Karachi: In a bold move that has sparked an outcry among rights activists and environmentalists, the Sindh Government has inaugurated the partially constructed Malir Expressway, igniting fears of severe ecological damage and community displacement.Prominent figures in climate advocacy—including Hafeez Baloch from the Sindh Indigenous Rights Alliance, Yasir Hussain, Director of the Climate Action Center, and Advocate Abeera Ashfaq—have voiced their serious apprehensions regarding the project. They argue that for over four years, the expressway’s impact on the fragile Malir Riverbed and the surrounding communities has been downplayed, despite rising environmental…
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Ahmed Hayat Lak Reappointed as MD & CEO of OGDCL for 3 Term
The Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) firm, has reappointed Ahmed Hayat Lak as Managing Director and Chief Executive Officer (MD & CEO) for a three-year term. The announcement was shared via a notice to the Pakistan Stock Exchange (PSX) on Thursday. “This is to inform that the Board of Directors of the company has appointed Ahmed Hayat Lak as the Managing Director/CEO of the company for a term of three years, effective from January 9, 2025,” the notice stated. Previously, in February…
Read MorePakistani Minister Engages Korean Investors Amid Project Challenges
ISLAMABAD: Korean investors have raised concerns with Pakistani Commerce Minister Jam Kamal Khan regarding delays and issues affecting development projects in Pakistan during his visit to South Korea. Executive Director UM Sung-Yong of the EDC Operation Group at Korea Eximbank outlined the status of ongoing projects, detailing processes of approval, scrutiny, and execution. He acknowledged the efficient handling of projects by Pakistani departments but emphasized the need for expedited approvals to enhance progress. Korea Eximbank has allocated $1.1 billion under the Economic Development Cooperation Fund (EDCF) for Pakistan for 2022–2026.…
Read MoreChina becomes 2nd-largest EV battery power with 30-million-ton lithium
China has significantly increased its lithium reserves, positioning itself as the world’s second-largest holder of the critical metal for electric vehicle (EV) batteries and renewable energy technology. According to state news agency Xinhua, China’s global lithium share has risen from 6% to 16.5%, surpassing countries like Australia, Argentina, and Bolivia. The only nation ahead of China in lithium reserves is Chile. This surge in reserves is attributed to new discoveries and advanced extraction technologies that allow for more efficient retrieval of lithium from various mineral sources. A major discovery was…
Read MoreSaudi crude oil supply to China set to fall in Feb vs Jan, sources say
SINGAPORE: Saudi Arabia’s crude oil supply to China is set to decline in February from the prior month, trade sources said on Thursday, after the kingdom hiked its official selling prices to Asia for the first time in three months. State oil firm Saudi Aramco will ship about 43.5 million barrels in February to China, a tally of allocations to Chinese refiners showed, down from January’s 46 million barrels, a three-month high. China’s state majors CNOOC and PetroChina and private refiner Hengli Petrochemical will be lifting less crude in February,…
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