The Private Power and Infrastructure Board (PPIB) has announced a significant achievement with the successful completion of the Reliability Run Test (RRT) for the 884MW Suki Kinari Hydropower Project, a key component of the China-Pakistan Economic Corridor (CPEC). Developed with an investment of $1.7 billion, this project represents a major step forward for Pakistan's renewable energy sector, expected to generate approximately 3 billion units of clean power annually. While the RRT was completed between September 6 and September 13, 2024, the project’s inauguration, initially set for September 12, 2024, is likely to be delayed until the Commercial Operation Date (COD) is confirmed. This precaution ensures that the project is fully operational before its official launch, aligning with Pakistan’s commitment to sustainable energy development.
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Successful Completion Of the Reliability Run Test For Suki Kinari Hydropower
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$380 million investment in Pakistan's Agriculture Sector
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International Innovation Park Limited EPZ and China National Cereals, Oils and Foodstuffs Corporation (COFCO) have signed a landmark agreement valued at over $380 million to enhance collaboration in Pakistan's agriculture sector. This partnership is seen as a major milestone for the country, promoting joint efforts between Chinese and Pakistani firms to boost product development. The deal highlights the positive impact of initiatives such as the China-Pakistan Economic Corridor (CPEC) and the China-Pakistan Free Trade Agreement (CPFTA). CPFTA facilitates duty-free access for numerous Pakistani products, enhancing bilateral trade and cooperation not only with China but also with major markets like the European Union and the United Kingdom. This agreement is a significant step forward in strengthening Pakistan's agricultural capabilities and fostering economic growth.
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The recent Pakistan Investment Conference held during the China International Fair for Trade in Services (CIFTIS) emphasized the untapped potential for future economic collaboration between Pakistan and China. This strategic partnership is underscored by a new Memorandum of Understanding (MoU) aimed at enhancing cooperation in the textile sector. The agreement focuses on the digital transformation and optimization of supply chains for 200 textile factories in Pakistan, marking a significant step toward modernizing the industry. CIFTIS has proven to be a vital platform for fostering financial cooperation, with discussions centered on attracting investment to Pakistan. As one participant noted, the fair offers a unique opportunity to explore collaborative ventures that can drive mutual growth and stability in the global financial landscape. This ongoing dialogue reaffirms the commitment of both nations to strengthen their economic ties and leverage each other's strengths for future development.
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Digital Transformation and Supply Chains Optimization of Textile Factories in Pakistan
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Advanced Technologies Integration in Pakistan’s Blue Economy
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At the International Maritime Business and Finance Conference, Pakistan's blue economy was highlighted as a crucial driver of national growth, showcasing opportunities in fisheries, maritime trade, and offshore resource exploration, including petroleum and gas. Efforts are underway to modernize Pakistan's fisheries and shipbreaking industries through the Special Investment Facilitation Council (SIFC), which aims to integrate advanced technologies. The government has also eliminated sales tax on fisheries processing plants and seeds to stimulate sector growth. Emphasizing the global significance of oceans—supporting 85% of global trade—the speaker referred to the Arabian Sea as Pakistan's fifth neighbor, underlining its strategic importance for trade, coastal tourism, aquaculture, biotechnology, energy, and health. Pakistan is working to transform its ports into regional and international trade hubs, focusing on green trans-shipment efficiency and environmental protection within the maritime sector. The government is actively seeking support from the International Maritime Organization (IMO) to address the challenges posed by climate change, particularly in the transition to low-carbon alternative fuels and the establishment of green corridors. Pakistan's potential in trade, shipbuilding, and recycling was emphasized, along with the necessity of digitalization to enhance port safety and efficiency. The invitation to participate in future IMO projects related to safety and environmental protection reflects Pakistan's commitment to sustainable maritime development.
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The Trade Corporation of Pakistan is set to facilitate an agreement between the Pakistan Sugar Mills Association and Tajikistan’s State Reserve Material Reserve for the import of 40,000 metric tons of sugar from Pakistan. This initiative reflects ongoing efforts to promote mutual interests and enhance bilateral trade and investment. The Economic Coordination Committee (ECC) of the Cabinet has approved the export, marking a significant step in strengthening economic ties. Both parties have agreed to establish a joint working group to further promote bilateral trade relations, particularly in edible goods. Additionally, they plan to develop storage facilities along the border and implement measures to facilitate trade. Pakistan is prepared to assist Tajikistan in meeting its edible goods requirements, underscoring the commitment to fostering trade and investment relations between the two countries. This partnership aims to enhance trade and also to create opportunities for economic cooperation in the region.
