GMO Soybean Meal Import Policy
A committee has been formed to review concerns over the import of genetically modified soybean meal, according to a notification. The committee’s findings are anticipated to guide future GMO import policy with regulatory concerns. The committee has been appointed for reviewing, inspecting global best practices, and submitting recommendations. Federal government expressed concern over potential exposure to invasive pests and proposed to replace existing local biosecurity and biosafety procedures with foreign-issued to allow approvals of GMO food and feed imports based on international risk assessments. The infestation of invasive pests in imported GMO burdens the agriculture sector and affect export competitiveness.
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30-year Lease Extension of Engro Vopak Terminal at Port Qasim
The government has agreed to extend Engro Vopak Terminal Limited’s (EVTL) lease enabling company to continue its operations of a liquefied petroleum gas (LPG) and liquid chemical terminal at Port Qasim. The subjected land was allocated to EVTL in 1995, is set to expire in 2026 and the lease extension of 30-year has been finalized and is effective from June 2026. The terms include a build, operate, and transfer (BOT) arrangement, which would be non-exclusive, waiting for approval from the Ministry of Maritime Affairs. EVTL had followed the lease extension, mentioning an investment of $100 million in the project and its commitment to continuing development. The government has decided to proceed with the lease extension of EVTL.
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Pakistan, Turkiye Signed Landmark Agreement - Offshore Bidding Pact
Pakistan and Turkiye have signed to contribute cooperatively in Pakistan’s offshore bid round for oil and gas exploration. Turkiye Petrolleri Anonim Ortaklığı (TPAO) entered into a joint bidding agreement with Pakistani exploration and production (E&P) companies, Mari Energies Limited, Oil & Gas Development Company Limited (OGDCL), and Pakistan Petroleum Limited (PPL). The seismic studies stating potential of Pakistan’s offshore areas, indicating significant untapped reserves. Both countries have signed an agreement jointly bidding for offshore oil and gas exploration across 40 blocks located in the Makran and Indus basins for exploration licensing
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Digitize Cross-Border Trade
A digital partnership between Pakistani and Turkish firms to revolutionize cross-border trade. Galaxefi Solutions has signed a Memorandum of Understanding (MoU) with AsirDx. The digitalization of global logistics is competent approach to modernized trade, as Galaxefi and AsirDx commit to building continuous, transparent, effective and efficient cross-border trade systems. The objective of agreement is to implement the Galaxefi platform across Turkey, with plans to ultimately integrate it with the Turkish Single Window system to generate a modernized logistics ecosystem. The alliance is enabling a digitally unified trade environment and to deliver cutting-edge solutions in cross-border trade.
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Pakistan and UNDP Unveil $1 Billion
Pakistan’s commitment in global climate with UNDP and other development partners to promote economic growth and development highlighted five preliminary bankable projects valued of over USD 1 billion and has been designed to attract investment and climate financing to Pakistan. The finalized bankable projects enhance Pakistan’s participation in the upcoming 4th International Conference on Financing for Development. The identified projects scope key sectors are, including green exports, bio-waste management, road infrastructure, domestic green private sector development, and green real estate. UNDP’s support to work together on creating an investment-attractive portfolio aligned with Pakistan’s climate resilience priorities and Sustainable Development Goal.
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Copper-Gold Find in Chagai District – Balochistan
The discovery copper-gold mineralization in District Chagai, Balochistan has been confirmed and related activities remain at a preliminary stage. Further geological, geographical, methodological, and monetary studies are required before assessing commercial viability. The lease for exploration was granted in October 2023. The licensed area contains two known porphyry prospects with strong exploration potential. Since then, 18 additional prospects in the area have been identified. “Tang Kaur” prospect has progressed rapidly, with NRL completing 13 diamond drill holes spanning 3,517 meters. The first six drill holes (1,500 meters) confirmed porphyry-style alteration and sulfide mineralization, intersecting near-surface mineralized zones ranging from 48 to 148 meters.
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Pakistan Waives Procurement Rules for PIBTL
The government has approved an exemption to Pakistan International Bulk Terminal Ltd (PIBTL), allowing it to handle exports of copper, gold, and other minerals from Barrick Gold Corp.’s $6 billion Reko Diq project. Barrick Gold had considered several amenities for its export needs before choosing PIBTL. Barrick Gold Corp.’s is working with the Port Qasim Authority to streamlined the handling of new high-value mineral commodities smoothly, with plans to modify the terminal if required. PIBTL, which at present handles coal, clinker, and cement exports at Port Qasim, to expand and develop its operations to include high-value mineral exports after receiving approval from the Special Investment Facilitation Council.
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Pakistan – Belarus Agriculture Cooperation
Pakistan's agriculture sector is set to get assistance from increased cooperation with Belarus, which will aid in advancing agricultural development and strengthening international partnerships to support Pakistan's economic growth. By leveraging Belarus’s expertise, both countries have outlined strategies for joint ventures focused on manufacturing agricultural machinery locally in Pakistan. Pakistan – Beralus cooperation contribute considerably to Pakistan’s development, especially in the agricultural and mining industries. The initiatives are composed to promote broader national prosperity and reinforce Pakistan’s industrial capabilities.
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