KARACHI: The federal minister for petroleum and energy, Ghulam Sarwar Khan, has assured us that the Gas supply to CNG stations across Sindh province will be restored by Saturday and we are hoping that the government will keep its promise, Chairman Petroleum and CNG Association, Shabir Sulemanji, told Arab News on Friday.
“We have been assured that the CNG supply will be restored by tomorrow,” said Sulemanji after meeting with minister, however, the Spokesperson the Sui Southern Gas Company (SSGC), Muhammad Ali Gohar, told Arab News; “Restoration is likely but we have no official confirmation yet.”
“Efforts are afoot to restore the supply of gas to fuel stations and industrial units,” Gohar said.
Both federal minister for petroleum and energy Ghulam Sarwar Khan and Federal Minister for Power Omar Ayub flew into Karachi on Friday to meet chief minister Sindh, Syed Murad Ali Shah, and leaders of CNG association.
Rasheed Channa, spokesman of CM House, said Chief Minister Sindh informed federal ministers of the losses due to closure of industrial units.
“CM Sindh also told them that transport has come to a standstill whereas it has become difficult for the people to commute,” he quoted CM as saying, adding the provincial chief executive also demanded representation of the Sindh at the boards of directors of the gas companies. The federal government has dissolved the boards, blaming members of the boards for the ongoing energy crisis.
According to Channa, petroleum minister has assured Chief minister of briefing PM Imran Khan about the situation. As the representatives of the federal government were meeting with Chief Minister, his party’s Karachi chapter staged a protest demonstration in front of the Karachi Press Club.
Sulemanji says the closure of Gas for six days has caused a loss of billions to the CNG owners across the Sindh. However, the industries and owners of the gas stations are not the only affectees of gas crisis.
“I could not take out my Rickshaw for the last five days due to closure of the fuel stations,” Muhammad Amjal, an auto rickshaw driver in his forties, told Arab News while he was waiting for passenger at Mazar-e-Quid, Karachi.
“I earn Rs1,000 by spending CNG of RS300 during a day. However, Today, as I took out my Rikshaw after four days break, I put in petrol of Rs400 and earned RS400, meaning I drove the Rikshaw half of the day for nothing,” Amjal said.
Zain Ali, who works at private office, says his car, which has CNG-only-facility, is standing at home for last one week and he is using two-wheeler for commuting to office. “The closure of Public transport has affected the life of many and my colleague using public transport are unable to attend office,” Ali told Arab News.
Spokesperson of the SSGC says the supply was halted due to maintenances issues at Gambat Gas Field.
However, experts say the problem is owing to lack of coordination and mismanagement.
“Its difficult to quantify the loss at this moment but the closure of CNG has certainly resulted in huge losses besides exposing the lack of coordination and management issues in government departments,” Samiullah Tariq, a Karachi based energy expert, told Arab News.
The situation at production field was indeed out of control of the distribution companies, including the SSGC but one can’t give them complete waiver of responsibility as the failure of compressors in high demand season and not forecasting the high demand is all exposing authorities at power supply companies and relevant government ministries, Tariq said.
Tariq also questioned the government’s decision to dissolve the boards, saying although it was prerogative of the current regime to remove the board appointed by previous regime but the timing may not be right and may add to the problem.
“Besides, the CNG fuelling stations and commuters, the six-day long closure has also caused loss to industry,” Tariq opined.
Govt assures the resumption of gas supply to CNG stations’ in Karachi
Govt assures the resumption of gas supply to CNG stations’ in Karachi
- Experts say lack of coordination, planning and mismanagement in high demanding season is main reason of crisis
- The ruling party of Sindh, the Pakistan Peoples Party (PPP), held a protest demo against the lack of gas supply
Pakistan, Iran agree to strengthen bilateral ties to tackle regional militancy
- Pakistan’s planning minister meets Iran’s Ambassador to Pakistan Dr. Raza Amiri Moghaddam
- Pakistan, Iran both blame each other for not doing enough to root out militancy in border areas
ISLAMABAD: Pakistan’s Planning Minister Ahsan Iqbal and Iran’s Ambassador to Pakistan Dr. Raza Amiri Moghaddam on Thursday agreed to strengthen bilateral relations between their countries to reduce militancy in the region, state-run media reported.
Pakistan and Iran are often at odds with each other over instability on their shared border. Both countries have routinely blamed each other for not rooting out militancy. Small separatist groups in Pakistan have been behind a long-running insurgency, calling for gas and oil-rich Balochistan’s independence from the central government in Islamabad.
Pakistani anti-Iran militants have also targeted the Iranian border in recent years, increasing friction between the countries.
“Pakistan and Iran have agreed to strengthen bilateral relations to reduce tendencies of terrorism and extremism in the region,” the state-run Radio Pakistan said.
