Category: Shortcode

Pakistan, UAE sign ‘historic’ MoUs worth ‘multi-billion dollars’

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Pak-UAE

Pakistan and the United Arab Emirates on Monday signed memorandums of understanding (MoU) pertaining to investment cooperation that will unlock “multi-billion dollars” in funding from the Mideast state. The development came in a meeting between caretaker Prime Minister Anwaarul Haq Kakar and UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi during the former’s week-long trip to the Middle East. The Prime Minister’s Office (PMO) said the MoUs in the sectors of energy, port operations, wastewater treatment, food security, logistics, minerals, and banking and financial services will unlock “multi-billion dollars…

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Pakistan LNG awards tender to OQ Trading

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lng-1

ISLAMABAD: State-run Pakistan LNG Ltd (PLL) on Monday awarded a contract to OQ Trading —an Oman subsidy — to deliver an LNG cargo in the second week of January at a post-bidding negotiated price of $17.95 per million British thermal unit (mmBtu) to minimise peak winter gas shortage. Earlier, the PLL had received four international bids against its urgent tender. OQ Trading was the lowest at $18.46 per unit, for the supply of a liquefied natural gas (LNG) cargo. On the other hand, however, Azerbaijan’s state run Socar separately offered…

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Irfan Mirza elected as new WWEA President

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Irfan-Mirza

Peter Rae resigns after eight years as President Irfan Mirza elected as new WWEA President Bonn, 27 November 2023 (WWEA) – After heading the World Wind Energy Association for eight years, Peter Rae announced on the occasion of the WWEC2023 in Hobart his resignation as WWEA President. The WWEA Board elected unanimously Dr. Irfan Mirza as new WWEA President. Dr. Irfan Mirza is one of the first promoters for renewable energy in Pakistan, e.g. as one of the leading person of the Alternative Energy Development Board of Pakistan. Subsequently he became involved…

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PM reaches UAE, to sign MoUs on investment

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Anwaarul-Haq

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Sunday embarked on a bilateral visit to the United Arab Emirates. During the visit on Nov 26-28, the prime minister will meet the President of the UAE Sheikh Mohamed bin Zayed, the PM Office Media Wing said in a press release. “This engagement will provide an opportunity to advance bilateral ties in all spheres including political, economic, trade, investment, cultural, defence and people-to-people relations,” the Foreign Office spokesperson said in an earlier press statement. The visit will include the signing of MoUs between…

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OMAP urges ministry, Ogra to reconsider proposed weekly adjustments

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oil-and-gas

LAHORE: Chairman Oil Marketing Association of Pakistan (OMAP) Tariq Wazir Ali on Sunday appealed to the Ministry of Petroleum and Oil and Gas Regulatory Authority (OGRA) to reconsider the proposed option of shifting from fortnightly to weekly fuel price adjustments. In a statement issued here, Tariq Wazir Ali said that OMAP believes that such a move will have severe and detrimental consequences for the already beleaguered Oil Marketing Companies (OMCs) in Pakistan. He also said that current economic landscape, marked by lifeline margins, substantial FX losses, a PSO-benchmarked pricing formula,…

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