Category: Latest News

Sindh–World Bank Partnership Central to Reform, Recovery Agenda: CM Murad

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murad-ali

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Wednesday said that the partnership between the Sindh government and the World Bank (WB) remains central to the province’s reform and recovery agenda, stressing the need for faster implementation, stronger outcomes and visible impact for citizens. He was chairing a detailed, sector-wise review meeting with a 10-member World Bank delegation led by Country Director Bolormaa Amgaabazar, which called on the chief minister to assess progress on ongoing projects. The meeting was attended by provincial ministers Nasir Shah, Sardar Shah, Jam Khan…

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US Extends Waiver Allowing Oil Sales From Russia’s Sakhalin-2 Project Until June 18

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New-LNG

WASHINGTON: The United States has extended a waiver permitting oil sales from Russia’s Sakhalin-2 energy project until June 18 next year, a move that is expected to allow continued production and export of liquefied natural gas (LNG) from the project. The general license, issued on Wednesday by the US Treasury Department, provides an exemption from sanctions imposed on Sakhalin-2 in 2022 following Russia’s full-scale invasion of Ukraine. The waiver is particularly significant for Japan, a key US ally, which sources around 9% of its LNG imports from Russia. Japan relies…

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CPHGC Seeks Power Division Support for Permanent IFRS-9 ECL Exemption

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China-Power

ISLAMABAD: China Power Hub Generation Company (Pvt) Ltd (CPHGC) has requested the Power Division’s support to secure a permanent exemption from the application of the Expected Credit Loss (ECL) method under IFRS-9, citing the power sector’s chronic circular debt as the primary justification. In a letter addressed to the Power Division, CPHGC’s Head of Finance referred to the Securities and Exchange Commission of Pakistan (SECP) notification issued on September 13, 2021 (SRO 1177(I)/2021), which granted an exemption from the ECL method for companies holding financial assets due from the Government…

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Federal Minister Power Division Awais Khan Leghari has sought ADB’s support in addressing power sector debt repayment challenges, and in building confidence among private investors.

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New-Project52-1

Federal Minister for Power, Sardar Awais Ahmed Khan Leghari, met with a delegation of the Asian Development Bank (ADB) led by Ms. Leah Gutierrez, Director General, Central and West Asia Department. The Minister welcomed the ADB delegation and thanked them for their visit. Ms. Leah Gutierrez shared that this was her first visit to Pakistan in her current role and appreciated the opportunity to engage with the Power Division. The Minister briefed the delegation on key challenges facing the power sector, highlighting constraints in financing, issues related to rupee cover,…

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OGDC Clinches 40th Corporate Excellence Award 2025

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New-Project93

Karachi, December 17, 2025: Oil and Gas Development Company Limited (OGDC) has been honored with the prestigious Corporate Excellence Award 2025 in the Oil and Gas Exploration category for the second consecutive year. Organized by the Management Association of Pakistan (MAP), the award recognizes OGDC’s exemplary management practices and steadfast commitment to operational excellence. The award was received by Mr. Ahsan Shaikh, General Manager Incharge (Production), at a ceremony held in Karachi. The event was graced by Mr. Saeed Ghani, Provincial Minister of Sindh for Local Government, who presented the…

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