Radio Pakistan said the agreement to bolster bilateral ties was reached between Moghaddam and Iqbal during a meeting in Islamabad.
“The Planning Minister emphasized the importance of enhancing connectivity through trade routes, considering the 900-kilometer shared land and maritime border,” he said.
Tensions reached a head in January between Pakistan and Iran after they exchanged airstrikes against alleged militant targets in each other’s territories. Both countries since then have made efforts to ease tensions and promote bilateral trade with each other.
Pakistan’s stock exchange closes at all-time high amid expectations of fresh IMF deal
- Pakistan Stock Exchange closes at all-time high of 67,142.12 points, registering an increase of 594.34 points from Wednesday
- Analysts link recent surge to possibility of Pakistan reaching another bailout agreement with IMF, privatizing national airline
ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed its highest closing in history on Thursday as the benchmark KSE-100 index closed at 67,142.12 points, with analysts linking the recent surge to market expectations of the possibility of a successful deal with the International Monetary Fund (IMF) for another bailout program.
The benchmark index settled at 67,142.12 points on Thursday at the close of trading, registering an increase of 594.34 points or 0.89 percent. This makes it the stock market’s highest closing in history, the previous highest being 66,547.78 points a day earlier.
Pakistan and the International Monetary Fund (IMF) reached a staff-level agreement last Wednesday which would pave the way for the release of $1.1 billion for the cash-strapped South Asian country. Pakistan has expressed its interest in securing a new loan under the Extended Fund Facility (EFF) program with the IMF.
Financial expert and journalist Faseeh Mangi said the Pakistan Stock Exchange is one of the best performers in the world “in a rally that started last year after Pakistan avoided a default.”
“The latest surge is on possible IMF deal, PIA sale,” Mangi wrote on X on Wednesday, referring to the government’s plans to privatize Pakistan International Airlines, its national airline.
Topline Securities’ Deputy Head of Sales Ali Najib said the index had finally breached the 66,000 barrier, saying it could be attributed to “positive vibes from the IMF, rejuvenated foreign interest at historically low valuations and progress on SOE privatization.”
Shehbaz Sharif, who was elected prime minister for a second term earlier this month, faces the daunting challenge of negotiating a long-term financial bailout program with the IMF. Pakistan’s fragile $350-billion economy is in desperate need of external financing to shore up its foreign exchange reserves and escape a looming macroeconomic crisis.
For Pakistan, committing to a new IMF program, however, will mean committing to steps needed to stay on a narrow path to recovery. This would limit policy options to provide relief to a deeply frustrated population and cater to industries that are looking for government support to spur growth.
Inflation touched a high of 38 percent with record depreciation of the rupee currency under Sharif’s last government from April 2022 to August 2023, mainly due to structural reforms necessitated by the IMF program. Pakistan continues to be enmeshed in economic crisis with inflation remaining high, hovering around 30 percent, and economic growth slowing to around 2 percent.
Tickets for Pakistan’s home series against New Zealand to go on sale from tomorrow
- Pakistan will play against New Zealand in Rawalpindi and Lahore venues from April 18-27
- Series will help prepare both sides for the upcoming T20 World Cup 2024 in USA and West Indies
ISLAMABAD: The tickets for Pakistan’s upcoming T20I home cricket series against New Zealand will go on sale from tomorrow, Friday, the Pakistan Cricket Board (PCB) said in a statement on Thursday.
The five-match series is scheduled to be played in Rawalpindi on April 18, 20 and 21 and in Lahore on April 25 and 27.
“In the first phase, the pre-booking of the online tickets will start on Friday at 5pm at pcb.tcs.com.pk,” the PCB said. “The sale of physical tickets along with outlet addresses will be announced in due course.”
The PCB said tickets for the Rawalpindi leg of the matches will be available at a minimum cost of Rs500 ($1.80) and the maximum will be available for Rs7,500 ($26.98) for the VVIP Gallery. Additionally, hospitality seats will be available at a maximum amount of PKR 15,000 ($53.97) except for the first T20I where the hospitality seats will be available for PKR 12,000 ($43.17).
For the Lahore leg, ticket prices start at Rs300 ($1.08) for the general seats while the maximum ticket prices will be Rs6,000 ($21.59) for the fourth T20I while Rs7,000 ($25.19) for the fifth T20I (VVIP Gallery).
The series will be important for both sides as they gear up for this year’s ICC T20 World Cup 2024 which is scheduled to be held in June in the USA and West Indies.
Pakistan will lock horns with arch-rivals India on June 9 for a big-ticket clash at New York.
Pakistani interior minister, KP CM vow to improve coordination amid surge in attacks
- Five Chinese nationals were killed in northwestern Pakistan on Tuesday in a bombing
- Interior minister, KP chief minister vow to bring perpetrators of attack to justice
ISLAMABAD: Pakistan’s interior minister and Khyber Pakhtunkhwa (KP) Chief Minister Ali Amin Gandapur on Thursday vowed to strengthen coordination between the center and the province to improve the law-and-order situation, the KP CM’s office said, amid a surge in terror attacks in the province.
