Category: Latest News

PPL Clarifies: No Artificial Island, Only Infrastructure for Marshy-Area Drilling Near Sujawal

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Pakistan Petroleum Limited (PPL) on Thursday issued a clarification stating that it is not reclaiming land from the sea to build an artificial island near Sujawal, as reported by Bloomberg. Instead, the state-owned company said it is developing essential infrastructure to enable safe drilling operations in an exceptionally challenging marshy terrain. In its statement, PPL termed the earlier media coverage “misleading,” explaining that the project’s technical scope had been misinterpreted. “The activities underway relate to enabling safe drilling operations in a challenging marshy environment, rather than the development of a…

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Sindh govt $75 million news projects to be approved by Asian Development Bank, says Murad Shah

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• CM, ADB country head discuss progress of development projects • Bottleneck removed to speed up BRT Redline project KARACHI (Nov 20): Sindh Chief Minister Syed Murad Ali Shah in his meeting with the Asian Development Bank (ADB) delegation led by Ms. Emma Fan, Country Director (ADB) Pakistan Resident Mission, review the progress of ADB-funded development projects in the province and discuss future cooperation in major sectors, including transport, infrastructure, urban development, and climate resilience.At the outset of the meeting, the Asian bank country head told the chief minister that…

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Pakistan Presses for Climate Financing in UNFCCC Review at COP30

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BELÉM: Secretary for Climate Change and Environmental Coordination Aisha Humera Chaudhry met UNFCCC Executive Secretary Simon Stiell on the sidelines of COP30 in Belem to review Pakistan’s updated climate commitments and urgent financing requirements, according to an official statement issued on Wednesday. During the high-level dialogue, both sides discussed Pakistan’s negotiation priorities and progress on climate reporting. Chaudhry noted that Pakistan submitted its Third Nationally Determined Contribution (NDC 3.0) in September 2025, outlining an enhanced mitigation pathway through 2035. She highlighted that Pakistan has increased its domestically financed mitigation share…

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Tech Innovation, Strategic Investment Vital for Pakistan’s Energy Security: Qaiser Ahmed Sheikh

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ISLAMABAD: Federal Minister for the Board of Investment Qaiser Ahmed Sheikh has said that embracing modern technology and attracting strategic investment are essential to securing Pakistan’s energy future. Speaking to the media after inaugurating the Pakistan Energy Exhibition & Conference 2025 (PEEC-2025) on Wednesday, the minister said Pakistan was entering a new era in energy policy, refining, and exploration—one that makes the country an increasingly attractive destination for both local and international investors. Sheikh reaffirmed the government’s commitment to strengthening the energy sector and expanding investment opportunities. He emphasised that…

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IMF Warns Pakistan Loses Up to 6.5% of GDP to Corruption; Elite Capture Stifling Growth

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ISLAMABAD: Pakistan is losing as much as 6.5% of its GDP to entrenched corruption and elite capture, the International Monetary Fund (IMF) said on Wednesday in a damning governance assessment released ahead of its executive board meeting for the approval of two loan tranches worth $1.2 billion. The Ministry of Finance published the long-delayed Governance and Corruption Diagnostics Report after withholding it for nearly three months. The IMF highlighted that the Rs5.3 trillion recovered from corruption-related assets between January 2023 and December 2024 represents only a “fraction” of Pakistan’s true…

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