KARACHI: Pakistani petroleum exploration and production companies will invest more than $33 million under petroleum concession agreements (PCAs) and exploration licenses (ELs) signed on Wednesday, the Pakistani energy ministry announced.
The PCAs and ELs were signed by Momin Agha, the Petroleum Division secretary, Kashif Ali, director-general of petroleum concessions on behalf of the government, Ahmed Hayat Lak, managing-director and chief executive officer of the Oil & Gas Development Company Limited (OGDCL), Shuaib A. Malik, chairman of the Pakistan Oilfields Limited (POL), Sikandar Ali Memon, chief operating officer of the Pakistan Petroleum Limited (PPL), and Dr. Nadeem Ahmed, head of exploration at United Energy Pakistan (UEP).
The signing ceremony was witnessed by Minister for Power and Petroleum Muhammad Ali, Special Assistant to Prime Minister Dr. Muhammad Jahanzaib Khan and others in Islamabad.
“The minimum investment to be carried out by the Exploration and Production (E&P) companies in these Blocks for prospecting will be over USD33.3 million in three years,” the Pakistani energy ministry said in a statement.
PCAs and ELs have been signed for eight blocks including Kotra East (2867-8), Murradi (2767-7), Sehwan (2667-19) and Zindan-II (3271-9) with Oil & Gas Development Company Limited (OGDCL), Multanai (3168-3) with Pakistan Oilfields Limited (POL), Sawan South (2668-26) with United Energy Pakistan Limited (UEP), Gambat-II (2668-25) with Joint Venture of Pakistan Petroleum Limited (Operator) and OGDCL, and Saruna West (2666-1) with Joint Venture of POL (Operator), PPL and OGDCL.
These companies will make investments to develop production for blocks with discoveries, besides spending a minimum of $30,000 per year on social welfare schemes in each block in their respective areas.
Petroleum Minister Ali said the efforts would bear fruit for the country in the form of additional hydrocarbon reserves during the next few years. He hoped the execution of the ELs and PCAs would not only enhance investment in the petroleum sector, but they would also contribute to bridging the energy demand and supply gap.
The South Asian country is only 16.35 percent self-sufficient in oil production, while it meets the rest of the demand through costly imports.
Pakistani petroleum companies to invest over $33 million in exploration in three years — energy ministry
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Pakistani petroleum companies to invest over $33 million in exploration in three years — energy ministry
- These companies have signed petroleum concession agreements and exploration licenses for eight blocks
- Minister hopes agreements will enhance investment in petroleum sector, bridge energy demand and supply
International rights group asks Pakistan to stop ‘coercing’ Afghan refugees into return
- Human Rights Watch urges authorities in Kabul to prevent reprisals against returning Afghan nationals
- It says Afghans returning to their country have been dealing with unemployment, broken health care system
ISLAMABAD: A leading international rights organization urged Pakistan on Wednesday not to “coerce” Afghan refugees into returning to their country, saying many risked persecution and would face dire economic conditions.
The appeal came as the government directed all Afghans without residence documents, along with Afghan Citizen Card holders, to leave by the March 31 deadline.
The interior ministry’s announcement earlier this month formed part of a broader repatriation drive targeting foreign nationals that began in 2023, with more than 800,000 Afghans expelled from Pakistan since. The campaign against “illegal immigrants,” mostly Afghans, was launched following a surge in militant violence from armed groups the government said had found sanctuary in neighboring Afghanistan.
Officials in Islamabad have maintained that many Afghan nationals in Pakistan were involved in attacks on civilians and security forces while blaming the interim Taliban administration for “facilitating” cross-border attacks. Afghan authorities in Kabul, however, have denied the allegations.
“Pakistani officials should immediately stop coercing Afghans to return home and give those facing expulsion the opportunity to seek protection,” Elaine Pearson, Asia director at Human Rights Watch (HRW), said as the rights organization released a report on the situation of those repatriated so far.
“The Taliban authorities in Afghanistan should prevent any reprisals against returning Afghans and reverse their abusive policies against women and girls,” she added.
