Connect with us

Latest News

Power theft: Pakistan “approves” the FIA personnel’ assignment to DISCOs

Published

on

The sources added that in response to the International Monetary Fund’s (IMF) request, action was taken to stop power theft and improve recovery.

The Power Division has received a letter concerning the deputation of FIA officers in five DISCOs, namely the Islamabad Electric Supply Company, Faisalabad, Gujranwala, Tribal Areas, and Quetta Electric Supply Companies.

FIA officers have already been assigned to the Hyderabad Electric Supply Companies, Sukkur Electricity Company, and Peshawar Electric Company.

Throughout the course of a nationwide campaign against power theft from March 24 to March 31, the Power Division recovered an additional Rs 1.50 billion, bringing the total amount recovered to Rs 84 billion.

In September 2023, the military leadership and caretaker government of Pakistan resolved to tackle power thieves nationwide in an effort to reduce losses in the electricity sector.

A nationwide drive on power pilfers has resulted in Pakistan recovering Rs 84 billion in fines, while since September 1, over 62,000 people have been arrested

Latest News

In the majority of the country, PMD forecasts cold, dry weather.

Published

on

By

The majority of the country is anticipated to have cold, dry weather during the next 24 hours, according to the Pakistan Meteorological Department (PMD). However, hilly regions of Kashmir, Gilgit-Baltistan, upper Khyber Pakhtunkhwa, and northwest Balochistan are forecast to see rain and snowfall.

During the morning and evening hours, fog is expected to affect several regions in Punjab and upper Sindh, which could impair vision and make commuting challenging.

The synoptic situation indicates that a westerly wave is presently affecting the country’s upper and western regions, bringing precipitation to these regions.

While Upper Khyber Pakhtunkhwa, Gilgit-Baltistan, and Kashmir saw sporadic rain and snowfall, most regions experienced cold and partly overcast weather over the past 24 hours.

On Tuesday, the temperature in Leh dropped to -9 degrees Celsius, making it the coldest place in the nation.

Continue Reading

Business

Barrick CEO: Reko Diq mine will provide $74 billion in free cash flow over 37 years.

Published

on

By

Based on consensus long-term prices, the Reko Diq copper and gold project in Pakistan is anticipated to produce almost $74 billion in free cash flow over the next 37 years, according to the CEO of joint owner Barrick Gold, who made this statement in a media interview.

Half of the Reko Diq mine is owned by Barrick Gold, with the remaining 50% being owned by the province of Balochistan and the Pakistani government.

The development of the mine is anticipated to have a major impact on Pakistan’s faltering economy, and Barrick views it as one of the greatest untapped copper-gold zones in the world.

A protracted conflict that ended in 2022 caused the project to be delayed, although it is anticipated that production will begin by the end of 2028. In its initial phase, it will cost an estimated $5.5 billion and generate 200,000 tons of copper annually.

In an interview with the media, Barrick CEO Mark Bristow stated that the first phase should be finished by 2029.

He said that production will increase in a second phase, which is expected to cost $3.5 billion.

Although the mine’s reserves are estimated to last 37 years, Bristow stated that with improvements and additions, the mine’s useful life may be significantly extended.

Pakistan, which now has just about $11 billion in foreign reserves, could receive substantial dividends, royalties, and taxes from a free cash flow of $74 billion.

Additionally, Barrick is negotiating with infrastructure providers and railway authorities to renovate the coal terminal in Port Qasim, which is located outside of Karachi, Pakistan, in order to provide infrastructure for the domestic and international transportation of copper.

The project is on schedule, according to Bristow, with surveys, fencing, and lodging already finished.

In the next two quarters, the Saudi mining corporation Manara Minerals may make an investment in Pakistan’s Reko Diq mine, Pakistani Petroleum Minister Musadik Malik stated last week.

Manara executives traveled to Pakistan in May of last year to discuss purchasing a share in the project. Additionally, Pakistan is discussing mining prospects with other Gulf nations, according to Malik.

Continue Reading

Latest News

Human trafficking: FIA initiates airport surveillance of travelers from nine districts

Published

on

By

On Wednesday, the Federal Investigation Agency (FIA) released a detailed advise for the first time in 20 years, targeting the prevention of human trafficking and the enhancement of passenger monitoring for those going to and from Pakistan.

The action is prompted by increasing apprehensions over the exploitation of susceptible individuals for forced labor and trafficking.

The recommendation, derived from a comprehensive review of the Immigration and Border Management System (IBMS) database from July to December, underscores the escalating necessity for enhanced monitoring of travelers from 15 nations.

The measures specifically target passengers from nine Pakistani locations and some foreign airlines, representing a crucial advancement in the nation’s initiatives to combat the escalating problem of human trafficking.

Cities and airlines facing examination

The alert identifies nine Pakistani cities: Mandi Bahauddin, Gujarat, Sialkot, Gujranwala, Jhelum, Toba Tek Singh, Hafizabad, Sheikhupura, and Bhimber. The advise has, for the first time, explicitly instructed authorities to enhance inspection of passengers aged 15 to 40 going internationally.

The countries of interest include Saudi Arabia, Azerbaijan, Ethiopia, Senegal, Kenya, Russia, and Egypt. The advise additionally mandates a comprehensive examination into travelers heading to Libya, Iran, Mauritania, Iraq, Turkey, Qatar, Kuwait, and Kyrgyzstan. These regions have been identified due to their correlation with heightened human trafficking activity in recent years.

Stricter requirements for international carriers

Two international airlines, one from the Gulf area and the other from Africa, have been added to the advice. The FIA has mandated that these airlines completely participate in the verification of passenger documents, especially for those traveling to or from Pakistan.

The advise underscores the necessity of meticulously examining all documentation, including return tickets and hotel reservations, with special focus on individuals going on visit or tourist visas. Officials have been directed to interrogate dubious travelers regarding the intent of their journey, their financial provisions, and to keep meticulous documentation of their actions.

Additionally, all irregularities must be reported immediately, and passengers exhibiting suspicious behavior should be investigated further. Authorities have been implored to guarantee comprehensive evaluations of all individuals, particularly those journeying to nations with a significant risk of human trafficking.

Continue Reading

Trending