ISLAMABAD: Pakistan LNG Limited has invited international suppliers to bid for three liquefied natural gas cargoes in its first spot tender since December 2023, as the country scrambles to address acute energy shortfalls triggered by the US-Israeli war on Iran and a resulting blockade of the Strait of Hormuz.
Economy
Pakistan advances one-window airport system with e-gates to slash wait times
ISLAMABAD: The government is advancing plans for a unified “one-window” clearance system at its airports, combining immigration, security and customs checks into a single process powered by e-gates and advanced scanners in an effort to cut passenger wait times and ease chronic congestion.
Pakistan probes Discos for costly off-grid power purchases, orders immediate halt
ISLAMABAD: The government said on Wednesday it has uncovered purchases of electricity by state-owned distribution companies at rates well above the national tariff, made outside the national grid in violation of economic merit-order rules amid widespread complaints about expensive power and prolonged loadshedding.
Pakistan targets 30 percent electric-vehicle shift in five years to save $4.5 billion on fuel imports
ISLAMABAD: The government plans to convert 30% of the country’s vehicles to electric power within the next five years, a push that officials say will deliver fuel-import savings of as much as $4.5 billion and help ease chronic pressure on the economy.
Pakistan seeks fixed underwriting teams for eurobonds, sukuk and rupee-dollar bonds to smooth external borrowing
ISLAMABAD: The government moved to institutionalise its access to international capital markets on Tuesday, soliciting proposals from global banks to act as underwriters and lead managers for all its foreign-currency debt issuance over the next three years.
Pakistan gets second Saudi deposit tranche of $1 billion
KARACHI: Pakistan’s central bank received $1 billion from Saudi Arabia on Monday, the second installment of a fresh $3 billion deposit designed to cushion the country’s foreign-exchange reserves as it navigates more than $3.5 billion in debt repayments to Gulf allies and international bondholders this month.
Azerbaijan’s SOCAR poised for quick LNG deliveries to Pakistan under 2025 framework pact
ISLAMABAD: Azerbaijan’s state energy company SOCAR has told Islamabad it is prepared to supply liquefied natural gas immediately upon request, the company said Tuesday, as Pakistan races to secure spot cargoes to ease a widening domestic energy shortfall.
Pakistan upsizes Eurobond to $750 million on stronger-than-expected demand
ISLAMABAD: Pakistan expanded its latest Eurobond offering to $750 million from an initial $500 million by exercising the greenshoe option, the government said on Monday, as robust investor demand allowed it to tap additional funds at the same terms.
Pakistan in advanced talks with Qatar for at least four LNG cargoes as Hormuz disruptions threaten summer power supply
ISLAMABAD: Pakistan and Qatar are in advanced discussions for the supply of at least four cargoes of liquefied natural gas that would have to pass through the Strait of Hormuz, people familiar with the matter told Dawn newspaper.
FM Aurangzeb pushes mineral, energy cooperation in US Treasury talks at IMF meetings
ISLAMABAD: Finance Minister Muhammad Aurangzeb held a productive meeting with Francis Brooke, deputy secretary at the US Department of the Treasury, on the sidelines of the World Bank-IMF Spring Meetings, where the two sides explored avenues for cooperation in the mineral and energy sectors as well as strengthening the anti-money laundering and countering the financing of terrorism framework.