HRW accused Pakistani police of raiding the houses of Afghan refugees, beating and arbitrarily detaining people, and confiscating their refugee documents, including residence permits.
Based on its interviews with Afghans who recently returned to their country, it said Pakistani authorities had demanded bribes to allow them to stay in Pakistan, adding that most Afghan nationals chose to return due to fear of detention in Pakistani cities.
Officials in Islamabad have dismissed such allegations in the past, saying they have carried out the repatriation process in a humane way.
The international rights organization also warned that the situation in Afghanistan has continued to deteriorate since the Taliban takeover in August 2021, with women and girls banned from post-primary education, while rights defenders, journalists, and former government personnel remain at particular risk.
“All of those returning struggle to survive amid Afghanistan’s soaring unemployment, broken health care system, and dwindling foreign assistance,” it added.
World Bank approves $102 million for Pakistan’s microfinance sector to bolster climate resilience
- The initiative aims to provide essential financial services to those in need, especially in rural areas
- The finance ministry will implement the project that will lead to the establishment of a Climate Risk Fund
ISLAMABAD: The World Bank has approved $102 million for a new project aimed at expanding access to microcredit and strengthening Pakistan’s microfinance sector against climate-related shocks, the global lender said in a statement on Wednesday.
The Resilient and Accessible Microfinance (RAM) Project seeks to support nearly 1.89 million people in the country, including over 1 million women and 350,000 youth, primarily in rural and low-income communities.
By providing funds to microfinance institutions, the project aims to ensure continued financial services for vulnerable populations, especially in times of economic and climate-induced disruptions.
“Microfinance is a critical tool for supporting the livelihoods of vulnerable populations in Pakistan,” the statement quoted World Bank Country Director Najy Benhassine as saying. “This project will help strengthen the resilience of the microfinance sector, particularly in the face of growing climate risks, ensuring that the sector can continue to provide essential financial services to those who need them most, especially in rural areas.”
He said the project was part of the World Bank’s broader commitment to promoting financial inclusion in Pakistan and enhancing resilience to climate change, as outlined in its 10-year Country Partnership Framework.
The RAM Project will focus on expanding access to microcredit, particularly through “recovery loans” for individuals and small businesses seeking financial stability after climate-related disasters.
“The project has been designed based on lessons learned from the devastating floods of 2022 and is a significant step to bolster financial inclusion in Pakistan,” said Namoos Zaheer, Task Team Leader for the project. “It will enhance economic empowerment and resilience of those at the bottom of the economic pyramid, particularly women, small farmers and families in rural areas who are more prone to climate shocks.”
The initiative, to be implemented by Pakistan’s Ministry of Finance through the State Bank of Pakistan, will include the establishment of a Climate Risk Fund, innovative use of agrotechnology solutions, capacity building for microfinance institutions and risk management frameworks to strengthen the sector’s resilience.
Pakistan has been a World Bank member since 1950 and has received more than $48.3 billion in assistance over the years.
The bank’s current portfolio in the country includes 54 projects totaling $15.7 billion.
Pakistan PM embarks on four-day Saudi visit to bolster bilateral trade, economic ties
- Shehbaz Sharif is expected to hold a meeting with Crown Prince Mohammed bin Salman, says PM Office
- The two leaders are expected to deliberate on global developments, including the situation in Gaza
ISLAMABAD: Prime Minister Shehbaz Sharif left on a four-day visit to Saudi Arabia on Wednesday, according to a statement released by his office in Islamabad, to discuss ways to further enhance bilateral trade and strengthen collaboration in key economic sectors.
Pakistan has tried to strengthen business-to-business (B2B) ties with the Kingdom, with both sides announcing during his visit to Riyadh last October they had signed 34 memorandums of understanding and agreements worth $2.8 billion to enhance private sector collaboration and commercial partnerships.
The two countries enjoy close defense, diplomatic, political and cultural relations, though they have consolidated their ties further in recent years as Pakistan grappled with a prolonged economic crisis and sought the kingdom’s help.
