Category: Highlights

Foreign direct investment in Pakistan energy sector surges to $585.6mn in Q1FY25

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Power-sector

SBP reported a 48 percent increase in FDI, with inflows reaching $771 million in Q1FY25 Foreign direct investment (FDI) in Pakistan’s energy sector, including power and oil and gas exploration, reached $585.6 million during July-September 2024-25 (Q1FY25), a significant increase from $266.3 million in the same period last year (Q1FY24). The power sector remained the largest recipient, followed closely by financial services and oil and gas exploration, showcasing 119.9 percent growth over the first quarter compared to last fiscal year. The Overseas Investors Chamber of Commerce and Industry (OICCI) highlighted…

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Government Should announce Winter Package with Power Tariff at Rs. 20 / Unit for Export-Oriented Industries President FPCCI

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fpcci

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has urged the government to announce a comprehensive, effective and multi-sectoral winter package for trade and industry to mitigate and overcome challenges in industrial production. The industries are in a dire need of facilitation, incentivization and cost-cutting measures to meet export targets through competitiveness in the export markets, he added. Atif Ikram Sheikh apprised that the primary demand of FPCCI is Rs. 20 / kWh electricity tariff for export-oriented industries as, at the moment, the biggest contributor to the cost of production and…

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Trump Edges Harris in Key Swing States as GOP Secures Senate Majority

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Trump-Edges

WASHINGTON: Former President Donald Trump is leading Vice President Kamala Harris in the U.S. presidential election, securing pivotal wins in battleground states as he strengthens his bid for the White House. Trump’s successes in North Carolina, Arkansas, and South Carolina have propelled him to 230 electoral votes, compared to Harris’s 210. The Republican Party has also reclaimed control of the Senate, flipping seats in West Virginia and Ohio, previously held by Democrat-aligned incumbents. This shift grants the GOP a majority for the 119th Congress, with implications for policy direction over…

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Pakistan Confronts Climate Change Challenges at Sustainable Development Conference

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New-0002

ISLAMABAD: Acting President and Senate Chairman Syed Yousuf Raza Gilani highlighted Pakistan’s struggle with climate change, describing it as a significant obstacle to sustainable development. Speaking at the 27th Sustainable Development Conference (SDC), organized by the Sustainable Development Policy Institute (SDPI) with the Ministry of Climate Change, he emphasized Pakistan’s progress in climate governance. This year’s conference theme, “From Fragility to Resilience: Enhancing Sustainable Development,” set the stage for discussions on resilience, poverty alleviation, energy efficiency, and sustainable agriculture. Gilani commended Pakistan’s policy efforts in tackling climate resilience and sustainable…

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Russian oil and gas revenue jumps 57% m/m in October

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russain oil

MOSCOW: Proceeds from oil and gas sales for Russia’s federal budget in October jumped about 57% from September to 1.21 trillion roubles ($12.35 billion), finance ministry data showed on Tuesday, thanks to the once-a-quarter payment of profit-based oil tax. That’s against a forecast of 1.17 trillion roubles based on Reuters calculations, and down from 1.63 trillion roubles in October 2023. Oil and gas revenue has been the most important source of cash for the Kremlin, accounting for about a third to a half of total federal budget proceeds over the…

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