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Export of 40,000 MT Sugar from Pakistan
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Pakistan to reduce LNG import from Qatar
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Pakistan is preparing to request Qatar to reduce its liquefied natural gas (LNG) supplies in response to decreased demand from the country's power sector. Currently, Pakistan imports ten LNG cargoes each month, with nine coming from Qatar and one from the Italian firm ENI. However, the power sector has been reluctant to lift its full allocation of gas, citing lower electricity demand driven by two main factors: rising electricity tariffs and a shift towards solar energy among consumers. In light of this situation, Sui Northern Gas Pipeline Limited (SNGPL) has advised Pakistan State Oil (PSO) to defer three LNG cargoes each month, reducing PSO's imports to six cargoes. This adjustment is the declining demand for gas and aims to alleviate pressure on gas utilities in the country.
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Pakistan’s Oil and Gas Development Company has signed a Memorandum of Understanding (MoU) with the Chinese company CCDC to explore shale and tight gas potential in Pakistan. The signing took place at the 8th Silk Road International Expo for Investment and Trade Forum in Xi'an, Shaanxi province, China. This MoU highlights the commitment of both countries to harness indigenous energy resources, aiming to alleviate Pakistan's energy needs. The agreement is a step toward strengthening cooperation between Pakistan and China across the energy sector, benefiting both nations. The two countries have also agreed to enhance cooperation in various fields, including counter-terrorism, cross-border collaboration, and anti-smuggling, reflecting a broader partnership that extends beyond energy to include security and trade.
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Exploration Shale and Tight Gas Potential in Pakistan
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Asian Development Bank on Guarantee Reko DIQ
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The Reko Diq project is progressing with several key developments and milestones that need to be achieved by December 2024. The Asian Development Bank (ADB) is expected to approve the third-party guarantee arrangement for the Reko Diq project in February 2025. The Weir Group has secured a £53 million order for the copper-gold project, indicating strong interest and investment in the project. The project company has finalized credit enhancement arrangements with lending parties, which addresses the State-Owned Enterprise (SOE) creditworthiness, facilitating project financing. The approval of the Environmental Impact Assessment (EIA) and Social Assessment (SA) is critical for the timely financial close of the project. The company is scheduled to submit the ESIA this month, with an aim for approval by December 2024. It is essential for the company to keep updated and work closely with the chief secretaries of Balochistan and Sindh to ensure timely approvals of the ESIA. The railway network is a vital component of the Track Access Agreement between Pakistan Railways and the Reko Diq Mining Company, underscoring the project's reliance on infrastructure for effective operation. These elements are the importance of meeting deadlines and maintaining communication with stakeholders to ensure the successful advancement of the Reko Diq project.
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The recent signing of a memorandum of understanding (MoU) between the Sichuan Provincial Academy of Natural Resource Sciences and the University of Swabi marks an important milestone in enhancing Sino-Pak cooperation in kiwifruit cultivation. Pakistan's favorable climate, fertile soil, and abundant water resources create an optimal environment for kiwifruit growth, particularly in regions with moderate temperatures and sufficient rainfall. Pakistan's location offers easy access to key markets in the Middle East, Central Asia, and Europe, enhancing its competitive edge in the global kiwifruit market. The rising global demand for kiwifruit, combined with a large agricultural workforce, presents significant opportunities for the industry. By implementing advanced Chinese practices in various areas, such as germplasm collection, variety breeding, and pest control, can significantly boost local production. Chinese expertise in developing resilient kiwifruit varieties could help Pakistan tackle challenges like climate variability, water scarcity, and pest issues. The BRI presents an opportunity for agricultural collaboration, enabling Pakistan to scale up production and potentially export kiwifruit to Chinese markets. This collaboration has the immense potential of Pakistan’s kiwifruit industry and also underscores the benefits of international partnerships in agricultural development.