“Prime Minister Muhammad Shehbaz Sharif has departed for Saudi Arabia with a high-level delegation,” the PM Office said in a statement, adding Sharif would be back from the Kingdom on March 22.
The statement informed the prime minister was expected to meet Saudi Crown Prince and Prime Minister Mohammed bin Salman during his visit.
“During the meeting, the two leaders will discuss ways to promote trade, enhance partnerships in key sectors and facilitate broader economic cooperation,” it added.
The statement said they would also focus on regional and global developments, including the Gaza situation, evolving Middle East dynamics and broader issues concerning the Muslim Ummah.
Saudi Arabia presents a key export opportunity for Pakistani businesses, given its strong consumer demand and ambitious Vision 2030 economic reforms that emphasize diversification and foreign investments.
Pakistan has a 2.7 million-strong diaspora in Saudi Arabia, which accounts for the highest remittance inflow, a crucial lifeline for the country’s economy.
Last month, Pakistan’s commerce minister, Jam Kamal Khan, inaugurated the country’s first-ever solo “Made in Pakistan” exhibition in Jeddah, informing participants that over 1.7 million Pakistani workers had migrated to the Kingdom in the past five years, making it the top destination for Pakistani emigrants.
Sharif will be accompanied by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, along with key federal ministers and senior officials. The delegation is expected to engage with Saudi counterparts to explore new avenues of investment and economic cooperation.
“The Prime Minister’s visit highlights the deep historical ties between Pakistan and Saudi Arabia and will pave the way for enhancing mutual understanding, boosting cooperation in trade and investment and strengthening diplomatic engagement on bilateral, regional and global issues,” the PM Office added.
Pakistani diplomat at UN slams Israel’s ‘extremist leaders’ for continuing Gaza war for political survival
- Ambassador Munir Akram says Israel undermined Gaza ceasefire through humanitarian blockade, restricting Al Aqsa access
- He tells the world body the only way to peace is to end Israel’s ‘slaughter’ of innocent Palestinians in the war-torn region
ISLAMABAD: Pakistan’s top diplomat at the United Nations on Tuesday criticized Israel’s “extremist leaders” for continuing the war in Gaza for their own political survival, as fresh Israeli airstrikes killed about 400 people, threatening to unravel a fragile ceasefire.
Addressing a UN Security Council briefing on the humanitarian situation in Gaza, Ambassador Munir Akram accused Israel of systematically eroding the ceasefire agreement reached in January and called for an end to its “slaughter” of the Palestinian people.
The ceasefire agreement was reached on January 15 following more than a year of Israeli airstrikes that flattened much of Gaza’s infrastructure, including schools, hospitals and residential neighborhoods.
In the weeks that followed, Hamas, which governs the enclave, returned several batches of Israeli hostages taken at the start of the war, and the international community began to discuss reconstruction plans for the war-ravaged territory.
“The agreement of 15th January for a ceasefire, for a three-phase ceasefire, offered a sliver of hope for the Palestinian people, for the Israeli people, and for the world community,” Akram said. “The Arab and OIC [Organization of Islamic Cooperation] reconstruction and peace plan was under consideration in capitals. It offered a road to peace.”
“But obviously, this glimmer of hope and hope for peace was not to the liking of the extremist leaders who rule Israel today,” he continued. “They see their survival in the continuation of the war.”
Akram said Israeli was guilty of violating every article of international law, urging the world community to respond with justice or risk the world order’s regression “into the barbarism from which the Charter of the United Nations was supposed to rescue us.”
Akram highlighted Israel’s deliberate efforts to dismantle the ceasefire agreement, starting with the imposition of a humanitarian blockade of Gaza. This, he said, was followed by restrictions on Palestinian Muslims from accessing Al-Aqsa Mosque during the holy month of Ramadan.
“These are all tactics of the oppressor,” he maintained. “And now, they have escalated to blatantly violate the ceasefire and resume attacks against the helpless Palestinians in Gaza who were just returning to rebuild their homes.”
