Category: Latest News

NEW DELHI: QatarEnergy has issued a spot tender offering up to 50,000 metric tonnes of naphtha on a free-on-board (FOB) basis from Ras Laffan port inside the Strait of Hormuz, according to multiple traders familiar with the market. The cargo is scheduled for loading between October 20 and 25, with bidders required to submit their offers by 1100 GMT on Thursday. The tender comes amid heightened disruption and uncertainty in the Strait of Hormuz, a key global energy shipping route. A naphtha trader familiar with QatarEnergy’s tenders said the company’s…

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KARACHI: Sindh Local Government Minister Syed Nasir Hussain Shah on Thursday chaired a meeting with a delegation of Chinese investors to explore investment opportunities in Karachi, particularly in modern firefighting systems, machinery, desalination plants and other urban infrastructure projects. Special Assistant to the Chief Minister on Investment Qasim Naveed Qamar, Karachi Mayor Murtaza Wahab, Sindh Local Government Secretary Wasim Shamshad, Chief Executive Officer of the Karachi Water and Sewerage Corporation (KW&SC), and other relevant officials attended the meeting. During the meeting, the Chinese investors expressed keen interest in investing in…

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ISLAMABAD: The government is expediting measures to improve regulatory predictability and is considering political risk guarantees from multilateral agencies to address investor concerns and attract bidders for the privatisation of power distribution companies (Discos). Informed sources said prospective local and foreign investors currently conducting due diligence on the first batch of Discos had raised concerns over contract sanctity following the reopening of independent power producers’ (IPPs) agreements and recent legal developments involving K-Electric. Potential bidders have sought binding legal guarantees, clearer financial risk allocation and safeguards against the reopening of…

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ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement (SLA) on the fourth review of the $7 billion Extended Fund Facility (EFF) and the third review of the $1.4 billion Resilience and Sustainability Facility (RSF), paving the way for Pakistan to receive around $1.2 billion from the Fund. The agreement, reached on Thursday following talks between the two sides, remains subject to approval by the IMF Executive Board. Once approved, Pakistan will receive approximately $1 billion under the EFF and $210 million under the RSF, taking…

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KARACHI: Pakistan State Oil (PSO) reduced its trade receivables by Rs22.7 billion to Rs414.8 billion in FY26, mainly due to a decline in outstanding amounts owed by government entities, helping the state-owned oil company lower its finance costs by 24 per cent despite continued liquidity pressures. According to PSO’s FY26 annual report, trade receivables stood at Rs414.8 billion at the end of the financial year, compared with Rs437.5 billion in FY25. Net receivables from SNGPL, GENCOs and PIA Holding Company stood at Rs357.5 billion. SNGPL remained the largest contributor, with…

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