Category: Shortcode

Asia Poised to Gain from Canadian and Mexican Oil Amid Potential US Tariffs

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Oil-Price

SINGAPORE: Canadian and Mexican oil producers may turn to Asia as a key market if US President-elect Donald Trump follows through on a proposed 25% tariff on crude imports from these countries. This move could force producers to cut prices and redirect supplies, analysts and traders suggest. Sources familiar with the plan indicate that crude oil would not be exempt from broader tariff hikes, despite warnings from the US oil industry about potential economic and security impacts. The United States currently absorbs 61% of Canadian and 56% of Mexican crude…

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Experts Call for Comprehensive Overhaul of Port Safety Ecosystem

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Karachi-Port

KARACHI: Ports and shipping experts have raised alarms over the inadequate safety and security systems at Pakistan’s ports, highlighting the urgent need to address maritime safety, environmental protection, law enforcement, and national defence. Their concerns were amplified following a fire at Pakistan International Bulk Terminal Limited (PIBTL) at Port Qasim, caused by the discharge of combustible Tanzanian-origin coal. While the fire was swiftly controlled without injuries, the incident has triggered calls for stronger safety protocols. Experts revealed that prolonged delays due to such mishaps could result in millions of dollars…

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Sindh Opposes Private Gas Sale Framework: Warns of Rs243 Billion Consumer Burden

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Gas-Project

ISLAMABAD: The Sindh government has firmly opposed a proposed framework allowing gas exploration companies to sell 35% of local gas to private parties, cautioning that this could impose an additional Rs243 billion burden on residential consumers over the next five years. During the Executive Committee of the National Economic Council (ECNEC) meeting, chaired by Deputy Prime Minister Ishaq Dar, Sindh representatives argued that the decision would prioritize private parties over domestic consumers, violating constitutional provisions. They contended that the Council of Common Interest’s (CCI) directive to meet overall demand before…

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October FCA: CPPA-G Proposes Rs2.6 Billion Refund for Power Consumers

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Power-sector

ISLAMABAD – The Central Power Purchasing Agency-Guaranteed (CPPA-G) has proposed refunding Rs 2.6 billion to power Distribution Companies (Discos) consumers for October 2024 under the monthly Fuel Charges Adjustment (FCA) mechanism. During a public hearing chaired by NEPRA Chairman Waseem Mukhtar, CPPA-G representative Naveed Qaisar revealed that the FCA variation for October was recorded at Rs 9.2583 per unit, compared to the reference rate of Rs 10.2752 per unit. This indicates a reduction of Rs 1.0159 per unit, resulting in a financial impact of Rs 10.14 billion. Qaisar explained that…

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2,300 Chinese Companies Driving Investment in Pakistan: PCJCCI Vice President

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New-PCJCCI

LAHORE – Zafar Iqbal, Vice President of the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI), revealed during a meeting with the executive body that approximately 2,300 Chinese companies are actively operating in Pakistan. These companies, ranging from small to large-scale enterprises, are investing across diverse sectors, including the China-Pakistan Economic Corridor (CPEC). Expanding Investment HorizonsIqbal highlighted Chinese interest in key sectors such as electronics, automotive, education exchange programs, insurance, agriculture, textiles, chemicals, real estate, and battery recycling. He emphasized that these collaborations could boost Pakistan’s industrial capabilities and…

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