The Pakistani envoy called for the resumption of humanitarian aid to the Palestinian enclave and the need for a revival of negotiations leading to a two-state solution, with an independent Palestinian state along pre-1967 borders and East Jerusalem as its capital.
“The upcoming June conference, co-chaired by France and Saudi Arabia, is an important opportunity for the peaceful resolution of the Palestinian question and the implementation of the two-state solution,” he said, adding that “to realize the possibility of peace, Israel’s aggression, its attacks and its slaughter of the Palestinians must stop.”
‘New Kartarpura Food Street’ lights up Ramadan nights in Pakistan’s twin cities
- Market set up under Chandni Chowk flyover on first day of Ramadan will continue to operate after the end of the holy month
- Sellers and customers alike see street as more spacious, less congested alternative to Rawalpindi’s historic Kartarpura Street
RAWALPINDI: As visitors walk into the newly established ‘New Kartarpura Food Street’ at Chandni Chowk in the Pakistani city of Rawalpindi, they are immediately drawn to a unique sight: a group of men dressed in long, ankle-length robes typically worn by men in the Middle East and North Africa, their heads covered in ghutras, spinning lassi with wooden ladles in large metal pots.
The food vendor called Lahore 0 Kilometer is one of around 30 eateries that have come up on the new food street, seen as a more spacious, less crowded and family-friendly alternative to the historic Kartarpura Street in Rawalpindi.
Kartarpura Street was part of Rawalpindi’s Sikh neighborhood and the city’s main commercial area in the 19th century but over the past few decades has developed into a major food street and become famous for dishes such as nihari, a stew of tender beef or mutton meat with bone marrow, and siri paye, a traditional breakfast dish of cow or goat head and trotters. Lassi, both saltish and sweet, remains a key attraction, with a large number of vendors coming from Lahore and Gujranwala to sell the yogurt–based beverage, which is a staple at iftar and suhoor meals, especially when Ramadan falls in warmer months.
But customers and sellers alike have long complained of traffic congestion and overcrowdedness on the narrow street. This year, many of the stalls and food vendors have been shifted to the New Kartarpura Food Street, set up under the Chandni Chowk flyover on the first day of Ramadan. The market will continue to operate after the end of the holy month.
“Our main branch is in Kartarpura, but this venue has created a new trend, a proper space for families,” Abdul Latif Rashid, from the famed Kala Khan Nihari House, told Arab News. “Because of that, the [public] response here has been very good.”
The food street’s organizer, Raja Usama, said the idea for the new market was inspired by Ramadan food festivals in Dubai.
“Different kinds of food are available here,” he told Arab News. “Small, new businesses and young people are also being promoted. Families are being given a good environment.”
Muhammad Hamza at Lahore 0 Kilometer said people were coming from both Rawalpindi and Islamabad to try their lassi, which sells in seven flavors for between $0.71 to $2.85.
“We have great love for Arab countries. The attire I am wearing has been given a lot of respect by the [local] people, and I wish to wear the same attire when I visit Saudi Arabia,” Hamza told Arab News, as people stopped to take photos of him preparing lassi in his thobe and ghutra.
For visitors like Mahnoor Kareem, a Chinese language instructor, the new food street provides much-needed respite to the overcrowded old Karparpura.
“Kartarpura in Rawalpindi is very famous, especially for sehri [suhoor], but we never went there because it’s always too crowded. Most people prefer to come here with their families,” she said. “We tried their paye and lassi, and we really liked it.”
Kanwal Zahra, who sells Pakistani cuisine, has also set up shop at the new food market.
“We serve traditional dishes passed down from our grandmothers, roti made from pure wheat flour, special jaggery and sugar tea, palak paneer, and lassi,” she said.
Besides traditional dishes, the food street also has more innovative offerings.
“Initially, people said they did not eat momos, especially boys,” dumplings vendor Meena Nabeel said. “But once they try, they come back with their friends and say that it is good, they like the taste. The filling and dough get a lot of praise. Our sauces also receive a lot of compliments.”
