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Penny for your thoughts The main opposition parties in the parliament are criticizing the present government for not disclosing the name of the friendly Muslim country which has gifted $1.5 billion aid to Pakistan. Opposition parties are apprehending that the significant aid may be to deploy Pak forces in the Middle East to safeguard Saudi interest and other Arab countries. It is largely believed that the trusted friend is Saudi Arabia which gifted Pakistan $1.5 billion to help shore up its foreign exchange reserves, meet debt-service obligations and undertake large energy and infrastructure projects. Whether it is a gift or something else, but the assistance has contributed to a sharp recovery of the Pakistani rupee, which rose t...

April 1, 2014 at 3:19 pm | News Desk

Before the start of next winter, Pakistan will start the import of 400mmcdf LNG from Qatar, which will be 25% of our pipeline supply. Though it will not completely fix the gas crises, but certainly would reduce the gas shortage in Punjab as witnessed now, Pakistan Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi said in an exclusive interview with Economic Affairs. The oil and gas sector outlook 2014 is very encouraging. What special measures and policies have been adopted to attract investment in this area? It is almost after a decade that a proper comprehensive petroleum concession policy has been implemented. I want to make it clear that we have not made any new policy. It is the same petroleum concession policy ...

March 10, 2014 at 8:49 pm | News Desk

Mehmood Ul Hassan Khan Energy is life to economic development and Pakistan’s energy sector is at cross-roads. Energy sparks the socio-economic prospects of the country where its shortage has already spoiled our GDP (4 %) tremendously. It has also forced the closure of hundreds of factories (including more than five hundred alone in the industrial hub city of Faisalabad), paralyzing production and exacerbating unemployment. Although government of Pakistan announced new national energy policy 2013-2018 along with so many incentives and priorities but its overall energy economics and geo-politics is a complicated and complex phenomenon. It has internal dynamics, regional spillovers and international repercussions too. Pakistan’s m...

March 10, 2014 at 8:00 pm | News Desk

Tausif-ur-Rehman Pakistan is facing an unprecedented energy crisis due to surging demand and supply gap. Its current energy needs are heavily dependent on oil and gas and the demand far exceeds its indigenous supplies. The present energy scenario suggests that an affordable and sustainable energy road map for the country is essential to capitalize the use of indigenous resources in country’s energy mix. Development of indigenous energy resources such as coal, oil, gas, hydro and alternative sources are critical for Pakistan’s economic growth. Power sector The share of hydro power was 30% of total generation in 2012-13 as compared to nearly 70% in the 1980s. Hydro power development suffered a slowdown due to lingering con...

March 10, 2014 at 7:23 pm | News Desk

Had it been asked “how wise would it be to invest in an economically crippled and terrorized country?” the reply would be “suicide”. Unfortunately, Pakistan is a country which could not be termed a stable country, yet a number of opportunities are available for investors and execution on many projects is pending due to financing issues. If these projects get materialized successfully, it would pull the country out of the darkness caused by energy crisis. The projects of Thar coal, IP, TAPI and LNG import aren’t new but under consideration for many years. The successive governments were unable to make progress on these projects due to inconsistent policies.  Considering the much-talked looming energy crisis and the oil import b...

March 10, 2014 at 6:08 pm | News Desk

"It’s impossible for the world to be oblivious to Brazil", His Excellency, Mr. Alfredo Leoni, Ambassador of Brazil to Pakistan      Maria Khalid “Pakistan possesses a very significant geographic position with very important neighbors, a considerable territory and a substantial population, thus making it impossible for the other countries to ignore Pakistan”, said Ambassador of Brazil to Pakistan, His Excellency, Mr. Alfredo Leoni in an exclusive interview with Monthly Economic Affairs. “Brazil is very much certain about Pakistan’s bright future and I believe that Pakistan will soon rise above the problems like energy, slow growth and terrorism and development has to come about, whether Pakistan wants it or not, in fact pros...

September 11, 2013 at 10:49 pm | News Desk

By Maria Khalid “I am from a business family based in Karachi since 1920. We migrated here from Gujrat in India. The conventional business of our family is real estate; afterwards we embarked on different businesses like automobile and movies. I was a commercial pilot but I had to finish my flying career since my father was under the weather and I started looking after our family business. I was also the President of the Lasbela Chamber of Commerce and Industry in Lasbela, Balochistan. Later, I met Mohtarama Benazir Bhutto in the year 2002 when she was in exile. She was interested in bringing new people to the party so she insisted me to join, thus I worked with her. When she came back, the ideal place they thought for me was Board of In...

August 30, 2013 at 11:13 am | News Desk

By Dr Fawad Kaiser --  In cricket, a batsman nearing a century will frequently manifest signs of negotiating the aptly named ‘nervous nineties’ and he would hone his skills through mental process while refusing the opposition that cruel moment of satisfaction. Sticky wicket; this phrase comes from the game of cricket and refers to an uncovered cricket pitch that is in the process of dying out after being affected by heavy rain. A hard crust forms over the soft, wetsoil. This helps the ball to bite, turn and lift variably. On a sticky wicket, batting is awkward and sometimes hazardous, as the ball will spin, seam and bounce sharply and unpredictably. Given the absence of material tangibility, symbols occupy the space and I have chosen...

August 25, 2013 at 11:36 pm | News Desk