Category: Highlights

Pakistan is yet to reach an agreement with Saudi Arabia on revival of the oil facility on deferred payment months after the claim of minister for information and broadcasting and finance minister. When contacted, senior officials of Finance Ministry and Power Division stated that discussions with Saudi Arabia are on, but nothing has been finalized yet. However, officials expressed optimism that negotiations would be fruitful and an agreement with Saudi Arabia would be reached soon. An official of finance ministry said that Pakistan was currently utilizing International Islamic Trade Finance…

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ABU DHABI, (UrduPoint / Pakistan Point News / WAM – 07th Aug, 2021) In line with its commitment to adopting the best practices of the UAE Government Excellence System, and launching initiatives that have global results, the Ministry of Energy and Infrastructure in the UAE has launched the ‘Supporting our Blue Army’ initiative to improve the quality of life for seafarers while they are in the UAE. The initiative protects seafarers’ rights with ship owners and operating companies, as well as helps seafarers overcome the challenges they face as a…

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Last week, the media was abuzz about SAPM on power and petroleum Tabish Gauhar’s letter that he addressed to his minister Hammad Azhar. The gist of the ‘leaked’ letter and any spirit of debate were lost in the media hype created around the differences within energy ministry or largely within the government. But we often forget that difference of opinion is a democratic norm and a healthy debate can only lead to advancement. Secondly, the kind of mess the energy sector is in, it cannot be solved without challenging the…

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Pakistan has decided to terminate 23 bilateral investment treaties (BITs) with different countries in order to avoid international arbitration with foreign firms on commercial contracts. To date, as many as 10 cases had been lodged by foreign investors in different international arbitral forums, thus exposing the state of Pakistan to billions of dollars in compensation. There are nine other bilateral investment treaties. However, those nine treaties could be terminated or reformed by engaging the respective countries bilaterally. Pakistan mulled over an option of taking up these nine treaties with the…

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Pakistan can achieve significant gains by moving towards decarbonisation of its energy sector, said Regional Vice President of the World Bank Group for South Asian Region Hartwig Schafer. “Glad to know that climate change is a top priority for the government,” said Schafer in a tweet post after his meeting with Special Assistant to the Prime Minister on Climate Change Malik Amin Aslam. Schafer said that although Pakistan remains a low emitter of greenhouse gas emissions at the global scale, “it can achieve significant economic gains by focusing on decarbonisation…

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