Author: Faiza Liaquat

Significant progress has been made in securing a cost-effective oil supply from Russia, as Pakistan has recently entered a long-term oil procurement agreement with Moscow. Under this arrangement, local refineries will directly source oil from Russia, with deliveries to occur at a Pakistani port. The agreed-upon price for this oil is set at $60 per barrel, and the first shipment, consisting of 100,000 metric tonnes of crude oil, is scheduled for arrival in Pakistan this coming December. Moreover, government-level negotiations are anticipated to follow as regular supplies commence. Notably, this commercial agreement takes into account the G7 price ceiling for…

The city of Mardan in Khyber Pakhtunkhwa, Pakistan, achieved a significant milestone this Wednesday when it was declared a loadshedding-free city as part of the “Zero-Theft, Zero-Loadshedding” initiative introduced by the Power Division. Mardan, which previously suffered from power outages lasting over six hours a day, became the first city in Pakistan to completely eliminate power theft. Rashid Langrial, the Secretary of the Power Division, unveiled “The Mardan Model” in Islamabad, marking the end of loadshedding in the city. This achievement is credited to the successful elimination of power theft and significant improvements in revenue collection. Langrial emphasized that a…

The Pakistan Cotton Ginner’s Association (PCGA) recently released their latest biweekly report, showing a substantial 19.3% increase in cotton arrivals in Pakistan as of October 15 when compared to the figures reported on September 30. The report disclosed that the total cotton arrivals in Pakistan have reached 5.996 million bales, a significant uptick from the 5.025 million bales registered at the end of September 2023, indicating a growth of 0.971 million bales. When we compare these current figures to those of the previous year, cotton arrivals have surged by almost 62% from the 3.708 million bales recorded on October 15,…

The United Energy Group of China and Pakistan Refinery Limited have signed a Memorandum of Understanding, indicating a significant $1.5 billion investment in the petroleum sector. Caretaker Prime Minister Anwaar-ul-Haq Kakar and Federal Energy Minister Muhammad Ali witnessed the ceremony. Under this agreement, the investment’s objective is to boost the refinery’s petrol production capacity from 250,000 metric tons to 1.6 million metric tons and high-speed diesel from 0.6 million metric tons to 2 million metric tons. This expanded production of petrol and high-speed diesel is anticipated to provide a cost-effective alternative to the expensive imported fuel.

The depreciation of the US dollar relative to the Pakistani Rupee has had a significant impact on the cost of solar panels in various Pakistani cities. This shift is primarily due to the favorable exchange rate, making renewable energy options more cost-effective for consumers. For instance, in Karachi, the price of a 165-watt solar panel has dropped from Rs15,000 to Rs5,000, with similar price reductions seen for 260-watt and 550-watt panels. This decrease in prices isn’t limited to Karachi alone but extends to other cities like Islamabad, Multan, Faisalabad, and Quetta. A key factor contributing to this price drop was…

Pakistan conducted a successful test of the Ababeel weapon system, according to the Inter-Services Public Relations (ISPR). The test aimed to re-validate design aspects, technical parameters, and the performance of sub-systems within the ballistic missile system. ISPR underlined that the Ababeel system is intended to enhance deterrence and support regional strategic stability, in line with Pakistan’s broader strategy of maintaining credible minimum deterrence and full spectrum deterrence. The launch was witnessed by Chairman Joint Chiefs of Staff Committee (CJCSC) General Sahir Shamshad Mirza, senior officials from the Strategic Plans Division and Strategic Forces Command, as well as scientists and engineers…

The boisterous and passionate crowd at Jinnah Stadium during the Pakistan-Cambodia World Cup qualifying match dispelled any doubts about the fans’ support for football and their eagerness to witness the national team’s advancement. More than 13,000 fans enthusiastically enjoyed an exciting game of football, staying engaged with the action until the very end. Noman Yousaf, a club footballer, expressed his sentiments, saying, “We have a deep love for football and are keen to see the Pakistan team progress rapidly. If the system is put in place, we could witness talent emerging from all corners,” as he shared his thoughts with…

During his speech at the Belt and Road Forum in Beijing, Interim Prime Minister Anwaar-ul-Haq Kakar highlighted Pakistan’s substantial progress within the China-Pakistan Economic Corridor (CPEC). He emphasized the completion of around 50 CPEC projects valued at nearly $25 billion, which have significantly improved Pakistan’s transportation infrastructure, including highways, railways, airports, seaports, and mass transit systems. Kakar also commended the substantial contributions of CPEC energy projects, which have added over 8,000 MW of new electricity to Pakistan’s national grid, with plans for an additional 10,000 MW of clean energy in the near future. He expressed Pakistan’s pride in its partnership…

On Wednesday, Pakistan and Japan officially inked an agreement valued at $5.3 million to facilitate the reconstruction of educational facilities in regions of Sindh affected by floods. The signing ceremony for the Exchange of Notes and Grant Agreement took place at the Economic Affairs Division. The Government of Japan has provided grant assistance totaling JPY 794 million, which equates to approximately $5.3 million, to the Government of Pakistan via JICA (Japan International Cooperation Agency). This grant is earmarked for addressing the challenges faced by the educational infrastructure due to the floods in 2022 and heavy monsoon rains in Sindh. Specifically,…

Pakistan and the United Arab Emirates (UAE) have solidified their commitment to advancing bilateral cooperation in the Information Technology sector, particularly in the domains of Artificial Intelligence and Digital Economy. This consensus emerged during a meeting between Dr. Umar Saif, the Caretaker Minister for Information Technology and Telecommunication of Pakistan, and Omar Sultan Al Olama, the UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications. The meeting transpired in Dubai as part of GITEX 2023. Dr. Umar Saif emphasized Pakistan’s substantial technological potential, underlining the large number of IT graduates produced by Pakistani universities and the…