Category: Highlights

Amid continued promises and claims for good omen, foreign direct investment landscape in Pakistan has been lackluster. While net FDI in 5MFY22 has increased by 12 percent year-on-year, the total tally of around $800 million is trivial. Total FDI inflows in 5MFY22 as per SBP’s recent data is actually down by over 9 percent year-on-year. Though FDI in Nov-21 turned positive from a negative net tally in Nov-20, it wasn’t anything inspiring. And FDI inflows in Nov-21 were down by 30 percent year-on-year. Lower inflows and higher outflows describe the…

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The government should treat wind and solar power as the main sources of power generation as hydrocarbons are actually the alternative means of power production in the country, says a Press release.This was stated by Prof Dr Nasim Akhtar Khan, former vice-chancellor of Hamdard University, while speaking at a seminar as its keynote speaker on solar energy here at a hotel organised by Goodwe Pakistan in partnership with Energy Update. Dr Nasim Akhtar, who is a pioneering figure in introducing the concept of clean electricity in Pakistan, said on the…

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Under one 20-year deal, CNOOC Gas & Power Group will take 2 million mt/year of LNG on a free-on-board basis from Venture Global’s proposed Plaquemines LNG facility that is planned to be built south of New Orleans. Under a second deal, which will last for a shorter duration that the companies did not disclose, state-owned CNOOC, or China National Offshore Oil Corp, will take 1.5 million mt/year of LNG from Venture Global’s Calcasieu Pass facility that is under construction in southwest Louisiana. Production could begin within weeks at Calcasieu Pass.…

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The Multan Chamber of Commerce and Industry has expressed serious concerns over discontinuation of gas supply to the industrial sector particularly to textile sector and demanded the government exempt the textile industry from gas loadshedding. The MCCI has urged the Prime Minister Imran Khan to intervene immediately to ensure supply of electricity and gas to textile mills and warned that if the sector was pushed against the wall and their genuine concerns were not addressed, workers and their families would take to the streets. Talking to reporters on Monday, MCCI…

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The International Monetary Fund (IMF) as well as other multilaterals has come under considerable criticism in recent months with respect to their harsh upfront monetary and fiscal policy conditions that have eroded Pakistan’s growth rate, raised unemployment levels, fuelled inflation through administered pricing of utilities and has contributed to a sustained erosion of the rupee against the dollar. Two observations are critical. First, Pakistan is currently on its 23rd IMF programme, with each programme typically of three-year duration, which implies the country has been on a Fund programme for around…

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