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Articles for tag: decides, execute, Gas, Government, large, latest TAPI LPG pipelines, natural, projects

January 24, 2024

News Desk

The government decides to execute large natural gas projects

Islamabad: The top leadership has decided to go ahead with all major gas projects, including the Iran-Pakistan (IP) pipeline to meet the growing consumer demand in the future. Sources told The Express Tribune that the Directorate of Petroleum had conducted a study on the requirements and future demand for natural gas projects. The detailed study was commissioned to determine the current and projected natural gas supply from domestic and external sources such as imported liquefied natural gas (LPG), liquefied natural gas (LNG), Turkmenistan-Afghanistan-Pakistan-India (Tapi) pipeline and IP pipeline . . This preliminary study shows that considering current natural gas production

January 10, 2024

News Desk

A fund was established for investments in IT projects

Islamabad: The caretaker government has launched Pakistan’s first seed fund aimed at attracting investment in IT-related innovation projects. For this initiative, the government has allocated Rs 2 billion and will provide a subsidy of 30% per annum for start-ups. Acting Federal Minister for Information Technology and Telecommunication Dr Umar Saif launched the Pakistan Startup Fund at a ceremony on Tuesday. The fund aims to catalyze investment in Pakistan and position the country’s startups as major players on the global stage. The Ignite National Technology Fund will act as the executive agency to ensure transparency through an independent governing body charged

December 29, 2023

News Desk

SBP projects inflation to fall in the 20-22% range in FY24

SBP governor says to keep inflation expectations firm to meet medium-term target of 5-7% by 25 years People show their NICs to receive free bags of flour from a delivery truck at a distribution point in Lahore on March 20, 2023. — AFP SBP is committed to achieving the medium term target of 5-7% by the end of 25 years. The Consumer Price Index jumped to 29.2% in the 23rd year, the governor said. Fiscal, primary balances were lost by wide margins, he adds. State Bank of Pakistan (SBP) Governor Jameel Ahmed said on Friday that inflation would ease to

December 28, 2023

News Desk

The PCB seeks the Prime Minister’s nod for critical projects and decisions

The Pakistan Cricket Board (PCB) has prepared a list to seek approval from the Prime Minister for projects and decisions. The list includes a cost and salary report. According to details, in the past few days, the government has directed the PCB to seek the Prime Minister’s approval for important decisions, including PSL media rights and other competitions, putting all other issues on hold. Some decisions raised suspicions even within the management committee, leading to instructions to limit day-to-day affairs before some decisions were revealed. The board was asked to immediately inform all its directors of their ongoing projects so

December 3, 2023

News Desk

Foreign exchange reserves held by SBP to reach $9 billion by end of ongoing fiscal projects: IMF

IMF projections show remittances to decline by $3.5 billion to close at $29.377 billion by June 30, 2024 The International Monetary Fund logo outside its headquarters in Washington. — Reuters/File The IMF predicts that the external debt can be reduced to 123.556 billion dollars. The IMF says the oil import bill could rise by as much as $17.63 billion a year. It says remittances will fall by $3.5 billion and end at $29.37 billion. ISLAMABAD: The International Monetary Fund (IMF) has projected that the foreign exchange reserves held by the State Bank of Pakistan (SBP) will be $9 billion by

November 12, 2023

News Desk

Wind power projects in Thatta go online

BEIJING: All 12 wind power projects in Sindh’s Thatta district, with an installed capacity of 610 megawatts, have been connected to the national grid, China’s state-run Xinhua news agency said in a report on Thursday. According to the report, more than 100 wind turbines in Thatta district have been continuously delivering green energy to households in rural areas as part of the 3,000-km China-Pakistan Economic Corridor (CPEC) – a flagship project of China’s Belt and Road Initiative. and Road Initiative (BRI). “This is an important part of the wind power project portfolio. Currently, all 12 wind power projects, with a

November 12, 2023

News Desk

Projects face long delays

Islamabad: More than half of the $6.7 billion World Bank-financed portfolio of federal projects has been declared unsatisfactory or problematic by the lender, underscoring deep-rooted problems that have remained unresolved for years due to serious governance issues. The Ministry of Economic Affairs and the World Bank, Pakistan’s largest creditor, recently completed a review of $6.7 billion in loans for 20 projects. These programs are administered by the federal government. The details showed that only $2.9 billion worth of projects were on track, although some of them were also facing problems that required solutions. Progress on a large chunk of projects

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