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Articles for tag: Beneficial, china, Conditions, CPEC, Investment, Latest, US, USA

December 19, 2023

News Desk

Beneficial investment conditions in the USA

KARACHI: A senior United States official stressed that the US and Pakistan have a “very strong” relationship and have entered a new chapter of cooperation and development. In an interview with The Express Tribune, US Principal Deputy Assistant Secretary and Deputy Assistant Secretary for Pakistan, South and Central Asia Elizabeth Horst, during her visit to Pakistan last week, said “the relationship between the US- Pakistan right now is very powerful because it’s just about… the US and Pakistan together, not through a regional lens, not through any other lens.” Responding to a question on the challenges faced by US investors

December 17, 2023

News Desk

Investments in public debt hit a record

KARACHI: The parking of bank deposits in safe government bonds reached a new high of 92% in November 2023, leaving very little funding for the private sector, which has remained the engine of economic growth. According to the latest State Bank of Pakistan (SBP) data on deposits, investments and advances in commercial banks, banks lent Rs 24.58 trillion to the government through investments in securities such as bonds and Pakistan Investment Bonds (PIBs). Investment made up about 92% of total bank deposits of Rs 26.79 trillion by the end of November. Banks’ investment in government securities rose 33% over the

December 17, 2023

News Desk

The Council of Ministers explores international best practices

Islamabad: In response to past disputes and international legal challenges facing Pakistan, cabinet members are advocating for a comprehensive study of global best practices to instill confidence in investors about the safety of their investments in the country. The move comes in light of previous legal clashes between foreign companies and the Pakistani government, which arose after those companies were denied projects in the country following investigations by local anti-corruption agencies. A notable case is that of Reko Diq, which ended up in international courts, forcing Pakistan to seek out-of-court settlements to start work on the project and avoid multi-billion

December 7, 2023

News Desk

A Chinese company will buy 30% of the shares of PRL

Islamabad: State oil marketing company Pakistan State Oil (PSO) has agreed to sell its more than 30% stake in Pakistan Refinery Limited (PRL) to a Chinese firm in a bid to attract $1.5 billion in investment to double refining capacity. PRL, in which PSO is a major shareholder with a 63.6% stake, has signed an agreement with China’s United Energy Group (UEG) to embark on a transformational journey with plant expansion and upgrading. The Chinese company will invest $1.5 billion to increase PRL’s production capacity by 100%. Against this capital injection, PSO is likely to offer a 30-35% stake in

December 4, 2023

News Desk

PSX boom: An investment dilemma

KARACHI: Initial signs of excitement are evident in some business indicators. Indeed, the Pakistan Stock Exchange (PSX) is not a true representative of the country’s economic structure nor does it reflect the purchasing power of Pakistanis. However, hitting all-time highs has people worried about its sustainability, and rightly so. We have already discussed in detail that the rally is supported by improving investor expectations and attractive valuations. Remember, markets are forward-looking, so pundits no longer expect a credit default, are happy about the smooth assessment of the International Monetary Fund (IMF), and are optimistic about citizens’ determination for structural reforms

December 2, 2023

News Desk

E&P companies give poor response

Islamabad: The government has once again failed to attract domestic and foreign investors to pump capital into hydrocarbon blocks, as a chronic cyclical debt and bureaucratic hurdles hampered progress on plans to increase Pakistan’s oil and gas production. The government received a poor response in a recent round of tenders conducted to grant licenses to explore for potential hydrocarbon reserves in different locations. The Director General of Petroleum Concession (DGPC) had floated bids for 10 blocks but received bids for only six. Existing oil and gas exploration companies participated in the competition. Due to the war in Ukraine, international oil

November 30, 2023

News Desk

Pakistan seeks investment from Gulf countries in renewable energy

“Pakistan’s focus is transformation from coal-based power plants to renewable energy projects,” says PM Kakar Caretaker Prime Minister Anwaar-ul-Haq Kakar. — Radio Pakistan/Archive The Prime Minister emphasizes that the Loss and Damage Fund must be operational immediately. He says the use of the funds should not be linked to development funds. “Everyone knows who has contributed in the last century.” In an effort to address the issues of climate change, caretaker Prime Minister Anwaar-ul-Haq Kakar on Thursday stressed the need to immediately operationalize the Loss and Damage Fund and ensure its utilization. At the start of the COP28 summit, a

November 28, 2023

News Desk

UAE minerals giant eyeing Pakistani mining venture

KARACHI: The UAE’s largest supplier and importer of raw and value-added minerals, National Trust (NT), has entered into a memorandum of understanding (MoU) with a Pakistani company to develop a strategic partnership with an investment of AED 30 million to mine, acquire and process aluminum ores in Punjab and probably export it to the Middle East. In a filing to the Pakistan Stock Exchange (PSX), Kohinoor Spinning Mills Limited (KSML) announced the development on Monday, saying: “We are in serious discussions with interested parties based in the UAE and Pakistan to convert the company (fabrics) in mining and mineral technology

November 27, 2023

News Desk

Conditions for attracting sustainable foreign investment

KARACHI: The investment landscape in Pakistan is marred by a complex web of legal, transparency and bureaucratic challenges as well as weak democratic institutions. The mining lease for Reko Diq or the agreement with the independent power producers (IPPs) are just two examples that offer many valuable lessons. Attracting foreign investment is vital for the economic growth and development of emerging economies like Pakistan. To achieve this, it is important to create an environment that prioritizes strong treaty enforcement, the rule of law, transparency and democracy. These factors are critical in creating an atmosphere conducive to foreign investment and promoting

November 23, 2023

News Desk

NTDC’s investment plan was described as unrealistic

Islamabad: The National Electricity Regulatory Authority (Nepra) has raised serious questions over an investment plan submitted by the National Transmission and Dispatch Corporation (NTDC) as it appears “unrealistic” to address system constraints that have led to power outages in several times across the country. The power sector regulator pointed out that the blackout problem was mainly experienced in the southern parts of the country involving transmission lines, so investments should be planned and carried out in areas where there were restrictions on the system. However, the plan lacked investment proposals for the south. In a public hearing on Wednesday, the

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