Category: Latest News

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday reaffirmed the government’s commitment to comprehensive *power sector reforms, emphasizing that curbing *circular debt and ensuring long-term energy sustainability remain high priorities. Chairing a high-level meeting on *gas supply and consumption, the prime minister was briefed on a *long-term strategy for stabilizing the gas sector. He expressed optimism that ongoing reforms, particularly in the natural gas domain, would play a critical role in gradually reducing and ultimately eliminating the sector’s persistent circular debt. Sharif welcomed the establishment of new exploration blocks aimed at…

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ISLAMABAD: Business sentiment in Pakistan has turned positive, with the Business Confidence Index (BCI) rising 16 percentage points to *+11%, up from *-5%* in the previous wave, according to the latest survey by the *Overseas Investors Chamber of Commerce and Industry (OICCI). The *Wave 27 BCI Survey, conducted in **March-April 2025, reflects growing optimism across the country’s key sectors. The *manufacturing sector led the rebound, improving from *-3% to +15%, followed by the **retail/wholesale sector, which climbed from *-18% to +2%*, while the *services sector rose from +2% to +10%.…

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Federal Minister for Petroleum Ali Pervaiz Malik was called on by the Ambassador of Azerbaijan to Pakistan, H.E Khazar Farhadov, at the Ministry of Petroleum today. The discussions centered on strengthening bilateral relations particularly in the energy sector and exploring new avenues for economic cooperation. Minister Ali Pervaiz Malik expressed gratitude for Azerbaijan’s steadfast support to Pakistan in recent conflict with India, reaffirming the deep-rooted brotherly ties between the two nations. He underscored that Prime Minister Shehbaz Sharif greatly values the Azerbaijan’s solidarity with Pakistan. Azerbaijan has always stood behind…

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A high-level delegation from Deloitte Advisory US, led by Richard Longstaff , met with the Federal Minister for Petroleum, Ali Pervaiz Malik, at the Ministry of Petroleum in Islamabad today. The meeting focused on strengthening collaboration and exploring avenues of cooperation to benefit from the strategic advisory services for Pakistan’s energy sector. The discussions centered on key challenges and opportunities within Pakistan’s oil, gas, minerals and gemstone industries, with an emphasis on enhancing operational efficiency, mitigating risks, and fostering sustainable growth. The Deloitte delegation shared insights on global best practices…

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A comprehensive study by Boston University’s Institute for Global Sustainability reveals that solar photovoltaic (PV) projects pose the lowest financial risk among global energy infrastructure builds, while nuclear power ranks as the most cost-intensive and delayed. Analyzing 662 projects across 83 countries from 1936 to 2024, with a total investment of \$1.358 trillion, researchers found that more than 60% of projects exceeded their initial construction budgets. On average, energy infrastructure builds took 40% longer than planned—equating to roughly two years of delay. Nuclear projects led in cost overruns, exceeding estimates…

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