Category: Latest News

ISLAMABAD: Pakistan is seeking a $6.7 billion concessional oil financing facility from Saudi Arabia to strengthen its energy security and ease pressure on foreign exchange reserves amid rising global oil prices triggered by renewed tensions in the Middle East. According to official sources, the proposed facility is being negotiated at a 1% interest rate with a 15-year repayment period, including a five-year grace period. The request has been discussed at the ministerial level, while both governments continue consultations on the proposal. A spokesperson for the Ministry of Economic Affairs confirmed…

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ISLAMABAD: Pakistan and other climate-vulnerable nations will have to wait longer for financial support from the Fund for Responding to Loss and Damage (FRLD) after its board postponed funding approvals to allow more time for evaluating an overwhelming number of project proposals against limited available resources. The decision was taken during the 9th FRLD Board meeting, held in Manila from July 8 to 10, where members agreed to defer grant approvals until December 2026. The delay drew criticism from civil society organisations, which warned that frontline communities facing increasing climate-related…

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Karachi: The Dutch Ambassador to Pakistan, H.E. Robert-Jan Seigert, visited the headquarters of Friesland Campina Engro Pakistan Limited (FCEPL), where he met with the company’s leadership to discuss the future of Pakistan’s dairy industry, investment opportunities, and the role of local talent in driving sustainable sectoral growth. During the meeting, FCEPL’s leadership presented an overview of the company’s performance, strategic initiatives, and future growth plans. Discussions focused on the evolving landscape of Pakistan’s dairy sector, its potential for modernization, and opportunities to strengthen the country’s dairy value chain through innovation,…

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ISLAMABAD: The federal government has approved a Technical Supplementary Grant (TSG) of Rs10 billion as budgetary cover for the Thar Coal Rail Connectivity Project, a key initiative aimed at transporting indigenous Thar coal to power plants and major industrial consumers across Pakistan. The project is being implemented by the Ministry of Railways (MoR) in collaboration with the Government of Sindh under a Memorandum of Understanding (MoU) and a Joint Venture (JV) Agreement. It was previously approved by the Executive Committee of the National Economic Council (ECNEC) under the Public Sector…

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ISLAMABAD: Pakistan’s largest Chinese-operated copper and gold mining project has warned that worsening security conditions in Balochistan could force it to suspend operations within a month if disruptions to the transportation of essential supplies continue. According to a Financial Times report, Saindak Metals Limited (SML) has informed the Ministry of Energy that the deteriorating law and order situation in the province has severely affected the movement of critical project cargo. In a letter to the ministry, the company’s managing director warned that continued logistical disruptions could make uninterrupted operations at…

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