Gunvor Group Chairman Torbjorn Tornqvist and Total Energies Vice President Mehmet Celepoglu met with Prime Minister Shehbaz Sharif on Monday to explore potential investments in Pakistan's energy sector. During the meeting, the prime minister highlighted that the country's economy had stabilised and was now on a path of growth and development. He highlighted ongoing reforms aimed at boosting
Pakistan is set to formally request Qatar to reduce its liquefied natural gas (LNG) supplies in a bid to relieve pressure on gas utilities, as the country's power sector has shown reluctance to lift its allocated gas volumes. Currently, Pakistan imports 10 LNG cargoes per month under contractual agreements, with Pakistan State Oil (PSO) importing nine cargoes from Qatar and one from the Italian fi
As the government continues to struggle in maintaining discipline across its departments, the Civil Aviation Authority (CAA) has approached the Supreme Court of Pakistan in a tax dispute exceeding Rs50 billion against the tax authorities. The CAA, which oversees Pakistan's aviation industry, filed a civil petition for leave to appeal despite the Sindh High Court's directive to resolve the inter
The Asian Development Bank (ADB) has assured Pakistan of providing $2 billion annually in new loans, as Islamabad seeks half of the amount on concessional terms amid government's inability to get cheaper credit due to its worsened ratings. The assurance to provide $2 billion per annum has been given by the visiting ADB president Masatsugu Asakawa during his interaction with Pakistani authoritie
Continuing its upward momentum from last week, the equity market opened on a positive note on Monday, buoyed by a favourable economic outlook due to rising exports and surging remittances. The KSE-100 index, the benchmark for the Pakistan Stock Exchange (PSX), started the day with bullish sentiment, peaking early in the session. However, profit-taking in the latter half of the day pulled the i