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Sino-Pak Cooperation in kiwifruit Production in Pakistan
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Pakistan and Belarus: MoU on Trade Road Map 2025-27
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Pakistan and Belarus have reached a principal agreement to sign a Memorandum of Understanding (MoU) on a Trade Road Map for 2025-27, paving the way for enhanced economic cooperation. This partnership aims to leverage each country's strengths and foster mutual growth, highlighting a shared vision for economic development. The MoU aims to outline strategies for expanding trade and fostering joint ventures in various sectors, including technology, agriculture, industry, and pharmaceuticals. Additional MoUs are expected to be finalized during the upcoming visit of the Belarusian President to Pakistan. Belarus will help establish a framework for multiple sectors to support economic growth. Both countries have explored opportunities in the production of EV buses, and significant work has been undertaken in common interest areas, including agriculture, trade, science and technology, communication, banking, agri-manufacturing, education, and health. Both nations are focused on reinforcing their economic ties and enhancing collaboration across various sectors. Pakistan has invited Belarusian investors to explore opportunities through the Special Investment Facilitation Council (SIFC), promising a secure investment environment. Pakistan emphasized the benefits of Belarusian agricultural technology, particularly for its agriculture-dependent economy.
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Pakistan and Turkmenistan are on the verge of signing a significant Memorandum of Understanding (MoU) that will allow Turkmenistan to access Gwadar Port under the China-Pakistan Economic Corridor (CPEC) framework. This marks a pivotal moment as Turkmenistan becomes the first Central Asian nation to secure such access through CPEC. Facilitated by the Special Investment Facilitation Council (SIFC), the agreement aims to enhance regional and international cooperation in the movement of goods and containers, capitalizing on the capabilities of both nations’ ports. This initiative is part of broader collaborative efforts, including the TAPI pipeline and various connectivity projects designed to link South and Central Asia. To prepare for this agreement, the Pakistani government has established a committee to review the draft between Gwadar and Turkmenbashi ports. The development of Gwadar Port is expected to create jobs, boost economic growth, and attract foreign investment by improving regional connectivity. High-level governmental efforts, backed by SIFC, aim to position Gwadar as a global trade hub. The implementation of CPEC projects is poised to foster economic stability and strengthen trade relations in the region.
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Turkmenistan Access to Gwadar Port Under CPEC
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Detection of Hydrocarbon Reserves From of akhiro-1 well in Sindh
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Oil and Gas Development Company Limited (OGDCL) has announced a significant hydrocarbon discovery at the Akhiro-1 well in the Lower Gour B Reservoir Sand, located in Khairpur district, Sindh Province. This discovery is part of the Sawan South Joint Venture, which includes OGDCL, United Energy Pakistan Limited (UEPL), Government Holding Private Limited (GHPL), and Sindh Energy Holding Limited (SEHL). The well was spudded on June 15, 2024, and has been successfully drilled to a depth of 12,442 feet. It was tested at an impressive rate of approximately 10 million Standard Cubic Feet per Day (MMSCFD) of gas, using a choke size of 24/64” at a Wellhead Flowing Pressure (WHFP) of 4000 Pounds per Square Inch (Psig). This discovery enhances the country’s energy security through the utilization of indigenous resources and also adds to the hydrocarbon reserves base. It is a crucial step in the ongoing efforts to explore and mitigate risks associated with further hydrocarbon potential in the Sawan South Block.
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Pakistan aims to establish a direct trade route to Tajikistan and enhance road access to Central Asian countries, leveraging key corridors that involve China and Afghanistan. The route includes the Karakoram Highway, Khunjerab Pass, and connections to Kashgar, Murghab, and Dushanbe, facilitating two-way trade. To strengthen bilateral trade with Central Asian countries, initiatives will focus on promoting mutual cooperation and joint business ventures. The four countries have also agreed to advance the Traffic and Transit Agreement to enhance progress on mutual agreements, aiming to streamline trade and improve regional connectivity. At the Global Transport Forum in Beijing, enhancing communication and cooperation among Asian nations has been stressed and highlighted the persistent challenges faced by truckers and drivers traveling to Tajikistan, emphasizing the importance of collaborative efforts to overcome these obstacles and improve trade logistics in the region.
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Launch of Direct Trade Route from Pakistan to Tajikistan
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