Category: Highlights

The government is confident in getting a positive nod from the International Monetary Fund’s (IMF) on 7th review as it addressed in details the fund’s concerns on the Prime Minister’s relief package, finance minister said on Wednesday.\ “The IMF mission raised concerns over PM’s Relief Package on petrol, diesel and electricity prices as well as on tax amnesty for industrial sector but we explained them all aspects properly in details,” Tarin said talking to The News on the government’s parley’s with IMF. “Now the IMF team will come back with…

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The Chinese yuan reversed earlier declines and jumped toward its highs of the day following a report by Dow Jones that Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in the currency. The offshore yuan climbed as much as 0.1% to 6.3867 per dollar, close to the session peak it reached during Asian trading. The currency had weakened as much as 0.3% in U.S. trading before the report on Saudi Arabia. While the U.S. dollar is the preeminent currency of exchange…

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The upstream oil and gas sector in Pakistan has been a constant contributor to the total foreign direct investment coming into the country. However, the share of the E&P sector in total FDI has been erratic and declining from an average of 34 percent between FY12-FY15 to 6 percent in FY18 and 13 percent in FY21. While one would like to assume that the country’s reliance on fossil fuels has declined, key factors that have resulted in slowdown in investor interest have been the depleting oil and gas reserves and…

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Japan aims to reduce its dependency on Russian energy supply by taking steps, including LNG investments outside Russia, as it mulls its response to the Sakhalin and Arctic LNG 2 projects following the recent G7 leaders’ commitment, Minister of Economy, Trade and Industry Koichi Hagiuda said March 15. “We aim to reduce our dependency on Russian energy by securing alternative supply sources outside Russia by LNG investments among other steps,” Hagiuda told a press conference. Japan also intends to work on renewables and nuclear power in a bid to further…

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US/EU and Russia are fighting and Economic War which is global. This war is focused on Fossil fuels which Pakistan is a net importer. We are heavily dependent on imported energy Oil Gas and Coal. Pakistan need energy plan based on economic and strategic considerations at earliest. Possible Solutions: 1- We need to rationalize the Natural Gas Prices. (Full cost recovery model) 2- The narrative of natural gas as a bridge fuel for energy transition is no more valid as Russian tanks have destroyed the bridge. Even EU will move…

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