Interior Minister Mohsin Naqvy arrived in Peshawar to meet Gandapur on Thursday to review the province’s law and order situation two days after five Chinese nationals and their Pakistani driver were killed in the country’s volatile northwest.
The incident took place in KP’s Shangla where a bomber rammed his explosive-laden car into the vehicle of Chinese engineers and construction workers on Tuesday.
The attack occurred in an area vital to the China-Pakistan Economic Corridor (CPEC), which encompasses various mega projects crucial for Pakistan’s economy. The victims were en route to Dasu Dam, Pakistan’s largest hydropower project, when they were targeted.
“To improve the law-and-order situation in the province, both agreed to improve the coordination between law enforcement institutions on the federal and provincial levels,” a statement from the KP chief minister’s office said.
The two condemned the attack on the Chinese nationals and expressed their condolences to Beijing and the families of those who had been killed in the attack.
“The two expressed their resolve to bring all those involved in the incident to justice and put an end to terrorism,” the statement said.
Gandapur said it was his government’s top priority to ensure law and order in the province and to safeguard people’s lives.
Pakistan’s foreign office said on Thursday that Islamabad had enhanced the security of Chinese nationals after the attack.
Foreign Office Spokesperson Mumtaz Zahra Baloch said both Pakistani and Chinese governments were in contact after the tragic incident on March 26, adding they were fully committed to bringing the terrorists, along with their facilitators and abettors, to justice.
No group had claimed responsibility for the attack but suspicion was likely to fall on separatists and the breakaway Gul Bahadur faction of the Pakistani Taliban, known as Tehreek-e-Taliban Pakistan or TTP.
The TTP is a separate group, but a close ally of the Afghan Taliban.
The TTP denied being behind the suicide bombing in a statement Wednesday, saying: “We are in no way related to the attack on the Chinese engineers.”
Tuesday’s attack came less than a week after Pakistani security forces killed eight Balochistan Liberation Army separatists who opened fire on a convoy carrying Chinese citizens outside the Chinese-funded Gwadar port in the volatile southwestern Balochistan province.
Pakistan says security of Chinese nationals enhanced after deadly attack
- Pakistan’s foreign office says the government fully understands Chinese security concerns after the attack
- It points out Pakistan has built a fence, introduced one document regime to secure its border with Afghanistan
ISLAMABAD: Pakistan’s foreign office said on Thursday the government has further enhanced the security of Chinese nationals only days after a deadly suicide bombing killed five of them along with their Pakistani driver in the country’s volatile northwest.
The incident took place in Shangla, located in Khyber Pakhtunkhwa province, where the bomber rammed his explosive-laden car into the vehicle of Chinese engineers and construction workers on Tuesday.
The attack occurred in an area vital to the China-Pakistan Economic Corridor (CPEC), which encompasses various mega projects crucial for Pakistan’s economy. The victims were en route to Dasu Dam, Pakistan’s largest hydropower project, when they were targeted.
“I can reassure you that Pakistan has further enhanced the security of Chinese nationals,” foreign office spokesperson Mumtaz Zahra Baloch told reporters in a weekly media briefing in Islamabad.
She said both Pakistani and Chinese governments were in contact after the tragic incident on March 26, adding they were fully committed to bringing the terrorists, along with their facilitators and abettors, to justice.
“At this point, we are focusing on investigating the terror attack and ensuring that the dead bodies of the deceased are transported to their home country,” she added. “This is the first priority at this stage.”
Asked about the security concerns raised by the Chinese officials following the attack, Baloch said the Pakistani government fully understood their concerns.
“We are engaged with the Chinese officials at very senior level to discuss the arrangements for the safety of Chinese nationals and for the investigation of this particular terror incident,” she informed.
The foreign office spokesperson said Pakistan would continue to work with the Chinese authorities to ensure the safety and security of Chinese nationals, projects and institutions in Pakistan.
“We have no doubt that the … terror attack [in Shangla] was orchestrated by the enemies of Pakistan-China friendship and together, we will resolutely act against all such forces and defeat them,” she emphasized.
In response to a question regarding Defense Minister Khawaja Muhammad Asif’s statement regarding the necessity for stronger border controls between Pakistan and Afghanistan, she clarified he was elaborating measures already taken by Pakistan to regulate travel between the two neighboring countries.
“Pakistan-Afghanistan border is an important border, and Pakistan has, over time, taken several measures to secure the border, including erecting a fence along the border,” she continued.
“Pakistan has also introduced one document regime under which individuals can travel to Pakistan on the basis of valid visas on their passports,” Baloch added.