of Revenue (FBR), the Secretary of the Commerce Division,…

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