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The International Monetary Fund (IMF) said on Thursday that its mission will visit Islamabad at the end of this month to continue discussions under the ninth Extended Fund Facility (EFF) review. “At the request of the authorities, an in-person Fund mission is scheduled to visit Islamabad January 31–February 9,” IMF Resident Representative in Pakistan Esther Pérez Ruiz told Business Recorder via message. “The mission will focus on policies to restore domestic and external sustainability, including to strengthen the fiscal position with durable and high quality measures while supporting the vulnerable and those…

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During the meeting, the two sides reviewed the historical UAE-Pakistan ties and opportunities for enhancing joint cooperation in a way that serves the mutual benefit of both countries and their peoples across various domains. The leaders discussed enhancing cooperation, especially in the fields of economy, trade and development in line with the two countries’ sustainability objectives. They also discussed several issues of common interest and exchanged views on a number of regional and international issues of mutual concern. For his part, Prime Minister reaffirmed his country’s pride in the historical…

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K-Electric (KE) has proposed three structures for its participation in the second unit of Jamshoro coal power plant (2×600 MW), saying that the development of the project can be fast-tracked by structuring the transaction under G2G framework with Saudi Arabia. In a letter to Power Minister Khurram Dastgir Khan, CEO KE Syed Moonis Abdullah Alvi shared the outcome of the recently held meetings of the Prime Minister’s Task Force (PMTF) headed by former Prime Minister, Shahid Khaqan Abbasi, wherein it was decided that supply from National Grid to KE would…

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Eni said on Wednesday that the delivery of a liquefied natural gas (LNG) cargo to Pakistan LNG Limited that was scheduled for February has been disrupted due to an event of force majeure. The Italian major has a 15-year deal to supply Pakistan LNG with one cargo a month from 2017 to 2032. “February LNG delivery disruption is beyond the reasonable control of ENI and due to an event of force majeure. ENI does not benefit in any way from the situation,” said the company in a statement to Reuters. “All…

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The Economic Coordination Committee (ECC) of the Cabinet is all set to approve the pact between Pakistan LNG Limited (PLL) and Azerbaijani company, M/s SOCAR/ SOCAR Trading, for import of one LNG cargo monthly, official sources told Business Recorder. Pakistan State Oil (PSO) and Pakistan LNG Limited (PLL) are importing Liquefied Natural Gas (LNG) under long-term LNG supply contracts to minimise gap in demand and supply of gas under three pacts. The first long-term agreement had been signed by PSO with Qatar Gas in 2015 at 13.37 per cent of price…

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